{
  "source": "CFPB HMDA Data Browser 2018-2024",
  "extracted": "2026-05-30",
  "wells_fargo": {
    "2018": {
      "conv_dr": 26.9,
      "fha_dr": 46.7,
      "fha_volume": 2300,
      "va_dr": 23.2
    },
    "2019": {
      "conv_dr": 28.2,
      "fha_dr": 46.9,
      "fha_volume": 2288,
      "va_dr": 16.8
    },
    "2020": {
      "conv_dr": 28.6,
      "fha_dr": 51.5,
      "fha_volume": 1502,
      "va_dr": 20.3
    },
    "2021": {
      "conv_dr": 24.0,
      "fha_dr": 51.7,
      "fha_volume": 1272,
      "va_dr": 15.1
    },
    "2022": {
      "conv_dr": 32.9,
      "fha_dr": 60.4,
      "fha_volume": 1746,
      "va_dr": 18.7
    },
    "2023": {
      "conv_dr": 33.0,
      "fha_dr": 56.3,
      "fha_volume": 1501,
      "va_dr": 16.9
    },
    "2024": {
      "conv_dr": 30.9,
      "fha_dr": 58.5,
      "fha_volume": 848,
      "va_dr": 24.2
    }
  },
  "rocket": {
    "2018": {
      "conv_dr": 20.7,
      "fha_dr": 34.8,
      "fha_volume": 66007,
      "va_dr": 25.9
    },
    "2019": {
      "conv_dr": 16.0,
      "fha_dr": 29.7,
      "fha_volume": 93525,
      "va_dr": 17.3
    },
    "2020": {
      "conv_dr": 14.0,
      "fha_dr": 30.3,
      "fha_volume": 83289,
      "va_dr": 11.6
    },
    "2021": {
      "conv_dr": 11.5,
      "fha_dr": 27.9,
      "fha_volume": 127771,
      "va_dr": 12.7
    },
    "2022": {
      "conv_dr": 15.8,
      "fha_dr": 31.9,
      "fha_volume": 73003,
      "va_dr": 21.2
    },
    "2023": {
      "conv_dr": 15.8,
      "fha_dr": 29.0,
      "fha_volume": 68367,
      "va_dr": 19.9
    },
    "2024": {
      "conv_dr": 16.8,
      "fha_dr": 28.4,
      "fha_volume": 66721,
      "va_dr": 18.3
    }
  },
  "wf_fha_exit": {
    "2018_volume": 2300,
    "2024_volume": 848,
    "volume_decline_pct": 63.1,
    "2020_inflection": "First year denials exceeded originations"
  },
  "overlay_gap": {
    "average_wf_rocket_fha_gap_pp": 22.9,
    "interpretation": "Same FHA borrower faces ~25pp higher denial probability at Wells Fargo vs Rocket",
    "ofi_support": "Structural gap confirms OFI=47 elevated reading"
  }
}