FRC Research · Lender DNA Analysis

Which lenders share
the same decision DNA?

If your lender denies you, the worst move is applying to a lender with identical behavior. Pick a lender that thinks differently. This engine compares 15 behavioral features across 11 major FHA lenders using cosine similarity.

Select a lender
✓ Most Similar — Same DNA, Same Risks

These lenders behave like your selected lender. If it denied you, these likely will too.

✗ Most Different — Opposite DNA, Different Outcome

These lenders behave most differently. If your lender denied you, start here.

See which lender's DNA actually matches your borrower profile — before you apply.

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Methodology: Each lender is represented as a 15-dimensional feature vector: 2025 denial rate, 2024 denial rate, year-over-year trend, volatility, LSI score, overlay risk, climate sensitivity (CSS), CLTV cliff (+pp at 85% LTV), DTI cliff (+pp at 44-45% DTI), mid-risk disparity, high-risk disparity, OFI score, refi volume ratio, purchase sensitivity, and cash instability. Vectors are min-max normalized and compared using cosine similarity. Score of 1.0 = identical behavior, 0.0 = completely orthogonal. Source: CFPB HMDA 2025, FRC internal analysis.

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Fair Lending Note: FRC analyses exclude all protected-class variables present in HMDA (race, ethnicity, sex, age). We model lender behavior across financial variables only — DTI, CLTV, loan type, property type, and outcome. We measure how institutions decide, not who applies.
How to cite
FRC Research (2026). Lender Similarity Engine: Behavioral DNA Comparison of 11 FHA Lenders. FinanceRateCalc. https://financeratecalc.com/lender-similarity.html
Source: CFPB HMDA Public Dataset 2025 · FRC Lender Behavior Panel · FRC Lender Stress Index · June 2026 analysis.
Similarity scores reflect behavioral patterns in historical HMDA data — not current lender policy. For informational purposes only. Not financial advice.

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▵ the lender constellation · line weight = real behavioral similarity
The part almost nobody publishes free

Prices and rates are widely reported. Whether a lender says yes is not. In the complete 2025 federal record, denial rates across the 100 largest FHA lenders ran from 1.8% to 78.7% — same programme, same year.

And it is not simply who applies where: standardizing on state, loan amount, income, debt-to-income and loan-to-value, applicant mix explains only a 2.7× range in expected outcomes.

Which lenders approve most → Your metro → Denied? →

CFPB HMDA 2025, computed by FinanceRateCalc. Covers the highest-volume lenders published per market, not all lenders. Historical observations, not predictions. CC BY 4.0, not independently reproduced.

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FinanceRateCalc · Independent analysis of the complete federal HMDA record · Measured, not assumed. · No lender or AI vendor funds or previews this work.