Builder-affiliated lenders sit near the market middle: in 2025, DHI Mortgage (D.R. Horton) denied 20.6% of 40,378 FHA applications and Lennar Mortgage denied 22.9% of 25,525, per FinanceRateCalc analysis of federal HMDA records - notable because both rank in the top 10 by FHA volume, meaning new-construction buyers form a major and rarely examined slice of the FHA market.
Source: CFPB HMDA 2025 (1,217,297 decisioned FHA applications), processed by FinanceRateCalc · methodology · all statistics