In the 2025 federal HMDA record, "incomplete application" is a marginal reason on formal FHA denials at most lenders (median 1.8% of cited reasons; mean 9.1%). At a small cluster of servicer-rooted lenders it is the dominant one. Reason shares are computed on cited reasons of action-3 denials only; files administratively closed for incompleteness (action 5) are excluded. Full story: The Incomplete Wall.
Regenerated from the repository's data files on 2026-09-22 by scripts/build_stat_pages.py; universe per universes.json. An earlier hand-written version (2026-07-21) carried different figures; see corrections.
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