In the 2025 federal HMDA record, "incomplete application" is a marginal reason on formal FHA denials at most lenders (median 1.2% of cited reasons; mean 7.3%). 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.