Industry
February 27, 2026
The latest HMDA data makes the scale of the fallout problem impossible to ignore. Industry‑wide, lenders took about 6.9 million RESPA applications representing roughly $2.5 trillion in requested mortgage credit, yet only about 4.6 million loans and $1.7 trillion in volume actually funded—meaning just 59% of applications converted to closed loans, barely six in ten.