The inspection of railway fasteners to assess their clamping force can be used to evaluate the looseness of the fasteners and improve railway safety. Although there are various methods for inspecting railway fasteners, there is still a need for non-contact, fast inspection without installing additional devices on fasteners. In this study, a system that uses digital fringe projection technology to measure the 3D topography of the fastener was developed. This system inspects the looseness through a series of algorithms, including point cloud denoising, coarse registration based on fast point feature histograms (FPFH) features, fine registration based on the iterative closest point (ICP) algorithm, specific region selection, kernel density estimation, and ridge regression. Unlike the previous inspection technology, which can only measure the geometric parameters of fasteners to characterize the tightness, this system can directly estimate the tightening torque and the bolt clamping force. Experiments on WJ-8 fasteners showed a root mean square error of 9.272 N·m and 1.94 kN for the tightening torque and clamping force, demonstrating that the system is sufficiently precise to replace manual measurement and can substantially improve inspection efficiency while evaluating railway fastener looseness.