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2017 EarlyLook HMDA Data Available in LendingPatterns™
MCLEAN, VA April 18, 2018 – Today ComplianceTech announced the availability of an early look of the 2017 HMDA data in its widely used LendingPatterns™ application. LendingPatterns™ is an advanced fair lending and compliance data analysis tool used by every major sector of the mortgage lending industry, including lenders, regulators, GSEs, enforcement agencies, fair housing…
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Quickly Analyze HMDA 2018 Today!
The ability to import 2018 format TXT files as Private Data is now available in LendingPatterns™. The link to the file specs can be found online: https://www.consumerfinance.gov/data-research/hmda/static/for-filers/2018/2018-hmda-fig.pdf.) There is no change to available reports in LendingPatterns™. In the process of importing, LendingPatterns™ will transform your Private Data into pre-2018 format. Our approach is to…
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ComplianceTech Named to HousingWire 2018 Tech100
ComplianceTech was named to The 2018 HW Tech100 by HousingWire Magazine.
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For Lenders Only: Using HMDA Data to Improve Secondary Market Sales Execution and Pricing
Mortgage banking involves originating loans in the primary market for sale in the secondary market, thereby replenishing the lender’s funds for new loans. Methods of sale can be through securitization or whole loan trades. For whole loan trades, one secondary market strategy is to sell production through third party correspondent lending programs. Selecting a desired…
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Helpful Hints About Peer Analysis
In our blog on February 13th, we discussed the importance of conducting a peer analysis to compare a lender’s performance in the context of other lenders in the same market. This is the only way a given lender’s performance can be said to be above or below expectations. When it comes to fair lending analysis…
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Why We Love Branch Analysis (And You Should, Too!)
Analyzing branch penetration helps lenders see how many branches are in minority areas. Several legal cases point to the importance of self-monitoring by conducting a branch penetration analysis showing your branches’ concentration in high-minority areas. In March 2017, the U.S. Department of Housing and Urban Development (HUD) reached a fair lending Conciliation Agreement with a…
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HMDA Reporting: A Deep Dive Infographic
Credit Union Times features HMDA data from LendingPatterns™ in the February 28, 2018 edition of the paper.
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Credit union mortgage lending robust in high-minority areas
In 2016, federally insured credit unions did a very good job penetrating majority minority census tracts. Recent redlining cases brought by CFPB and DOJ advanced an approach to market penetration analysis that looks at how individual lender’s shares of market activity varies by census tract demographics. Similarly, the analysis presented here looked at credit unions’…
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Approaches to Peer Analysis in LendingPatterns™
One of the great features of LendingPatterns™ is that any lender’s diverse lending performance can be analyzed in the context of other lenders in the same market. This is the only way a given lender’s performance can be said to be above or below expectations. Sometimes this is referred to as comparing a lender against…
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12 Questions to ask a Fair Lending Software Vendor
Finding a fair lending compliance tool to make it easier for you to efficiently and effectively monitor your lending data is a challenge. Knowing exactly what to ask the vendor can ease the selection process. Below are twelve suggested questions to ask: How long has the company been doing business in the fair lending industry?…