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Are you Using HMDA Data for Strategic Planning? You Should Be
As a mortgage compliance professional you know your fair lending responsibility as it relates to HMDA, but I want to go beyond and discuss how to use HMDA data for strategic planning. If you are concerned with corporate growth and development, then you know this is...
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...
2018 HMDA and Fair Lending Underwriting Analysis
As the first quarter of 2018 ends, many compliance officers will be interested in doing a preliminary analysis of their 2018 HMDA data. This blog focuses on how underwriting analysis changes going forward. If you have been doing a thorough analysis, the best advice is...
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...
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...
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...
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...
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. ...
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...
Uncover Loan Production Opportunities Using HMDA Data
Say the word “HMDA” to a mortgage lender and the first things that come to mind are data collection, filing deadline and fair lending compliance. After the HMDA-LAR has been submitted, wise compliance officers turn their attention to analyzing their data for fair...
Time to be conscious of changing demographics
It is a good idea to study your top markets and familiarize yourself with the changing demographics in those geographies. But especially now, as the data used in market penetration analyses are changing, it would be wise to devote some attention to demographics....
Mortgage Lending and the Community Reinvestment Act: Does CRA Make a Difference?
Read the December Fair Lending Guide in Mortgage Compliance Magazine. It contains insights from Michael Taliefero, Managing Director of ComplianceTech. Article Preview: The Community Reinvestment Act (CRA), enacted by Congress in 1977, is designed to encourage...
The 2016 HMDA Data and the Avalanche of Data to Come
Read the November Fair Lending Guide in Mortgage Compliance Magazine. It has interesting insights from Michael Taliefero, Managing Director of ComplianceTech. Article Preview Things are getting very interesting on the HMDA data front. Near the end of September 2017,...
2016 HMDA Shows One Million Jump in Mortgages
The 2016 Home Mortgage Disclosure Act data is out! Analyses of it from LendingPatterns™ will be available shortly, but in the meantime I am going to look at the Fed analysis that has just been released on last year’s lending. The Fed report shows 2016 lending volume...
California Is Number One, but Who Is Number Two?
The top state for mortgages last year, this year and every year, is California. But which is the nation’s second state for home loans? Is it Florida, Texas, New York, Illinois? Early look Home Mortgage Disclosure Act (HMDA) reporters show that as of Sept. 25, it was...