Blog
List of articles
2019 year-in-review in the world of HMDA
Like last year, I want to write another blog to recap the year’s HMDA developments and look ahead to what’s coming in 2020. This year’s blog will summarize three different fronts: 1) data collection, 2) Reg C changes, and 3) disclosure of public data. In each area,...
Breaking Down Secondary Market Activity in 2018
Many people believe that the signs of a healthy economy are in the number of mortgages being applied for by Americans, but one of the true indicators of economic and financial health is in the secondary market, where government-sponsored enterprises (GSE) choose which...
On the margins of metro areas
This is the third in a series of blogs related to the 2019 demographic changes. The first dealt with changes in metro area median family incomes and the second dealt with tracts that flipped from low/mod to not low/mod, and vice-versa. As discussed, the 2019...
The ComplianceTech Team will be at the MBA Annual Convention
Are you feeling overwhelmed by fair lending analysis, have an upcoming exam, or don’t know where to begin? For starters, talk to the ComplianceTech team about their solutions. ComplianceTech prides itself on delivering the best HMDA and fair lending compliance...
Important Takeaways From the 2018 HMDA Data Release
As we enter the fourth quarter of the year and businesses begin forming their strategies for 2020, they need the most up-to-date consumer data to inform their strategies and match their clients’ needs. For financial institutions, there is no better source than the...
Demographic alert: tract income changes for 2019
This is the second blog in a series about the the 2019 FFIEC census demographic file which was released on August 30, 2019. Into that file FFIEC incorporated September 2018 Office of Management and Budget MSA/Metropolitan Division boundary definitions. As a result...
Why Your Financial Institution Should Attend the 2019 Fair Lending Interagency Webinar
The year may almost be over, but that doesn’t mean the learning opportunities for fair lending compliance management professionals is over. ComplianceTech is always searching for new events to advance our skill sets and those of our clients, and we believe the next...
Looking Back on the Success of the 2019 CUNA Fair Lending Workshop
Over the past few years, the Credit Union National Association has been hosting symposiums to educate credit unions on how they can succeed on the right side of the law. This year, ComplianceTech spoke at the conference to educate industry professionals and take a...
Profile of a Millennial Mortgage Loan Applicant
Finally, we can take the guess work out of describing the mortgage loan preferences of millennials. With the expanded 2018 HMDA data fields, we can analyze lending by the applicant’s age. This not only gives us a chance to better describe the typical millennial...
What you need to know about recent changes to MSAs/Metropolitan Divisions
Institutions who are covered by the Community Reinvestment Act (CRA) will want to pay particular attention to recent changes to MSAs and Metropolitan Divisions and median family incomes (MFIs). In the HMDA/fair lending world, whether you are looking at a distribution...
Everything You Need to Know About the Consumer Financial Protection Bureau’s UDAAP Symposium
Financial institutions have been a part of America’s economy since the beginning of the country, and the good faith dealings between these institutions and their customers have created the prosperity we know today. Maintaining these good faith negotiations is key to...
How the Veterans Affairs Lending Scandal Affects You and Your Business
Refinancing VA loans can be profitable as they bring large payments to financial institutions. However, some financial institutions have pursued predatory loans with vulnerable borrowers, and this has led to the current Veterans Affairs Lending Scandal. Here is...
DIY File Review Using 2018 HMDA Alone: a Step-by-Step Guide*
Thanks to the expanded underwriting and pricing fields that are part of the 2018 HMDA dataset, users of the popular LendingPatterns™ software can identify file records based on qualification criteria and outcomes that are candidates for further review. Specifically,...
Open-end second-lien home improvement market concentrated in coastal cities
Prior to 2018, HMDA reporting for lines of credit was optional. It turns out that in 2018 $21.1 billion in credit was extended in transactions within the following parameters: Conventional Second lien Home improvement Owner occupied as a principal or second residence...
How the CUNA Fair Lending Workshop Can Help Your Business
Mortgage lending and compliance is a field that is constantly shifting, with new legislation requiring credit unions to change their practices and systems appearing regularly. Fortunately, the Credit Union National Association understands these changes and hosts...