Category: blog

  • Looking Back on the Success of the 2019 CUNA Fair Lending Workshop

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    Debbie Malzahn
    in

    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 leading role in the industry. Here are some of the highlights…

  • Profile of a Millennial Mortgage Loan Applicant

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    Debbie Malzahn
    in ,

    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 applicant, but we can also compare them to all other age…

  • What you need to know about recent changes to MSAs/Metropolitan Divisions

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    Matt Piven
    in

    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 of applications by metro area or applicant income category (low/moderate/middle/upper), the changes will be…

  • Everything You Need to Know About the Consumer Financial Protection Bureau’s UDAAP Symposium

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    Dana Ginsburg
    in

    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 our future success, which is why the Consumer Financial Protection Bureau (CFPB) is launching…

  • How the Veterans Affairs Lending Scandal Affects You and Your Business

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    Dana Ginsburg
    in

    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 everything that you need to know about the scandal and how it may affect you and your…

  • DIY File Review Using 2018 HMDA Alone: a Step-by-Step Guide*

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    Debbie Malzahn
    in

    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, users can identify applicants that appear similarly situated based on some qualifications but had different underwriting…

  • Open-end second-lien home improvement market concentrated in coastal cities

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    Matt Piven
    in

    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 Open-end lines of credit A big question is where these transactions are concentrated.…

  • How the CUNA Fair Lending Workshop Can Help Your Business

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    Dana Ginsburg
    in

    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 annual workshops to educate compliance officers and creditors. Here is everything you need to know about the upcoming 2019…

  • Six HMDA Analyses You Never Thought Possible

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    Matt Piven
    in ,

    I made a list of six intriguing analyses that can be done with the public 2018 HMDA data. Possibilities are almost endless. Affordability Analysis  You can find where the borrowers are who can afford homes above a particular threshold (e.g., $1 million) using debt-to-income ratios, combined loan-to-value (CLTV) ratios, annual incomes, and appraised value.  For…

  • Join Us at the 2019 ABA Regulatory Compliance Conference

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    Dana Ginsburg
    in

    Successfully managing your mortgage or financial compliance company requires having the latest information and technology on your side. ComplianceTech prides itself on delivering the best compliance software available to financial institutions and is happy to announce that we will be exhibiting at the 2019 ABA Regulatory Compliance Conference. Here is what you need to know…