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Six HMDA Analyses You Never Thought Possible
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…
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Join Us at the 2019 ABA Regulatory Compliance Conference
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…
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Let’s Celebrate 51 Years of Fair Housing in America!
In today’s world, every American is free to purchase their home or rent their property wherever they wish, but this was not always the case. This April 11th, we celebrate the 51st anniversary of the Fair Housing Act, and how it greatly improved the opportunities for disenfranchised Americans. The History of Fair Housing Presidents going…
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Create your own early look using competitors’ 2018 HMDA LARs
At ComplianceTech, we love data analysis, so last Friday’s release of new HMDA data was a truly exciting day. Unfortunately, we will have to wait until the release of the CFPB “snapshot” data for the full data to be in LendingPatterns(TM). Those who are really anxious to look at their competitors’ data can download the…
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Deep Dive into CFPB’s Public Complaint Database
Every company, even the exceptionally good ones, will get a complaint from time-to-time. That said, I think the Consumer Finance Protection Bureau (CFPB) Consumer Complaint Database is a valuable resource for both consumers and our customers who are mortgage lenders. The database at that link contains over 1.2 million complaints related to all types of…
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Will We See You at the CUNA Governmental Affairs Conference This Year?
We are excited to be attending the Credit Union National Association Governmental Affairs Conference from March 10th to 14th in Washington, D.C. where more than 5000 credit union representatives will be advocating for their 115 million members throughout the United States. There’s still time to register for the conference and here’s why you should consider…
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UDAAP and ECOA Issues in Servicing
Due to the mass amounts of paperwork and legislation, mortgages are a key part of the U.S. financial industry and its most complex feature as well. Here is a quick breakdown of two key compliance concerns related to servicing, one being “fair servicing” ECOA issues and the other being unfair practices under UDAAP: The Challenge…
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Preparing for the 2018 HMDA Submission
The Home Mortgage Disclosure Act makes essential information accessible for professionals in the financial industry to help us all make better decisions based on data analysis. Be sure to check out the Bureau’s last update for the most recent changes before submitting your LARs. Here’s what you need to know about the HMDA, new rules,…
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Aspects of Preapproval Analysis You May Not Have Thought About
Institutions with preapproval programs should pay close attention to how they incorporate preapproval applications in fair lending reviews. Fortunately, LendingPatterns™ and Fair Lending Magic™ provide robust tools that allow you to produce a thorough analysis. Importantly, LendingPatterns™ allows users to run the popular Introductory Fair Lending Analysis and Lending Disparity Profile reports with a filter…
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What LendingPatterns™ Can Teach You About the BB&T and SunTrust Merger
The announcement of the BB&T and SunTrust merger on February 7, 2019 has me thinking about its impact on the industry as well as what lenders might learn by looking at the data behind the merger. The good news is that it’s easy to create pseudo bank mergers using LendingPatterns™, ComplianceTech’s web-based tool that aggregates…