-
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…
-
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…
-
The Impact of the U.S. Government Shutdown on the Mortgage Industry
The U.S. government was shut down for over a month, and mortgage lenders have felt the effects of the impasse between Democrats and Republicans over Trump’s “border wall”. Upon first glance, these topics don’t seem related, but they are. The U.S. government shutdown affects federal agencies, and everything that affects federal agencies has an impact…
-
How LendingPatterns™ Can Help You Avoid Redlining
Mortgage lending can be a complicated process sometimes, with dozens of factors taken into consideration before approving an applicant for a loan. Unfortunately, lenders can often be so focused on the data and statistics that they may inadvertently be declining specific applicants or not offering them additional financial programs. This can add up over time…
-
Almost 2019: Year-in review perspective of HMDA developments
As we ring in the new year, it is helpful to recap where we are on three different HMDA fronts: 1) data collection, 2) ensuring data quality within the private data, and 3) disclosure and analysis of public data. In each area, I’ll describe the major developments over the last year or so and discuss…
-
DIY Statistical Analysis of HMDA Data
HMDA data is not just about collecting and reporting. If used right, it can be a strategic asset that can produce bottom-line results. I encourage you to make the most of your data by asking and answering questions based on HMDA results you see in LendingPatterns™. For example, you might want to further investigate penetration…
-
What I Wish Everyone Knew About FFIEC Fair Lending Risk Factors and Software Evaluation
Did you factor the Interagency Fair Lending Examination Procedures’ risk factors (listed beginning on page 6 of this file) into your decision to acquire your current fair lending software solution? Whether you have fair lending software or want to find a new vendor, I’d encourage you to look at the risk factors in detail to determine…
-
What’s the latest on Public 2017 HMDA Data?
In years past, FFIEC’s release of public HMDA data from the previous year had been finalized by November. But not so this year. My colleagues and I have been getting questions about whether the 2017 public data are final, so this blog will hopefully provide clarity on that topic. Visitors to the LendingPatterns™ website are…
-
What the HMDA Data Reveals about the Future of Private Label Securities
In the sixties they asked, “Where have all the flowers gone?” Today I wonder: Where have all the spread loans gone? Running historical trend charts in LendingPatterns™ reveal that spread lending still exists. The next logical question is: Which investors are meeting the secondary market needs for these loans? Or more importantly, who is absorbing…
-
The State of the US Housing Market: Millennial Trends
Although US Federal Reserve Chairman, Jay Powell, may feel the US housing market is in good shape, it seems as though the market may be slowing more than is ideal. On the other hand, the economy in America is doing well, with one of the lowest unemployment rates in the country since 1969. So why…