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Come See Us at the MBA’s Regulatory Compliance Conference!
The MBA’s Regulatory Compliance Conference is taking place from September 16th to 18th in Washington, DC. Anyone working to implement the new regulations—including compliance officers, company executives, and policy advisors—should attend this event because this is a great opportunity to hear first-hand from federal regulators and policy makers. ComplianceTech is one of the sponsors of…
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Where are the biggest movers in 2018 median family income stats?
On August 16, the Federal Financial Institutions Examination Council (FFIEC) released 2018 median family income (MFI) statistics for metropolitan areas to be used in fair lending and CRA analysis. This blog presents some interesting discoveries when comparing 2018 to 2017 MFIs. (The 2018 MFIs are live in Fair Lending Magic™ and will be live in…
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Four Problems Our Software Can Help You Solve
In order to thrive in the lending business, you need to identify market opportunities, formulate lending benchmarks, and adopt lending best practices. While all these tasks can be challenging, ComplianceTech can help you make them simpler thanks to our software products: LendingPatterns™ and Fair Lending Magic™. We’ve been helping companies of all sizes since 1992,…
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I Have Some Suggestions on HMDA Peer Selection
Defining HMDA peer groups is critical for fair lending benchmark performance evaluation. I’m often asked, “How do regulators define a peer group?” Regulators don’t define peer groups; they offer guidance. For example, they expect lenders to know who their competitors are in their primary lending areas. See below for links to CFPB and FRB guidance.…
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5 Interesting Facts about the FFIEC List of Distressed and Underserved Census Tracts
Each year, the FFIEC releases a list of Distressed and Underserved Nonmetropolitan Middle-Income Census Tracts (link). Community Reinvestment Act guidance (see, for example, this link) illustrates the emphasis that bank regulators place on these tracts. As a lender, you might be interested in learning more about the current lending activity in these census tracts. In…
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Trends in troubled places
Much has been written in this blog about the use of LendingPatterns™ in uncovering loan production opportunities (for example, here). Within metro areas, activity levels can change so drastically over time that you need a fast and easy way to create trend analysis. Curious LendingPatterns™ users, especially those researching performance context for Community Reinvestment Act self-assessments,…
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Lenders Want to Make More Loans
All lenders in the home mortgage lending business want to make more loans. That’s why they are in business. Many lenders do a good job planning and executing outreach strategies to make loans to everyone. However, some lenders do a better job than other lenders in making credit available to underserved borrowers. As a retail…
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Redlining Analysis: How it Works, and the Mitigating Factors You Should Consider
In LendingPatterns™ there are two methodologies to determine statistical evidence of redlining. Both approaches use the z-test, the standard test to determine whether differences in proportions are statistically significant. The p-value output from the z-test gets at the probability that redlining occurred. LendingPatterns™ makes it easy: we highlight in bright yellow statistical evidence of redlining…
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5 Things You Need to Know About ComplianceTech’s LendingPatterns™
5 Things You Need to Know About ComplianceTech’s LendingPatterns™ The infographic depicts the an overview of the 2017 HMDA data released by CFPB on May 7th. Below, you’ll find 5 Things You Need to Know about ComplianceTech’s LendingPatterns™ . LendingPatterns™ is up to date with the CFPB’s most recent Snapshot National Loan Level HMDA Dataset…
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2018 HMDA and Fair Lending Pricing Analysis
My blog post from April 3 explored whether and how 2018 HMDA changes cause the mortgage underwriting analysis to change. This blog similarly delves into the mortgage pricing analysis. (You will notice some common language between the two blogs.) If you have been doing a thorough pricing analysis, the best advice is to keep doing…