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2020: A Guide to HMDA Reporting: Getting It Right!
Download the latest HMDA Guide: 2020: A Guide to HMDA Reporting: Getting It Right!
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How to Avoid HMDA Reporting Pitfalls From Industry Experts
The public’s interpretation of HMDA data depends on lenders’ consistent application of Reg C, and failure to comply with Reg C could bring stiff penalties from regulatory agencies. ComplianceTech is looking out for HMDA filers in their efforts to ensure perfect HMDA submissions. The challenge that you face is two-fold: one is to pass the HMDA…
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Top Priority Events for Your Fair Lending Strategy in 2020
The year 2020 has just started, and this is the perfect time for businesses to plan out their seminars and conferences in the new year. Do you know where to send your staff for the best information to grow your financial institution? Here are just a few of the best conferences happening this year that…
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Proposed Changes to Community Reinvestment Act Regulations
A proposed CRA rule change may affect banking practices and standards for lending. Here’s what you need to know about these recommended regulations. What is the Community Reinvestment Act? The Community Reinvestment Act (CRA) was enacted in 1977 to motivate financial institutions to meet the credit needs of low-and-moderate-income (LMI) neighborhoods in America. Federal regulators…
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Increase in FHA Mortgage Limits for 2020
If you’re lending funds to future homeowners in 2020, an increase in FHA loan limits in your local county may impact your daily operations. What is FHA? The Federal Housing Administration (FHA) provides mortgage insurance on loans made by approved lenders, like you, throughout America and is one of the largest mortgage insurers worldwide with…
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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, I’ll describe the major developments over the last…
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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 mortgages to purchase and securitize from financial institutions. Let’s take a look…
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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 demographic file features some reorganization of metro areas affecting counties…
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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 software available to independent mortgage companies and financial institutions. We are happy to announce that…
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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 CFPB’s annual HMDA release. Here are some of the major takeaways from…