MCLEAN, VA. (PRWEB) MARCH 11, 2019
ComplianceTech today announces enhancements to LendingPatterns™ in advance of the 2018 HMDA data release by the Consumer Financial Protection Bureau (CFPB). LendingPatterns™ now includes the ability to analyze mortgage lending activity using the expanded HMDA data fields, such as applicant age, debt-to-income, combined loan-to-value and property value.
“The public release of 2018 HMDA data in the new format will be a game changer. Now is the time for credit unions, as well as other lenders, to gain the insight they need to manage both compliance and strategic lending. The onus is on the lender to know their respective HMDA data story,” said Maurice Jourdain-Earl, Managing Director of ComplianceTech.