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5 Reasons to Consider Hiring a Compliance Consultant
As we sit back and watch the world unfold in front of us on a daily basis, we have the ability to witness technological advances in everything from medicine to space travel. We’ve seen governments change and individuals come and go. But the one thing that has remained constant is time. Since the beginning, it…
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How to generate a 2018 HMDA TXT file using the CFPB LAR Formatting Tool
If you have a loan origination system extract handy, and you want to generate a 2018 HMDA TXT file for analysis in LendingPatterns™ or Fair Lending Magic™, here is a how-to guide on preparation of the file. 1) Download the macro-enabled spreadsheet from the CFPB URL below (accessed May 7, 2018): https://www.consumerfinance.gov/data-research/hmda/static/lar-formatting-tool/2018/HMDA_2018_LAR_Formatting_Tool.xlsm 2) Within Excel,…
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ComplianceTech launches LendingPatterns Lite™, a New Website Designed to Serve Those with a Need to Know More about Mortgage Lending in America
ComplianceTech, McLean, VA, announces the release of www.LendingPatternsLite. This new free site is designed to serve those with a need to know more about mortgage lending in America. It makes the power of the Home Mortgage Disclosure Act (HMDA) data accessible to everyone, anytime, on an easy to use intuitive website. To gain access to…
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2017 EarlyLook HMDA Data Available in LendingPatterns™
MCLEAN, VA April 18, 2018 – Today ComplianceTech announced the availability of an early look of the 2017 HMDA data in its widely used LendingPatterns™ application. LendingPatterns™ is an advanced fair lending and compliance data analysis tool used by every major sector of the mortgage lending industry, including lenders, regulators, GSEs, enforcement agencies, fair housing…
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Quickly Analyze HMDA 2018 Today!
The ability to import 2018 format TXT files as Private Data is now available in LendingPatterns™. The link to the file specs can be found online: https://www.consumerfinance.gov/data-research/hmda/static/for-filers/2018/2018-hmda-fig.pdf.) There is no change to available reports in LendingPatterns™. In the process of importing, LendingPatterns™ will transform your Private Data into pre-2018 format. Our approach is to…
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ComplianceTech Named to HousingWire 2018 Tech100
ComplianceTech was named to The 2018 HW Tech100 by HousingWire Magazine.
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For Lenders Only: Using HMDA Data to Improve Secondary Market Sales Execution and Pricing
Mortgage banking involves originating loans in the primary market for sale in the secondary market, thereby replenishing the lender’s funds for new loans. Methods of sale can be through securitization or whole loan trades. For whole loan trades, one secondary market strategy is to sell production through third party correspondent lending programs. Selecting a desired…
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Helpful Hints About Peer Analysis
In our blog on February 13th, we discussed the importance of conducting a peer analysis to compare a lender’s performance in the context of other lenders in the same market. This is the only way a given lender’s performance can be said to be above or below expectations. When it comes to fair lending analysis…
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Why We Love Branch Analysis (And You Should, Too!)
Analyzing branch penetration helps lenders see how many branches are in minority areas. Several legal cases point to the importance of self-monitoring by conducting a branch penetration analysis showing your branches’ concentration in high-minority areas. In March 2017, the U.S. Department of Housing and Urban Development (HUD) reached a fair lending Conciliation Agreement with a…
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HMDA Reporting: A Deep Dive Infographic
Credit Union Times features HMDA data from LendingPatterns™ in the February 28, 2018 edition of the paper.