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Uncover Loan Production Opportunities Using HMDA Data
Say the word “HMDA” to a mortgage lender and the first things that come to mind are data collection, filing deadline and fair lending compliance. After the HMDA-LAR has been submitted, wise compliance officers turn their attention to analyzing their data for fair lending risks. Even wiser compliance officers will involve other departments outside of…
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Time to be conscious of changing demographics
It is a good idea to study your top markets and familiarize yourself with the changing demographics in those geographies. But especially now, as the data used in market penetration analyses are changing, it would be wise to devote some attention to demographics. Recent redlining cases brought by CFPB and DOJ advanced an approach to…
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Pathway to Fair Lending Excellence
ComplianceTech is featured in this month’s Banking CIO Outlook. Maurice Jourdain-Earl, Managing Director, of ComplianceTech spoke to editors about ComplianceTech and our fair lending analytical tools. The article appears in Banking CIO Outlook. .
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Wall Street Journal Article – Tax Law Could Further Slow Down a Bank Favorite: Jumbo Mortgages
The Wall Street Journal utilized LendingPatterns.com for data used in an article on Jumbo Mortgages. Click here to read the article.
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Features of Fair Lending Magic™
Getting Started Register online and get started with fair lending analysis the same day Prepare HMDA data and test for early compliance with 2018 HMDA submission specifications Import data from any LOS or servicing system Assess the quantity and quality of data through intelligent data verification module No multi-year contract obligation Guided Analysis User-friendly dashboard…
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Mortgage Lending and the Community Reinvestment Act: Does CRA Make a Difference?
Read the December Fair Lending Guide in Mortgage Compliance Magazine. It contains insights from Michael Taliefero, Managing Director of ComplianceTech. Article Preview: The Community Reinvestment Act (CRA), enacted by Congress in 1977, is designed to encourage depository institutions to help meet the credit needs of the low/moderate income (LMI) borrowers or LMI communities from which…
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The 2016 HMDA Data and the Avalanche of Data to Come
Read the November Fair Lending Guide in Mortgage Compliance Magazine. It has interesting insights from Michael Taliefero, Managing Director of ComplianceTech. Article Preview Things are getting very interesting on the HMDA data front. Near the end of September 2017, the 2016 public HMDA data was released. By April 1, 2018, the 2017 national HMDA database…
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2016 HMDA Shows One Million Jump in Mortgages
The 2016 Home Mortgage Disclosure Act data is out! Analyses of it from LendingPatterns™ will be available shortly, but in the meantime I am going to look at the Fed analysis that has just been released on last year’s lending. The Fed report shows 2016 lending volume to be up 13 percent from 2015, to…
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California Is Number One, but Who Is Number Two?
The top state for mortgages last year, this year and every year, is California. But which is the nation’s second state for home loans? Is it Florida, Texas, New York, Illinois? Early look Home Mortgage Disclosure Act (HMDA) reporters show that as of Sept. 25, it was Florida. We’ll see if that holds up when…
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Nearly Half a Million HMDA Mortgages in California
As the fall gets underway I am looking forward to the release of the full 2016 Home Mortgage Data Act (HMDA) report by the Federal Financial Institutions Examination Council. In the meantime, let’s see what Early Look filers will tell us about the biggest mortgage state, California. As of Sept. 18, early look lenders who…