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ComplianceTech Announces the Availability of 2020 HMDA data in LendingPatterns™
The 2020 Modified LARs released by CFPB on March 31, 2021, are now available in LendingPatterns™. LendingPatterns™ is a web-based data mining and analytical tool that uses public and private Home Mortgage Disclosure Act (HMDA) data to analyze loan applications for every lender required to report HMDA data. The web-based tool now contains 16 years of…
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ComplianceTech selected as HousingWire 2021 HW Tech100 Mortgage Honoree
The 2021 HW Tech100 Mortgage winners have been officially announced and ComplianceTech has been selected as a 2021 HW Tech100 Mortgage winner! ComplianceTech provides a complete suite of web-based software to make fair and responsible lending easier. The company’s innovative suite of web-based solutions, including HMDA Ready, CRA Check, LendingPatterns, Fair Lending Magic, and…
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ComplianceTech and Tuscan Club University Present Fair Lending Training for Compliance Professionals
Hear from a former regulator and learn insights on how regulators examine your fair lending program. We will go through the life cycle of a loan. We will cover all of the fair lending risks along the way and what it means for your company. As a compliance and audit professional, you need to be…
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A Holistic View of Fair Lending: The Loan Lifecycle
We are pleased to post a blog written by a guest author. As a former examiner with the FDIC, Tory Haggerty has a lot to share and offers some practical advice on his view of fair lending monitoring and identifying hidden risks. He poses critical questions that every compliance officer should be able to answer. …
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November 10th Blog Post
Every year, thousands of financial institutions across the United States gather their HMDA data and submit it to the Consumer Financial Protection Bureau (CFPB) for its use to monitor community housing needs; to compile lending statistics; and to identify predatory lending practices. This means that the CFPB is constantly analyzing new trends in the financial sector, which…
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ComplianceTech will present at the CUNA Fair Lending eSchool in December
Dana Ginsburg from ComplianceTech will present at the CUNA Fair Lending eSchool on December 15, 2020. The topic of the webinar is “Using Data-Driven Analytical Tools for Fair Lending Assessments: Know Where Your Risk Is Learn the advantages of using web-based software tools to conduct self-assessments and prepare for fair lending exams.” Use this link…
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It’s All About Underwriting and Pricing Exceptions
One key component to any fair lending monitoring program is robust monitoring of underwriting and pricing exceptions. The Interagency Fair Lending Examinations Procedures indicate that institutions face increased fair lending risk if internal policies are vague with respect to the granting of exceptions. Written policies should be in place that explain the process for submitting, evaluating, approving,…
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Interesting Facts About the 2019 HMDA Data
The CFPB released the final 2019 National Snapshot HMDA data about three months earlier than last year, and ComplianceTech has refreshed LendingPatterns™ with the latest data. An initial review of the data reveals the following interesting facts. There were a total of 5,508 lenders who reported over 17.5 million mortgage LAR records. Of those records:…
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The COVID-19 Forbearance Moratorium Enlarges the Wound Caused by the Lack of Homeownership in Black America
Maurice Jourdain-Earl, Managing Director of ComplianceTech published this article on LinkedIn: The COVID-19 Forbearance Moratorium Enlarges the Wound Caused by the Lack of Homeownership in Black America. You can access the full article by clicking this link.
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Easy Way to Analyze PPP Loans – Small Business Lending Analysis
We have been fielding interesting questions from our Fair Lending Magic™ subscribers who are preparing information for monthly CRA and fair lending committees about SBA loans in the pipeline. As we all know, the SBA Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. …