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Create your own early look using competitors’ 2018 HMDA LARs
At ComplianceTech, we love data analysis, so last Friday’s release of new HMDA data was a truly exciting day. Unfortunately, we will have to wait until the release of the CFPB “snapshot” data for the full data to be in LendingPatterns(TM). Those who are really anxious to look at their competitors’ data can download the…
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Preparing for the 2018 HMDA Submission
The Home Mortgage Disclosure Act makes essential information accessible for professionals in the financial industry to help us all make better decisions based on data analysis. Be sure to check out the Bureau’s last update for the most recent changes before submitting your LARs. Here’s what you need to know about the HMDA, new rules,…
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What LendingPatterns™ Can Teach You About the BB&T and SunTrust Merger
The announcement of the BB&T and SunTrust merger on February 7, 2019 has me thinking about its impact on the industry as well as what lenders might learn by looking at the data behind the merger. The good news is that it’s easy to create pseudo bank mergers using LendingPatterns™, ComplianceTech’s web-based tool that aggregates…
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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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Sizing the market in LendingPatterns™
Before a lender enters a market, it needs to gauge the size of the business opportunity. An accurate understanding of historical loan production in each metro area, county, state, city and even census tract can help size the opportunity and the amount or location of resources needed to seize it. All of this is available…
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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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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…
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Rural America Gets Mortgages, Too
With LendingPatterns™ you can measure the volume of mortgages done in all of the country’s metropolitan statistical areas. But what if the rural parts of the country interest you as much as the urban parts? There is a good bit of information I’ve been able to glean from the database on rural lending. You can…
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More Than Half a Million Texans Got Mortgages in 2015
More than half a million Texans received mortgages in 2015 for more than $122 billion in home finance, Home Mortgage Disclosure Act data show. Specifically, 557,000 residents of the Lone Star State got mortgages, with more than 100,000 going to Hispanics (purchased loans are excluded from this analysis). In total more than 31 percent of…