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ComplianceTech Recognized for Market Readiness in CFPB Tech Sprint 2021
ComplianceTech was recognized in the category of Market Readiness during the recent CFPB HMDA Tech Sprint. Seventeen teams participated in the event to develop innovations in HMDA submissions and/or reporting. During the demonstration day, ComplianceTech received recognition for Market Readiness in the publication track. The full presentation for the HMDA Sprint is available online.
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Expanding Black Homeownership Webinar
The American Bankers Association hosted a Free webinar titled, “Be Part of the Change: Expanding Black Homeownership,” on June 29, 2021. ComplianceTech Managing Director, Maurice Jourdain-Earl, was one of the featured panelists for the webinar. The webinar registration link is available to access the recorded presentation. As described on the site, the webinar covered the following…
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House Financial Services Committee passes legislation to help combat lending discrimination
The House Financial Services Committee announces today they passed legislation to help combat lending discrimination and support LGBTQ-Owned Businesses. The bills passed by the Committee included: The Fair Lending for All Act (H.R. 166), a bill by Representative Al Green (D-TX), which would update the Equal Credit Opportunity Act and Home Mortgage Data Collection Act to help…
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HUD Makes More Than $20 Million Available to Community Housing Groups
Non-profit organizations have until June 14, 2021 to apply for U.S. Department of Housing and Urban Development grants to support fair housing testing, education, enforcement activities. According to the press release on May 3, 2021, there is over $20 million is available. There are three categories of grants being made available to non-profits, including: Education and Outreach…
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Loan volume growth, interest rate cuts, and third-party lending
In my previous blog, I wrote about the drivers of Fannie Mae’s increased purchasing activity. This blog will explore the extent to which that growth was driven by declining interest rates. I want to show a chart that distinguishes transactions based on whether the HMDA-reporting institution is doing business with a third party, but first…
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Digging into growth trends in the 2020 HMDA Modified LAR data
The American public has known for some time that 2020 was a year of dramatically increased mortgage lending activity. The Mortgage Bankers Association published its own survey and forecast data, and the GSEs reported on their increased levels of mortgage loan purchasing. Now that the CFPB has released its “modified” HMDA LAR data on March…
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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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National Credit Union Administration (NCUA) Selects the ComplianceTech Suite™ of Products for Credit Union Fair Lending Examinations
ComplianceTech, McLean, VA, today announced the National Credit Union Administration (NCUA) has selected its web-based suite of specialized software products including LendingPatterns™, Fair Lending Magic™, Fair Servicing™, and HMDA Ready™ . The suite will be used to complete onsite and offsite fair lending examinations and perform offsite monitoring of approximately 1,700 reporting credit unions under…
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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…