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Redlining Analysis: How it Works, and the Mitigating Factors You Should Consider
In LendingPatterns™ there are two methodologies to determine statistical evidence of redlining. Both approaches use the z-test, the standard test to determine whether differences in proportions are statistically significant. The p-value output from the z-test gets...
5 Things You Need to Know About ComplianceTech’s LendingPatterns™
5 Things You Need to Know About ComplianceTech’s LendingPatterns™ The infographic depicts the an overview of the 2017 HMDA data released by CFPB on May 7th. Below, you'll find 5 Things You Need to Know about ComplianceTech's LendingPatterns™ . LendingPatterns™...
2018 HMDA and Fair Lending Pricing Analysis
My blog post from April 3 explored whether and how 2018 HMDA changes cause the mortgage underwriting analysis to change. This blog similarly delves into the mortgage pricing analysis. (You will notice some common language between the two blogs.) If you have been doing...
Do GSE Affordable Housing Goals support fair access to credit?
Among the financial institutions bailed out by the government after the great recession circa 2008, only Fannie Mae and Freddie Mac (the “GSEs”) are still in conservatorship under the supervision of the Federal Housing Finance Agency (FHFA). In exchange for the...
Processing Time and the Quest to Produce Loans Profitably
LendingPatterns™ is more than a HMDA fair lending analysis tool. New in LendingPatterns™ are two pipeline reports that analyze the average processing time by action taken. Even though the reports cannot be used for monitoring secondary hedging/coverage...
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...
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...
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...
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...
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...
Are you Using HMDA Data for Strategic Planning? You Should Be
As a mortgage compliance professional you know your fair lending responsibility as it relates to HMDA, but I want to go beyond and discuss how to use HMDA data for strategic planning. If you are concerned with corporate growth and development, then you know this...
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...
2018 HMDA and Fair Lending Underwriting Analysis
As the first quarter of 2018 ends, many compliance officers will be interested in doing a preliminary analysis of their 2018 HMDA data. This blog focuses on how underwriting analysis changes going forward. If you have been doing a thorough analysis, the best advice is...
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...
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...