Monthly Archives: August 2015

5 Steps to HMDA Compliance

New HMDA data collection requirements will most likely be issued this year, although the final scope and details, along with a date for when the regulations will go into effect, are still unknown. The extent of additional data collection fields required, and the changes in types of loans that will need to be reported, will be significant.  Meeting these new requirements [...]

August 10th, 2015|

Down Payment Misperceptions May Be Limiting Fair Lending and CRA

According to a recent survey conducted by Wells Fargo, a majority of African Americans and Hispanics believe that a 20 percent down payment is required to purchase a new home (source: Boston.com, 8/3/15): Consumers also overestimated the amount of money needed for down payment funds to qualify for a home loan, with 36 percent believing [...]

August 5th, 2015|