Monthly Archives: December 2015

Justice Department Reaches Fair Lending Settlement with Sage Bank

The Justice Department reached a settlement with Massachusett-based Sage Bank over allegations that the mortgage lender violated the Fair Housing Act and the Equal Credit Opportunity Act (ECOA). According to a November 30 complaint and proposed consent order, DOJ alleged that Sage Bank engaged “in a pattern or practice of discrimination on the basis of [...]

December 3rd, 2015|

What the 2014 HMDA Data Can Tell You About Your Exposure to HMDA Compliance Risk

The September release of the 2014 data submitted under the Home Mortgage Disclosure Act (HMDA) has several uses. In this article, we discuss the utility of these data in evaluating your institution’s exposure to HMDA compliance risk related to two data categories: government monitoring information and action type coding. By benchmarking your organization’s performance against [...]

December 1st, 2015|