The Home Mortgage Disclosure Act (HMDA) requires covered institutions to make loan information available to the public. Regulators, examiners, academics, industry leaders, and members of the general public rely on these data to analyze the performance of mortgage lenders in achieving the goals established under the Equal Credit Opportunity Act (ECOA), the Fair Housing Act [...]
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 [...]
ADI assists a mortgage lender with a national presence complete a full scrub of its LARs for resubmission within a tight timeframe.
On September 22, 2014, in accordance with the Home Mortgage Disclosure Act (HMDA), the FFIEC released to the public the HMDA database for the 2013 reporting year. The public data can be leveraged as an asset that can support Fair Lending and CRA compliance as well as marketing efforts. The following are five ways lenders [...]
The 2013 HMDA data is now available. Through ADI Data ConnectSM, we created this infographic. 2013 HMDA reportable applications and loans were down in 2013 due primarily to lower volume for refinance mortgages. The decline was concentrated along the Pacific coast and throughout much of the East, in particular the Northeast and the Midwest. This [...]
