News

RATA Releases FFIEC 2022 Demographics Phases 1 and 2

Added on April 26, 2022

As mentioned in previous articles, this year's release of the 2022 FFIEC demographic data is being released in phases because it is the first year of the 2020 Census data. On March 18th, the FFIEC released an article outlining the timeframe for the 2022 Demographic Data release (FFIEC Releases Timeline for 2022 Census and Demographic Data). On March 30th, the first phase of this data was released, relating to population counts derived from the ACS 5-Year Survey (2016-2020). Unfortunately, that release did not contain enough data to make it worth converting and releasing. That data contained the following fields: Small County Indicator Population (Total) Population (Minority) Minority Population (Percent) Population (Hispanic) Population (Non-Hispanic) Population (White) Population (Black)…

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RATA Releases NON-OFFICIAL 2021 HMDA Peer Data

Added on March 29, 2022

As stated in the previous article (below), we have downloaded the individual 2021 Modified LAR data from the CFPB, combined it, reformatted it and merged it with last year's transmittal data for searchability. We have tested to make sure the numbers look reasonable and believe them to be correct for now, but there are normally resubmissions and changes to the "official" data that is usually released by the CFPB in June. This data can be downloaded from the RATA Support Site. Note to RHS Users: There is no action that needs to be taken on your RHS system. The temporary peer data is available in RATA Hosted Services (RHS). Important: There was an increase in the HMDA volume this year and there are now over 26 million applications and the data and will be over 16G added to your Comply…

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FFIEC Releases Timeline for 2022 Census and Demographic Data

Added on March 18, 2022

On March 18th, the FFIEC published an alert regarding the 2022 Census and Demographic Data availability. The alert states that due to various delays, including those related to the ongoing pandemic, the release of the data for CRA and HMDA purposes was not available as planned. It further specifies a rough timeline as to when to expect each piece of the full dataset. The text from the FFIEC alert follows: Due to delays with multiple products from the U.S. Census Bureau, the FFIEC has faced challenges in releasing the 2022 FFIEC Census products. In order to respond to user needs, the FFIEC will release the various FFIEC Census products in a sequential manner as the data become available. Using the Census Redistricting Data released on August 12, 2021, the FFIEC will release a limited flat…

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RATA announces the release of the Year-End Geocode Redo file: Please apply before submitting

Added on February 1, 2022

Thank you as always for using the RATA Comply software and Geocoding services to help with your HMDA and/or CRA submissions. As part of our efforts to ensure that you have the highest quality and most current geocode results for submission, we re-geocode every application that was submitted prior to January 25th to try and improve the precision codes. We go through the file to look for improvements to any geocodes based on the precision codes and then return any improved results in the Year-End (YE) geocode update file. This file should be applied to your Comply system at your earliest convenience to assure that these improved results are a part of your submission. The YE update file will only affect records submitted before January 25, 2022. If you have submitted more geocoding after…

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FFIEC Releases CRA Peer, Performance Evaluation, and Market Share Data

Added on December 23, 2021

The CRA Peer, Performance Evaluation, and Market Share data are now available for use in Comply. The 2020 CRA Aggregate and Disclosure data, used for CRA Peer analysis, was released on Tuesday, December 21. This year, like the last couple of years, there was a major delay in the release of this data. This data used to be released within a month or so of the HMDA peer data, which was released on June 17, 2021. Although it is extremely late from the government, RATA has completed the process of converting the data for use in Comply. The name of this file is PEERCRA20. The peer data always needs to be manually downloaded from the RATA Support Site and imported into Comply, using the Import System Data function, as these files are very large in size. For this reason, we recommend that you…

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RATA Associates: Holidays and Staffing

Added on December 23, 2021

RATA Associates would like to wish you and your team a very Happy Holiday Season!  We would also like to let you know that due to the holidays we will have limited staffing.  Our offices will be closed on Friday 12/24/2021 and Friday 12/31/2021.

We would like to wish you a Merry Christmas & Happy 2022.  Because you're so special.. instead of 1 card we just had to send 2! 😊

https://www.rataassociates.com/holiday/?v=pinball

https://www.rataassociates.com/holiday/?v=cardboard

 

RATA Ready for 2020 Census Data

Added on December 23, 2021

(Geocoding, Mapping, Demographics and Geographic Areas) In preparation for the 2022 reporting year, we have updated our geocoding systems to return geocodes for 2022 based upon the 2020 Census Tracts, as defined by the Census Bureau. We are fully ready to return the correct tracts as soon as geocoding begins in earnest for the 2022 reporting year. As part of this update, there are several aspects that affect Comply directly as follows: A Demographic Update for the 2022 reporting year has been released. This incorporates the new 2020 Census Tracts, however, there is a caveat to this data. The demographics are not yet available from the FFIEC, so in order to keep reports and other aspects of Comply operating in the familiar fashion, we have copied forward the 2021 demographic data to the…

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2020 Census Tracts and Demographics

Added on December 15, 2021

As most of you are aware, the 2020 U.S. Census occurred two years ago. When preparing for the census, the Census Bureau redefines Census Tract boundaries based upon the estimated population of an area. After the census, these new Census Tract boundaries are updated with the demographic profile of the recorded data for that area. Typically the world moves forward with the census tract changes early in the year following the census, however, the CFPB/FFIEC typically lags by a year for HMDA/CRA purposes; they require the new data and boundaries beginning two years after the census (i.e. 2022) for purposes of data collection and submission. RATA Associates has been in the HMDA/CRA arena for over 30 years now and has been through this process twice already (1990 > 2000 and 2000 > 2010). We…

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RATA Now Recommends SQL 2017 or higher for Comply Installations

Added on December 7, 2021

For technical reasons and because support has ended for SQL 2012, the Comply 21 update now requires SQL Server 2014 or higher for both new installations and updates. Microsoft ended mainstream support for SQL Server 2012 on July 11, 2017, and extended support will be ending on July 12, 2022. SQL Server 2012 has inherent security issues that necessitate migration to newer versions. Comply always supports all versions of SQL Server that are in mainstream support. We will also try to support SQL Server through any extended support period as much as possible. But support for a SQL Server version cannot be guaranteed after mainstream support ends if there are potential security issues or there are important pieces of functionality that Comply requires. Mainstream support has also ended for SQL…

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Comply 21.01 (IMPORTANT MESSAGE)

Added on November 16, 2021

IMPORTANT MESSAGE: We have identified an issue with Comply 21.0 that has necessitated a change and will result in Comply 21.01 being released tomorrow, November 17th. If you have already downloaded the Comply 21.0 update, but have not yet embarked upon installation to your production systems, it would be in your best interest to await the 21.01 update. The issue that has arisen affects the Auto-Update feature as well as import operations using Auto-Pilot. There are workarounds for the issues, but if you haven't installed yet or you can do another update we would recommend the 21.01 version. We apologize for any inconvenience this may have caused you. Please contact us if you have any questions. To all RATA Hosted Services (RHS) clients, we will be installing the 21.01 update tomorrow…

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CFPB Gives Guidance on Census Tract Boundaries for 2021 and 2022 Data

Added on October 25, 2021

The CFPB just release a statement to give guidance on what census tract boundaries to use for both 2021 and 2022 HMDA data.  The guidance is basically the same as it has been for each decennial census in the past.  Here is their text: In February 2021, the U.S. Census Bureau released the 2020 Census Data tract boundaries. As a reminder, Regulation C, 12 CFR 1003.4(a)(9)(ii)(C) requires financial institutions to provide census tract information for certain properties. To determine what to report for this data point, a covered financial institution must look to the "most recent decennial census conducted by the U.S. Census Bureau" and "use the boundaries and codes in effect on January 1 of the calendar year covered by the loan/application register that it is reporting." As a…

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CFPB, DOJ and OCC Take Action Against Trustmark National Bank for Deliberate Discrimination Against Black and Hispanic Families

Added on October 22, 2021

CFPB, DOJ and OCC Take Action Against Trustmark National Bank for Deliberate Discrimination Against Black and Hispanic Families

Trustmark to Pay $5 Million Penalty and $3.85 Million to Increase Mortgage Credit Access in Memphis Neighborhoods Impacted by Redlining WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), took action today to put an end to alleged redlining by Trustmark National Bank.  The CFPB and DOJ allege that Trustmark discriminated against Black and Hispanic neighborhoods by deliberately not marketing, offering, or originating home loans to consumers in majority-Black and Hispanic neighborhoods in the Memphis metropolitan area. The CFPB and DOJ also allege that Trustmark discouraged consumers residing in or seeking credit for properties located in these…

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Small Business Regulatory Enforcement Fairness Act SBREFA (1071)

Added on September 29, 2021

On September 1, 2021, the Consumer Financial Protection Bureau (CFPB) published its Summary of Proposed Rulemaking in regards to changes to the Small Business Regulatory Enforcement Fairness Act (SBREFA) as dictated under section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Under the proposed changes, lenders will be required to compile, maintain, and submit the type and purpose of the loan, the census tract for the applicant's principal place of business, and the race, sex, and ethnicity of the principal owners of the business, along with a number of other data points. RATA has reviewed the proposed rulemaking and found that this will coexist perfectly within Comply as a separate SBREFA component alongside CRA and HMDA, and believe that Comply…

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Version 20.11 is available for download

Added on September 1, 2021

We have just released a 20.11 version of Comply that is now available for download. This version incorporates all of the earlier 20 releases and includes a number of changes and enhancements that we felt would be useful to some clients. We will be releasing our main submission release of Comply 21.0 sometime in the beginning of November which will contain all of these changes and many more. Based on your update procedures, some of you may want to wait for that release to update. Please check the Change Log and/or Changes document on the Start Page of Comply to see all of the changes. That should help you and your team determine if this interim update should be installed at your institution. If you do want to install this update, you can download it from our support site at your…

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2020 HMDA Peer Data Official Release is Available

Added on June 28, 2021

Added on June 25, 2021 The CFPB has released the official 2020 national HMDA peer data as of June 17th. RATA downloaded the data and quickly began formatting it for use in the Comply software, making sure to match all Institution IDs with the preliminary data release on April 7th. By ensuring that the Institution IDs align with one another between these sets of data, all Peer Institution Groups created with the preliminary data will continue to work the same as before. It is the CFPB's intent to periodically release updates to the 2020 HMDA data based upon re-submissions, late submission etc. and we intend to review the extent of any changes in 3 months' time to see if any updates are warranted. During the conversion process, differences were noted between the preliminary data and the…

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Comply 20.1 is now available

Added on May 27, 2021

Since the release of Comply 20.01 in early December of last year, our team has been actively making changes and adding features to improve your Comply experience. This version brings those changes to your system once the update is applied, including: a resolution for the beeping sound some users experienced when Auto Update auto apply was enabled; the addition of QCOK reports to the CRA component; additional selections in the edit check wizard; the removal of automatic rounding for Income in CRA and HMDA; a function to identify jumbo mortgages – and many more. For more details and a complete list of changes, please see our newly-formatted changes document, located on the Start Page under Resources (also available on the support site). This new format describes the changes in more…

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RATA Support Hours and 2020 HMDA/CRA Submissions Information

Added on February 26, 2021

Hope all is going well with your HMDA and/or CRA submission(s). You have until end of day Monday, March 1st to get your files submitted and be considered "on time". If you are still processing your file or just starting, you are really pushing it to the edge. We have been eagerly awaiting your call and most likely have already attempted to contact you to see if we can help. So, if you are looking for help we have some good news and some bad news for you. First the bad news - RATA Associates is not doing "official" support over the weekend. There just hasn't been the need or demand for it this year. But, we will point you to some reference materials below that should answer most of your questions. The good news - We still have all day Monday to help you with any problems or last-minute…

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RATA End of Year Geocode ReDo file: Please apply before submitting

Added on February 2, 2021

Thank you as always for using the RATA Comply software and Geocoding services to help with your HMDA and/or CRA submissions. As part of our efforts to ensure that you have the highest quality and most current geocode results for submission, we re-geocode every address that was submitted prior to February. We go through the file to look for improvements to any geocodes based on the precision codes and then return any improved results in the Year-End (YE) geocode update file. This file should be applied to your Comply system at your earliest convenience to assure that these improved results are a part of your submission. The YE update file will only affect records submitted before February. If you have submitted more geocoding after that date, those records will have already been geocoded…

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FFIEC Releases CRA Peer Data

Added on December 16, 2020

UPDATE: The CRA Peer, Performance Evaluation and Market Share data is now available and can be downloaded from the support site. The 2019 CRA Aggregate and Disclosure data, used for CRA Peer analysis, was finally released on Monday, December 14. This year, like the last, there was a major delay in the release of this data for some undisclosed reason. Due to the smaller volume of this data, we typically see it released a month or so prior to the HMDA data, which was released August 30. We have completed the process of converting the data for use in Comply, Comply Peer2Peer and DataMine. The name of this file is PEERCRA19. The CRA Performance Evaluation table data was also compiled and has already been released through Auto-Updates and posted to the RATA Support Website. The name of this…

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Comply 20.01 Now Available

Added on December 10, 2020

Since the release of Comply 20.0 in late October, a few changes have been made that can affect your Comply experience. A fix to correct filtering made just prior to the release of Comply 20.0 inadvertently broke the Quick Set functionality. While there was a workaround for that using Global Set, the bigger issue was that it affected Automation in Fair Lending. Secondly, an issue surfaced where creating Peer HMDA entities using institutions with identical names was causing a duplication error. Lastly, just yesterday, the FFIEC published edit changes to CRA for the 2020 reporting year. While the edits do not affect submittable records, we took this opportunity to get them into the Comply 20.01 update. If your institution is interested in any of these changes or you have not installed the…

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CONSUMER FINANCIAL PROTECTION BUREAU ANNOUNCES SETTLEMENT WITH WASHINGTON FEDERAL BANK, N.A. FOR FLAWED MORTGAGE-LOAN DATA REPORTING

Added on October 28, 2020

CONSUMER FINANCIAL PROTECTION BUREAU ANNOUNCES SETTLEMENT WITH WASHINGTON FEDERAL BANK, N.A. FOR FLAWED MORTGAGE-LOAN DATA REPORTING

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (Bureau) settled with Washington Federal Bank, N.A., a federally insured national bank, to address the Bureau's finding that it reported inaccurate Home Mortgage Disclosure Act (HMDA) data about its mortgage transactions for 2016 and 2017.  Inaccurate HMDA data can make it difficult for the public and regulators to discover and stop discrimination in home mortgage lending or for public officials and lenders to tell whether a community's credit needs are being met.  The settlement requires Washington Federal to pay a $200,000 civil money penalty and develop and implement an effective compliance-management system to prevent future violations. The Bureau found that Washington Federal, headquartered in Seattle,…

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Comply 20 Is Now Available - October 26, 2020

Added on October 26, 2020

We are happy to announce that Comply 20 is now available on our support site for download. This version of Comply contains all of the latest edit and submission changes needed to submit your 2020 HMDA and CRA data. It also contains the new 2021 reporting year so you can start to collect and prepare for the 2021 submissions as well. A changes document will be posted to the support site later today and made available on the Start Page so that you will know what is fixed, updated and added to this latest version.  Because this is a submission version, it is mandatory and critical that you do this update before performing your 2020 submission and really it should be installed at your earliest convenience so that there are no surprises with the new or updated edit checks. In addition to…

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RATA Implementing the CRA Modernization

Added on September 18, 2020

The OCC published their Final Rule changes regarding modernization of CRA data collection on May 20th and there were several changes in the ruling that can affect Comply; both in the collection of CRA-reportable data as well as assessment area analysis. While most of the rule changes are a few years away from full implementation, there are some aspects that we are moving forward with now in Comply to gain some momentum. Specifically, the upcoming release of Comply 20.0 will include a geocode attribute that denotes if a geocoded loan or loan application is within a Native Land or Tribal Area. This addition, while in the spirit of the OCC changes, could be of value to CRA reporters of other agencies as well. We are also incorporating a field in the demographic data to facilitate…

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FFIEC Releases 2020 Demographic Data

Added on August 5, 2020

RATA Associates is pleased to announce that the 2020 FFIEC demographic data is now available for all RATA Clients. If you use Auto-Updates to keep your system data up to date, you should see the new data available the next time you log in to Comply. If you don't use Auto-Updates the data will be available on the RATA Support Site to download and import. Comply links the demographics to the geocoding in the system automatically so once you update your system all new reports and views of the data are retroactive for the entire year. For those of you using our QuickPoint Web Service (QPWS) to geocode applications real-time in your LOS systems, you will only receive the new demographics from today forward since they are sent at the time the geocode is assigned. Again, this is only an issue…

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2019 HMDA Peer Data is Available

Added on June 29, 2020

The CFPB has released the 2019 national HMDA peer data as of June 24th. RATA downloaded the data and quickly began formatting it for use in the Comply software. As of today (June 29) the data is ready for release to Comply customers. RATA will not be updating the Peer website with the 2019 data. As we previously announced, we have deprecated the old Peer website and have moved all of the Peer data and analysis functionality into the Comply 19.1 software update. To download the data for use in Comply, simply go to the support.rataassociates.com site and download the 2019 HMDA Peer Data file. Then import the data into Comply using the Import System Data icon on the Home Ribbon. There is a training video to show you how to download and import the data into Comply, and there is also a Peer…

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Comply Version 19.1 Update has been released

Added on May 12, 2020

Now that submission season is officially over and many of you are now analyzing data and starting your 2020 processing, we are happy to announce that a new version of Comply (version 19.1) is now available for download on our support site support.rataassociates.com. As usual this version contains some nice enhancements and new functionality as well as fixes to previously reported issues. A full list of enhancements and fixes can be found in our Changes document but here are some of the key new features. Key New Features (in no particular order) Date Expression in the filter designer where you can filter by quarter and month without needing a year so that these filters don't need to be copied each year to use. This is very handy for setting up non-year specific filters of your data and…

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2019 Modified LAR Data Release and Improved Peer-2-Peer in Comply

Added on April 3, 2020

As many of you may have noticed, the 2019 Modified LAR data was released by the CFPB/FFIEC on March 31st. While this information is useful for analyzing individual institution data, there is no transmittal information to help select your peer groups. If you know the name and LEI of one of your peers that you would like to analyze, you can download the individual data and load to a reporting entity in Comply. We have an Import definition that should help you with this.  The National Aggregate Dataset is the data we use to populate the Peer-2-Peer system with all of the reporters' data. This data includes the necessary respondent information in addition to the LAR data itself. We have attempted in the past to utilize this early release of the data, but what we found was that the data…

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Quarterly Submission Information for Required Institutions

Added on March 13, 2020

Beginning January 1, 2020, the 2015 HMDA Final Rule requires quarterly reporting for financial institutions that reported a combined total of at least 60,000 applications and covered loans, excluding purchased covered loans, for the preceding calendar year. Thus, in addition to their annual data submission, these larger-volume reporters will submit HMDA data for each of the first three quarters of the year on a quarterly basis.  If you meet the criteria for quarterly submissions, Comply is ready for you to begin that process. Simply follow the same processes you would for your annual submission process, perform geocoding operations, rate spread calculations, edit checks, etc...   Once you are ready to submit, simply go through the submission wizard and Comply will…

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RATA Support Hours and HMDA/CRA Submissions

Added on February 28, 2020

Hope all is going well with your HMDA and/or CRA submission(s). You have until end of day Monday, March 2nd to get your files submitted and be considered "on time". If you are still processing your file or just starting, you are really pushing it to the edge. We have been eagerly awaiting your call and most likely have already attempted to contact you to see if we can help. So if you are looking for help we have some good news and some bad news for you. First the bad news – RATA Associates is not doing support over the weekend. There just hasn't been the need or demand for it this year. But, we will point you to some reference materials below that should answer most of your questions. The good news – We still have all day Monday to help you with any problems or last-minute…

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RATA End of Year Geocode ReDo file: Please apply before submitting

Added on January 28, 2020

RATA End of Year Geocode ReDo file: Please apply before submitting

Thank you as always for using the RATA Comply software and Geocoding services to help with your HMDA and/or CRA submissions. As part of our efforts to ensure that you have the highest quality and most current geocode results for submission, we re-geocode every application that was submitted prior to January 24th to try and improve the precision codes. We go through the file to look for improvements to any geocodes based on the precision codes and then return any improved results in the Year-End (YE) geocode update file. This file should be applied to your Comply system at your earliest convenience to assure that these improved results are a part of your submission. The YE update file will only affect records submitted before January 24, 2020. If you have submitted more geocoding after…

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New and Improved RATA Support Site Unveiled

Added on January 2, 2020

Rolling into 2020, RATA has unveiled our new and improved support site.  The new site offers a more modern feel as well as tightened security features.  Feel free to stop by support.rataassociates.com and check it out. We have migrated all of the old account information to the new site, but we did not keep the old passwords.  All users, the first time they log-in, will need to reset their passwords.  To do this simply click on the Forgot Password button, enter your email and the site will send you an email to enter a new password. As with all new sites, we have tested everything under normal circumstances and it all worked great, however, if you run into an issue just give us a call (407) 831-7282 and we will resolve any issues asap.  Programmers are standing by.…

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FFIEC Releases CRA Peer Data

Added on December 18, 2019

UPDATE: The CRA Peer, Performance Evaluation and Market share data is now available and can be downloaded from the support site. The 2018 CRA Aggregate and Disclosure data, used for CRA Peer analysis, was finally released on Monday, December 16. This year there was a major delay in the release of this data for some undisclosed reason. Due to the smaller volume of this data, we typically see it released a month or so prior to the HMDA data, which was released August 30. We have completed the process of converting the data for use in Comply's CRA Performance Evaluation tables and DataMine, as well as the Comply Peer2Peer website. The name of this file is PEERCRA18. The CRA Performance Evaluation table data has already been released through Auto-Updates and posted to the RATA Support Website…

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Comply 19.02 is now available

Added on December 6, 2019

As you have probably seen, we released Comply 19 last week and many clients have already downloaded the update. We release the "submission" version around this time each year because some clients have freezes of software installations. As with any major upgrade, there will always be a punch list of minor issues that need to be tweaked after it is released. We have now released version 19.02 which mainly contains a fix for the HMDA Agency LAR export (text qualifiers were removed as they were causing an issue when using that file to upload to the beta platform). So far nothing critical has been found but a few little things to note are listed below. We will be adding to this list if we discover new things. We will add Updated and a date to the title if we add or change content. Important…

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Performance Evaluation data released for HMDA Only for CRA PE Tables

Added on December 5, 2019

Historically, RATA has released the PE Aggregate and Market data days after both have been released. The HMDA data was available a few months ago, so we have been waiting for the CRA data to create the tables and release the data. In past years, August has been the release month for CRA "Peer" data from the FFIEC, although in the last couple years, there have been later releases in November 2017 and October 2018. We have now surpassed those later release dates as well, with no indication as to when the data for the 2018 report year will be available. We have contacted the FFIEC on three occasions to inquire about the release schedule. Initially we were told the release would occur in the Fall, the second follow-up we were told the release would be mid-November, and now the third inquiry…

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RATA ZOOM Geocoder Changes

Added on December 3, 2019

The RATA ZOOM Geocoder has been a huge help to RATA customers trying to obtain the correct geocodes or trying verify hard-to-geocode addresses. When originally programmed, we were able to take advantage of cutting-edge technology that was provided by Google. One of those tools was called Google Fusion Tables which are used for generating and visualizing the Census Tracts and ZIP Code layers on top of the map. The Fusion Tables help store large amounts of data that could be accessed on the fly with Google Maps. Unfortunately, as of today (December 3, 2019), Google has officially discontinued and shut down the Fusion Tables tool. This has led us to develop a different methodology for layering the Census Tract boundaries and labels so that we could maintain the same functionality and…

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Comply 19 Has Been Released - November 15, 2019

Added on November 15, 2019

We are happy to announce that Comply 19 is now available on our support site for download. This version of Comply contains all of the latest edit changes needed to submit your 2019 HMDA and CRA data. It also contains the new 2020 reporting year so you can start to collect and prepare for the 2020 submissions as well. For the RATA customers that did more than 60,000 applications this year and have quarterly submission requirements, you will be happy to know that the Comply system is ready for that task as well. The article below has more details regarding some of the other more notable changes in this version. A document listing all of the changes for this version will be released and put in the Comply Resource tab over the next day or two. Please feel free to download and install the…

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2018 Peer Data (Classic format) Is Ready for Download from Support Site

Added on September 6, 2019

The much anticipated 2018 HMDA Peer data was finally released by the CFPB last Friday. We have finished converting the data and retro-fitting it back to the older peer format which should satisfy 98% of your Peer Analysis needs. We would have had it done yesterday, but there was a pesky storm named Dorian knocking on our door earlier this week. Anyway, you can download the peer data file (PEERHMDA18.RZ) to be used in Comply from our support site (support.rataassociates.com). Once downloaded you can import the data into Comply using the Import System Data option on the Data Manager ribbon. Once the data is imported, if you want to use it in DataMine you will need to Sync Data before running any Excel Pivot tables. You will also want to create new Peer groups and possibly Peer Reporting…

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Update on Hurricane Dorian

Added on September 4, 2019

As we are sure you have all seen on the news, hurricane Dorian gave Florida quite a scare but in the end turned just in the nick of time. Thank you all for your thoughts and prayers.  Because the storm stayed off shore and the impacts of the wind were negligible we have been able to come into the office pretty much as usual over the last two days.  The storm has passed us and central Florida is now officially out of danger of the storm.  RATA Associates is now back to full business as usual.  Thank you for your patience and understanding.   The forecast track for major Hurricane Dorian is showing that the eye will pass very close, if not directly over, the RATA facility in Longwood, FL. While our building is built to hurricane standards and we have a robust…

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2018 Peer Update

Added on August 30, 2019

The CFPB/FFIEC has just released the 2018 National HMDA data set and transmittal info we were all waiting for at 3:00pm EST 8/30/2019. As mentioned in the earlier Start Page article below, the data will be converted and released in two flavors. The first and most useful to all clients will be the Peer (classic) format which will basically take the 2018 data and create the older 2017 format and data fields. Since the data will be exactly the same as years past, it will work with your current Comply versions with no changes as well as the peer website. Since this data will take a little massaging to get into that format and because of the pending hurricane bearing down on Central Florida, we are hoping to release the data by next Thursday, Sept. 5th. For those needing or wanting to look at…

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Comply 18.22 Release is Now Available for Download

Added on July 22, 2019

The Comply 18.22 update is now on our support site and available for download. Our last two updates (18.21 and 18.22) contain only edit check changes. Version 18.22 includes the 4 edit changes that were released by the CFPB last week in their July 2019 FIG. The V644.2 and V648.2 edits were updated to allow code 3 for Sex of Applicant or Borrower/Co-Applicant or Co-Borrower Collected on the Basis of Visual Observation or Surname. The V696.2 and V699.1 edits were updated by removing code 17 for the five Automated Underwriting System Results fields. This update is not critical but will ensure that your edits are flagging correctly. If you'd rather wait, rest assured that these changes and much more will be available in our Fall Comply 19.00 submission release. If you are on a version prior…

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Install Issue and Remedy for clients receiving 'Error opening data source'

Added on May 13, 2019

When trying to install or update Comply, some customers have been getting a message "Error opening data source". This can be caused by a missing or corrupted installation of SQL Server Native Client on the user's machine. Prior to Comply v18.2, the Comply installation would use the operating system's version of OLE DB to connect to the database. However, Microsoft has deprecated these database drivers, which don't support later versions of TLS. With most customers disabling TLS 1.0, starting with v18.2 of Comply, the installation was updated to rely on a different database driver. Since these database drivers are no longer part of the operating system, Comply installs will install the SQL Server Native Client files when they are not present on a user's machine. However, there have been a…

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Update 3/1/2019 - Comply 365: Submission Edition

Added on March 1, 2019

New 3/1/2019: Missing LEI in Transmittal Causes Submission Error on Portal - It is very important to ensure that the LEI field is populated in the reporting entity transmittal properties for all HMDA reporting entities that you wish to submit for 2018 and beyond. If you create your submission file without first populating the LEI field, you will receive an error upon upload to the platform stating "In order to access the HMDA Platform, each of your institutions must have a Legal Entity Identifier (LEI)", and your submission will be rejected. If you experience this error when uploading your file, you will need to unlock your reporting entity, add your LEI to the properties, and then go through the submission wizard again, selecting the option to reset and recreate. Before uploading…

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BISG Proxy Data Update Available

Added on February 12, 2019

There is a new version of the Surname Probability table that is used for the Bayesian Improved Surname Geocoding (BISG) proxy methodology in Comply. We made some minor adjustments to the suppressed values in the table as per instructions in the CFPB proxy methodologies. These updated values can help increase the accuracy of the proxy calculations by less than one percent on average. You will want to update the data at your earliest convenience just to be fully up-to-date and get the best results possible. Updating the Surname table in Comply is a simple System Data import. If you use Auto Updates and the Census Bureau/Social Security Proxy Data option is checked, the new table should download automatically to be applied. This option is not normally on by default. To change it, simply go…

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End of Comply Support for SQL 2008

Added on February 6, 2019

Microsoft is ending support for SQL 2008 and RATA is following suit. Comply 18.1 is the last Comply update that will work with SQL 2008. There are features needed for ongoing development that are only available in SQL 2012 and higher so this move is a necessity. We stopped supporting new installations using SQL 2008 with the release of Comply 17 but we have allowed updates to still use the deprecated version of SQL Server. As far as we know, most, if not all of our clients, have migrated to SQL 2012 or higher. If you are one of the few remaining die-hards, please begin preparations to migrate to a newer SQL Server environment at your earliest convenience. Contact us at (407) 831-7282 if you have any questions or need additional information.

 

Comply 18.1 Update Is Now Available

Added on February 5, 2019

Comply 18.1 is now available for download from the RATA Support site. This version incorporates all of the earlier 17 and 18 updates along with other beneficial changes. If you have updated to 18.01 this release is not needed for submission.  However, if you can update it wouldn't hurt.  Every version of Comply is always a little better than the previous.  If you are updating from 18.00 or 18.01 this update should be just a normal update because all of the 18 updates conversions have already been done.  If you are updating from a Comply 17 system please read all of the important Comply 18 update info below because this update will run all of the 18 updates as well. If you have questions please call. Check the changes document to see a list of all changes to decide the…

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Possible Issue Updating from Comply 17 to Comply 18

Added on December 11, 2018

Overall the conversions from Comply 17 to Comply 18 have been very smooth. As we mentioned in the changes document and the download of Comply 18, this update performs some major transformations to the way Fair Lending data is stored, accessed and displayed. We tried to test for all permutations, but there are too many to try and duplicate. Most of the conversions have gone well but we have just been made aware of a scenario that is not converting correctly. If you have multiple period reviews with multiple workspaces under a single Reporting Entity, in certain circumstances these are not being named correctly and they are linking to incorrect data sets. Simply renaming the workspaces will not correct the issue. If you have run the update and this scenario affects your data, do not panic.…

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CRA Deposit Data

Added on November 27, 2018

The Federal Deposit Insurance Corporation's (FDIC) survey of branch office deposits, as of June 30, 2018 for all FDIC-insured institutions, has been converted and released for Comply users. The Summary of Deposits (SOD) annually provides deposit totals for each of the more than 88,000 domestic offices operated by more than 5,500 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks. The FDIC Summary of Deposits data is used in various CRA reports including the Performance Evaluation tables as well as in DataMine. In DataMine, users can locate branch offices in a particular geographic area and organize by tract income level for example. The data also includes the annual deposits for each branch as well as information on the parent institution…

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Demographic Update to Correct a Couple Rarely Used Fields

Added on November 21, 2018

RATA recently became aware of an issue with five demographic fields not being populated correctly when the FFIEC data was combined with the Community Development Financial Institutions and Federal Housing Finance Agency data for years 2010 to present. While these fields are seldom used by the majority of our clients, the fact that they were not properly updated necessitated that we correct the data and provide it to clients so that the correct information is available to you in the event you ever decide to utilize it.  The affected fields are as follows:  Investment Area Qualification (CDFI Investment Area Qualification),  New Markets Tax Credit Qualification (CDFI New Market Tax Credit Qualification) Low-Income Area (FHFA LYA) Difficult Development Area (FHFA DDA) …

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Comply 18.0 Update Is Now Available

Added on November 12, 2018

Comply 18.0 is now available for download from the RATA Support site. This version incorporates all of the earlier 17 releases along with other significant changes. As always, check the changes document to see a list of all changes to decide the update priority for your institution. The Comply 18 Update The Comply 18.0 release incorporates significant changes, many of which are related to the final HMDA rule as published by the Consumer Financial Protection Bureau (CFPB) on October 15, 2015 for 2018 HMDA data submission. However, a number of other exciting changes have been made throughout the Comply system. Many of these changes affect the way data is stored in the system so the update will take existing data and restructure it to work with the new methodologies going forward. Rest…

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Slight Delay with Comply Version 18 - Firm Release date 11/12/2018

Added on November 2, 2018

In our last Start Page Article we discussed how RATA was going to handle the 2018 submission, and more specifically, the Partial Exemption functionality. All of the submission functionality is done and working. We are now performing final Quality Assurance on that functionality as well as some major changes to mapping and the way Fair Lending data is managed. With so many changes, we are carefully going over every aspect of the software and as always, it takes a little longer than you anticipate. We said we would be releasing the software somewhere around the end of October. It is looking like we will probably need about one more week to tighten everything up to our standards. We will be hitting it hard over the next week and will have a release ready to distribute by end of day Monday,…

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FFIEC Releases 2017 CRA Peer Data

Added on October 26, 2018

The 2017 CRA Peer, Performance Evaluation and Market Share data is now available and can be downloaded from the support site. It is also available on the HMDA and CRA Peer website.

The 2017 CRA Aggregate data, used for CRA Peer analysis, was finally released on Thursday, October 25. Historically this data was released in the August/September timeframe, however like last year, this year's release was delayed for some undisclosed reason. The public HMDA data was available much earlier than usual this year and we are not sure why the FFIEC takes over six months longer to produce the CRA data. We converted the data for use in Comply's CRA Performance Evaluation tables and DataMine, as well as the Comply Peer2Peer website.

 

Comply Partial Exemption Processing

Added on October 3, 2018

The following changes will be available in Comply version 18, which is expected to be released at the end of October. On May 24, 2018, the President signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) into law. This resulted in a partial exemption of certain HMDA requirements for certain insured depository institutions and insured credit unions. The Consumer Financial Protection Bureau (CFPB) published its Interpretive Procedural Rule on August 30, 2018, outlining which Data Points are not required of institutions that meet the partial exemption requirements. This document is an overview of how Comply will address the partial exemption changes for any institution that meets the criteria and elects to follow the partial exemption for their HMDA submission.…

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Comply 17.13 Now Available

Added on September 13, 2018

Comply 17.13 is now available for download from the RATA Support site. This version incorporates all of the earlier 17 releases and can be implemented at your earliest convenience if needed. As always, check the changes document to see a list of all changes to decide the update priority for your institution. A few clients wanted to test the 2018 submission files on the CFPB portal, so with this version we have enabled the 2018 submission functionality. However, this is not the final submission version. We will be releasing our major update and official submission version of Comply 2018 near the end of October. The CFPB just released substantial changes to the submission process for partially exempt institutions. We will be implementing those changes as well as finalizing the edits and…

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Updated 2018 HMDA Changes - Economic Growth, Regulatory Relief, and Consumer Protection Act

Added on September 4, 2018

The CFPB just released updated 2018 HMDA submission requirements on Friday, August 31. These changes are for the 2018 data currently being collected, and must be used on this data that will be submitted in March 2019. There are both new and modified edits, as well as requirements for partially exempt institutions. We are still digesting the information as the documentation is quite verbose, as usual. We will be adding the submission changes to our Comply 18 release which is still expected to be available by the end of October, but wanted you to know that we are aware of the changes and are actively working on them. Here is a link to the official site:…

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FFIEC Releases 2018 Demographic Data

Added on August 20, 2018

RATA Associates is pleased to announce that the 2018 FFIEC demographic data is now available for all RATA Clients. If you use Auto-Updates to keep your system data up to date, you should see the new data available the next time you log in to Comply. If you don't use Auto-Updates the data will be available on the RATA Support Site to download and import. Please note that this is the second year that the demographic data is based on the 2015 ACS.  More info on the 2015 ACS below. Comply links the demographics to the geocoding in the system automatically so once you update your system all new reports and views of the data are retroactive for the entire year. For those of you using our QuickPoint Web Service (QPWS) to geocode applications real-time in your LOS systems, you will only…

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Comply 17.12 Now Available

Added on August 2, 2018

Comply 17.12 is now available for download. This version incorporates all of the earlier 17 releases and can be implemented at your earliest convenience, if needed. As always, check the changes document to see a list of all changes to decide the update priority for your institution. At the moment, we believe this new version of Comply is fully in sync with the 2018 CFPB FIG edit specifications as they have not published any changes since February. 

You can download the 17.12 update from our support site: https://support.rataassociates.com/dl_installs.asp

Feel free to contact us with any questions.

 

Comply 17.11 Now Available

Added on May 23, 2018

Comply 17.11 is now available for download. This version incorporates all of the earlier 17 releases and can be implemented at your earliest convenience. Since our 17.1 release in March, there have been changes made to Comply that affect both CRA and HMDA reporters. For CRA reporters, the 17.1 update inadvertently ceased to round the Loan Amount, which has been corrected in this release. There have also been a couple edit changes made to correct some Validity and Quality edits as published by the CFPB, including the Q617 edit. At the moment, we believe this new version of Comply is fully in sync with the 2018 CFPB FIG edit specifications as they have not published any changes since February. As always, check the changes document to see a list of all changes to decide the update priority…

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UPDATE: The Official 2017 Peer HMDA data is now available

Added on May 14, 2018

The Official 2017 Peer HMDA data is now available for Comply DataMine and the Peer-2-Peer website. The data is available on the RATA Support Site. If you downloaded and installed the pre-release version of the data, this will simply overwrite the old data. The DataMine tool allows institutions to create Excel pivot tables and custom reports with the peer data and also compare it to your current HMDA data. Once you have installed this data you will have to do a full Sync in Datamine to use it. The Peer-2-Peer product is a web-based tool designed to help you understand how your institution is lending compared to specific peers or the rest of the industry. The Peer tool can help you see Summary Lending data for any submitting institution as well as Ranking reports and Market Share reports.…

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Comply 17.1 Now Available and Highly Recommended

Added on March 29, 2018

Comply 17.1 is now available for download. This version incorporates all of the earlier 17 releases and should be implemented at your earliest convenience. For the last few months the CFPB has made many updates to the 2018 FIG that affect both the data field formatting and the edits. As of this minute, we believe this new version is fully in sync with the FIG. As usual, check the changes document to see what else has changed to decide the update priority for your institution. Because much of this update has to do with 2018 FIG changes we strongly recommend that you install this version ASAP. In addition to the CFPB changes, this version has enhancements and new functionality. The biggest new feature is the introduction of our new Comply Dashboard View which allows users to create…

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View Definitions - Form, List and now Dashboard

Added on March 8, 2018

View Definitions - Form, List and now Dashboard

Since the release of Comply 17, users have had a completely new way to create custom List view and Form view definitions. In previous versions of Comply users were able to create only custom List views and that was always very helpful for looking at data different ways. When trying to figure out the best way to deal with the 2018 field changes we expanded the custom views to also include Form views. By doing this, users can easily switch between the Comply Editor (Classic) view (which is for years 2017 and prior) and the Comply Editor view (2018 and later). Users can also create their own views, such as one page views, limited field views, rearranged views, etc. With Comply 17.1 users can actually integrate field-level charts into these views as well. Click here to watch the Dashboard…

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CFPB Not Accepting Leading Zeros or Hyphens in HMDA Respondent ID

Added on January 11, 2018

It has come to our attention that the CFPB is still making changes to the 2017 HMDA submission portal. We have just heard (1/9/18) that they changed the formatting of the Respondent ID field. It is now required that all institutions remove leading zeros and the hyphen for those reporters that use their Tax ID as Respondent ID. The hyphen is still required for the Tax ID field. This represents a huge hurdle for the industry because all HMDA submission tools are designed to make that field 10 digits. This was not mentioned in the 2017 FIG and did not flag as an issue when institutions uploaded test files to the HMDA Platform. Now a recent change causes a syntactical edit, S025, when leading zeros or hyphens are present in the Respondent ID field. Your submission file will not be accepted if…

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HMDA enforcement defanged by Trump-led regulators

Added on December 28, 2017

HMDA enforcement defanged by Trump-led regulators

December 22, 2018  It's been a major issue for our industry. In fact, one of our feature stories for the December magazine, written by our Managing Editor Sarah Wheeler, details the new risks HMDA reporting represents for lenders. And earlier this year HousingWire warned lenders that if they think compliance is hard now, just wait until the new HMDA regulations kick in. Most of the 2015 updates to HMDA take effect in January 2018. However, now, both the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau — both now led by Trump-administration leaders (more, below) — announced they will not be assessing penalties on HMDA data collected in 2018 and reported in 2019. What's more, the CFPB also intends to open a rulemaking to reconsider…

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CFPB Issues Public Statement on HMDA Compliance

Added on December 28, 2017

CFPB Issues Public Statement on HMDA Compliance

December 21, 2018  HMDA, which was originally enacted in 1975, requires many lenders to report information with respect to applications they receive for certain types of mortgage loans and certain loans that they purchase. The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the Bureau to expand the data collected and reported under HMDA to include additional information regarding, for example, mortgage loan underwriting and pricing, and authorized the Bureau to require other data. To that end, the Bureau issued a rule in 2015 that requires financial institutions to collect and report additional mortgage information beginning on January 1, 2018.  In August 2017, the Bureau issued a final rule making technical corrections, clarifying certain reporting…

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Annual Geography Changes for 2018

Added on December 22, 2017

The FFIEC released the geography changes for 2018 reporting on December 21st  which incorporates changes made by the Office of Management and Budget as published on August 15, 2017. The change involves the creation of a new Metropolitan Statistical Area, 46300 - Twin Falls, ID which consists of 5 census tracts in Jerome County and 16 census tracts in Twin Falls County. This is the only geographical change for 2018 as part of the annual geography updates. This update is being released as a Demographic Data update to Comply for the 2018 reporting year and should be applied to your system before 2018 data collection begins. If you have any questions please feel free to contact us.

 

RATA Incorporating the New CFPB Geocoder

Added on November 7, 2017

The CFPB has announced in various documents that it will be developing and making available a new geocoder to help reduce the geocoding burden and theoretically standardize geocoding results. They already had the FFIEC geocoder that could have been used for this, but apparently they believe they can do better than that. They have even said that institutions who use this geocoder will receive safe harbor if their product gives the wrong result. If that is the case, institutions will definitely want to use that geocoder whenever possible. To make sure that institutions can take advantage of this safe harbor and also get the best geocoding results possible for addresses the CFPB can't hit, RATA will be incorporating the CFPB geocoder into our processes. With RATA's cloud-based geocoding…

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Comply 17.04 Update Is Now Available

Added on October 9, 2017

Comply 17.04 is now available for download. This version incorporates all of the earlier 17 releases and should be implemented for your 2017 submission. The CFPB made a few more tweaks to the 2018 Edits and we wanted to get those changes in along with a few subtle issues that were discovered at a couple of client sites. As usual, check the changes document to see what has changed to decide if you want to apply this update and the priority for your institution. You can download it from our support site to update at your convenience https://support.rataassociates.com/dl_installs.asp. Please have patience with us as the 2018 HMDA changes are implemented. We are trying to keep up with the CFPB, but they are changing and editing the specifications almost daily. Once you have updated to the…

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2016 FFIEC Peer HMDA Data Available

Added on October 2, 2017

Updated Monday, October 2, 2017. The 2016 Peer data is now available on the Peer-2-Peer website. The 2016 Peer data for DataMine will be available later today. The Peer-2-Peer product is a web-based tool designed to help you understand how your institution is lending compared to specific peers or the rest of the industry. The Peer tool can help you see Summary Lending data for any submitting institution as well as Ranking reports and Market Share reports. It is a great way to put your analysis into perspective! Check out www.hmdapeer.com or www.crapeer.com to login to the peer tool. Peer data is also available for use in the Comply DataMine tool. This allows institutions to create Excel pivot tables and custom reports with the peer data and also compare it to your current HMDA data. To…

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Hurricane Irma impact on RATA Associates' business operations

Added on September 7, 2017

The forecast track for major Hurricane Irma is showing that the eye will pass very close if not directly over the RATA facility in Longwood, FL. While our building is built to hurricane standards and we have redundant systems for power, internet connectivity may go down and be down for some time. This would affect Comply auto-updates as well as Comply registration services. During any outage, files which require geocoding can be uploaded to the RATA support website (support.rataassociates.com). This server is co-located outside of Florida and will be unaffected by the hurricane. Files will be processed and returned via the support website until any infrastructure outages are resolved at our Longwood facility. In preparation of the impact Irma may have on our facility, we will be closing…

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Comply 17 System is Complete and Ready for Download

Added on September 1, 2017

The much-anticipated Comply 17 is now complete, QA tested and ready for download. This update is mandatory for doing the 2017 submission as it contains the new CFPB HMDA.TXT format that is needed in order to upload to the CFPB submission portal. This version also contains all of the 2018 HMDA changes and new fields. When you install, the 2018 year will be available and you can start bringing in that data when ready. We have even added all of the 2018 edits that were released just 2 weeks ago. The CFPB will be making many modifications to the edits over the coming year so these will be a work in progress, but what we have is a great first start. Some of the key changes in Comply 17: Ability to create 2017 Submission in new HMDA.TXT format; this is the first year they are doing a…

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FFIEC Releases 2017 Demographic Data based on 2015 ACS

Added on July 27, 2017

RATA Associates is pleased to announce that the 2017 FFIEC demographic data that is now based on the 2015 ACS is now available for all RATA Clients. If you use Auto-Updates to keep your system data up to date, you should see the new data available the next time you log in to Comply. If you don't use Auto-Updates the data will be available on the RATA Support Site to download and import. Comply links the demographics to the geocoding in the system so once you update your system all new reports and views of the data are retroactive for the entire year. For those of you using our QuickPoint Web Service (QPWS) to geocode applications real-time in your LOS systems, you will only receive the new demographics from today forward since they are sent at the time the geocode is assigned. Again, this…

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2018 Edits Finally Released by CFPB

Added on July 14, 2017

2018 Edits Finally Released by CFPB

The initial release of the validity and quality edits for HMDA 2018 reporting have been released by the CFPB. There are a total of 105 validity and 41 quality edits in the current documentation which can be found here:
https://www.consumerfinance.gov/data-research/hmda/static/for-filers/2018/2018-HMDA-FIG.pdf

We will incorporate these edits into Comply 17 which we expect to officially release in the middle of August.

 

Agencies release list of distressed or underserved geographies

Added on June 21, 2017

Agencies release list of distressed or underserved geographies

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2017 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community development definition. Distressed nonmetropolitan middle-income geographies and underserved nonmetropolitan middle-income geographies are designated by the agencies in accordance with their CRA regulations. The criteria for designating these areas are available on the Federal Financial Institutions Examination Council (FFIEC) website (http://www.ffiec.gov/cra). The designations continue…

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Update to BISG Proxy Methodology in Comply (Based on CFPB Updates)

Added on May 10, 2017

Update to BISG Proxy Methodology in Comply (Based on CFPB Updates)

As of April 2017, the CFPB has updated their BISG methodology. There are two things that have changed and RATA will handle the changes in two phases. The first and biggest change is that they have started to use the 2010 Census name table whereas up until now it was the 2000 Census name table (see details of counts below). This change increased the number of surnames in the table by about 10% and in running tests it seemed to reduce the Surname Not Found rate by about 10%, so it is a pretty significant improvement. The new name table has been created and tested for Comply and will be released via Auto-Updates today. For clients not using Auto-Updates for system data the file will also be available on the support site. The second update to the BISG process is much less significant but will…

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2018 HMDA Changes - What's the Word?

Added on May 8, 2017

2018 HMDA Changes - What's the Word?

Comply 2018 HMDA Changes, Progress and Schedule The implementation of the CFPB 2018 HMDA changes is now about a year and a half away. The new changes will more than double the number of reportable HMDA data fields that institutions must collect, edit and submit. In analyzing the new fields that were added to the HMDA requirement, we have identified 14 fields that presently exist within RATA Comply HMDA/CRA and 39 fields that will need to be created. The new fields to be added are for automated underwriting, expanded race and ethnicity as well as general loan and property data points. New Format The submission format for the 2016 data will be unchanged from the last few years. The 2017 submissions will contain the exact same data but they will be wanting to receive it in the new…

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RATA's Customer Care Campaign

Added on April 19, 2017

RATA's Customer Care Campaign

The RATA Comply Suite is currently the most robust compliance product on the market. Over the last few years we have been adding extensive amounts of functionality to help institutions streamline their processes. As part of our ongoing efforts to improve your RATA Comply experience with the products and services we provide, we have launched the RATA Customer Care Review campaign to make sure you are aware of the functionality you have and that you are using it to its full extent. By appointment we would like to have a web meeting with your entire team to discuss: Your current processes Review the Comply components that you currently have Discuss any issues or challenges you are having related to HMDA/CRA, Fair Lending or Peer Analysis Discuss any questions you have regarding the 2018…

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We are proposing changes to Regulation C to help industry comply and are looking for your feedback

Added on April 13, 2017

We are proposing changes to Regulation C to help industry comply and are looking for your feedback

Today we released a proposal to amend Regulation C to provide certain clarifications that would help companies comply with their data reporting requirements.   Regulation C implements the Home Mortgage Disclosure Act (HMDA). The Home Mortgage Disclosure Act (HMDA) requires many financial institutions to maintain, report, and publicly disclose information about mortgages. HMDA was originally enacted by Congress in 1975. These public data are important because they help show whether lenders are serving the housing needs of their communities; they give public officials information that helps them make decisions and policies; and they shed light on lending patterns that could be discriminatory.  In October 2015, the Bureau issued the 2015 HMDA Final Rule, after a multi-year policy…

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CFPB Issues Proposal to Clarify Mortgage Data Rule

Added on April 13, 2017

CFPB Issues Proposal to Clarify Mortgage Data Rule

Proposal Would Clarify Requirements and Help Companies Comply WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a proposal to facilitate compliance with the 2015 updates to the Home Mortgage Disclosure Act (HMDA) rule. The changes proposed today would help financial institutions comply with the 2015 HMDA Final Rule by clarifying the information they are required to collect and report about their mortgage lending. "The Home Mortgage Disclosure Act shines a much-needed spotlight on the mortgage market, which is the largest consumer financial market in the world," said CFPB Director Richard Cordray. "Today's proposal reflects the Bureau's ongoing and substantive engagement with stakeholders in the marketplace, and will help industry meet its new reporting…

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2018 HMDA Changes with Video and Beta Version Available (Updated)

Added on April 12, 2017

2018 HMDA Changes with Video and Beta Version Available (Updated)

As promised, we are releasing a special beta version of Comply 17, so that institutions can get a handle on where RATA is at with the changes and begin testing imports with the new data elements, if they are at that point. For those of you that just need to make sure RATA is on top of the changes, we have included a video that illustrates the new fields and imports to show you that it is implemented and works great. We have gone from 40 fields to 110 submittable fields so data collection will be a fun process. For those of you not familiar with the field changes and values, please download the 2018 File Specifications at https://www.consumerfinance.gov/data-research/hmda/static/for-filers/2018/2018-HMDA-FIG.pdf. The government has still not released the 2018 Edit Checks so really all…

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CFPB Issues Proposal to Provide Flexibility to Certain Mortgage Lenders in Collecting Information

Added on March 24, 2017

CFPB Issues Proposal to Provide Flexibility to Certain Mortgage Lenders in Collecting Information

Proposed Rule Would Also Aid in Adoption of New Forms WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a proposal to amend Equal Credit Opportunity Act regulations to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information. The CFPB believes the proposed amendments will provide greater clarity to lenders regarding their obligations under the law, while promoting compliance with rules intended to ensure consumers are treated fairly. "This law is a key part of the government's commitment to root out discrimination," said CFPB Director Richard Cordray. "This proposal will help industry comply with the law and help protect consumers against illegal discrimination."   The Equal Credit…

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CFPB takes action against Nationstar Mortgage for flawed mortgage loan reporting

Added on March 15, 2017

CFPB takes action against Nationstar Mortgage for flawed mortgage loan reporting

Bureau's $1.75 Million Civil Penalty for Persistent and Substantial Reporting Errors is the CFPB's Largest Penalty to Date for HMDA Violations  WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today ordered Nationstar Mortgage LLC to pay a $1.75 million civil penalty for violating the Home Mortgage Disclosure Act (HMDA) by consistently failing to report accurate data about mortgage transactions for 2012 through 2014. Today's action is the largest HMDA civil penalty imposed by the Bureau to date, which stems from Nationstar's market size, the substantial magnitude of its errors, and its history of previous violations. In fact, Nationstar had been on notice since 2011 of HMDA compliance problems. In addition to paying the civil penalty, Nationstar must take the…

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Comply 16.11 Release is now Available

Added on February 17, 2017

Comply 16.11 Release is now Available

We are pleased to announce the availability of Comply 16.11. Both the full and update versions of the installation are available on the RATA Support site. This is not a critical update and it does not require an immediate update. It does however have a lot of new features, functionality and fixes that could be helpful to the end users. We will be posting a changes document that will give you full details as to what has changed so you can decide the timeframe for updating. If you have any questions or need assistance, please contact us at 407-831-7282. Here is a list of some of the major improvements to this version: Changes to the way Geographic Areas are stored. Areas can now be stored for multi years. Many Datamine enhancements. Added Small Business and Farm Demographics to make PE…

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Comply 16.1 Release

Added on February 9, 2017

Comply 16.1 Release

We are finalizing and QA testing our Comply 16.1 release and should have it ready by February 17th.We have made many improvements to DataMine and Audit that we had wanted to add from the beginning, but simply didn't have time to get into version 16. We have also made changes to the way we store Geographic Areas and Peer groups to better deal with multiple years in preparation for multi-year analysis in the future. In addition, we are adding new Business and Farm demographics to help with evaluating Performance Evaluation data. The RATA Business and Farm census data will now help institutions look at their business and farm lending and compare their it to the percentages of all businesses in their areas broken down by low/mod/middle/upper income areas. This data is not based on D&B…

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Update on Changes for 2018

Added on February 9, 2017

Update on Changes for 2018

It's been a little while since we posted an update on our progress regarding the 2018 changes. There hasn't been a lot of additional information released by the CFPB regarding those changes in the last 6 months. We were hoping that they would have released the edit check specifications by now, but that hasn't happened as far as we know. Since our last update, we have had many internal meetings about various ways to deal with the pending changes. We have come up with what we believe is an even better way to deal with the new data in Comply but it will take a little longer to implement. We feel the benefits outweigh a slight delay in release, and we just wanted to keep you up to date. The new release date for the import testing version of Comply 17 is now scheduled for April 2, 2017. One of…

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RATA End of Year - Geocode ReDo file - Please apply before submitting

Added on January 30, 2017

RATA End of Year - Geocode ReDo file - Please apply before submitting

Thank you as always for using the RATA Comply software and Geocoding services to help with your HMDA and/or CRA submissions. As part of our efforts to ensure that you have the highest quality and most current geocode results for submission, we re-geocode every application that was submitted prior to January 15th to try and improve the precision codes. We then go through the file to look for improvements to any geocodes based on the precision codes and then return any improved results in the End Of Year (EOY) geocode update file. This file should be applied to your Comply system at your earliest convenience to assure that these improved results are a part of your submission to the FFIEC. The EOY update file will only affect records submitted before January 15, 2017 so if you have submitted…

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Agencies release annual CRA asset-size threshold adjustments for small and intermediate small institutions

Added on December 29, 2016

The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification. Those meeting the small and intermediate small institution asset-size thresholds are not subject to the reporting requirements applicable to large banks and savings associations unless they choose to be evaluated as a large institution. Annual adjustments to these asset-size thresholds are based on the change in the average of the…

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RATA to add Business and Farm Census Data to Comply

Added on December 13, 2016

RATA to add Business and Farm Census Data to Comply

As part of the upcoming 16.1 Comply release, RATA will be adding the Business and Farm data based on a census of businesses. Up to this point RATA has been using the CRA Aggregate peer business data for performance measures in our CRA Performance Evaluation reports. Many institutions have requested that we use the Business/Farm census data and we have decided to move forward with the latest data we could obtain. All reports that use this data will be offered in both the current aggregate versions and the census of businesses versions to increase your analysis options. This will be available to all customers licensed for Comply CRA at no additional charge. By adding this new data and functionality to the 16.1 release we have had to push the delivery dates of both 16.1 and the 17 beta…

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Comply DataMine Report Builder

Added on November 11, 2016

Comply DataMine Report Builder

The Comply DataMine analysis tool is RATA's new advanced custom report builder. RATA clients will now have the ability to build both custom pivot tables and custom executive reports using the power of Microsoft Excel, SQL Server Analysis Services (SSAS) and your Comply Database. With this powerful configuration you are able to create reports using combinations of your latest HMDA and CRA data, peer data, demographic data, deposit data and more. This new optional component is available for use with the 2015 HMDA and CRA peer data and will give customers much more flexibility for analyzing their own data compared to peer data by year, geography and additional filters. Regulators have been recently creating peer groups by asset size, rate spread percentages and geography. The new Peer Group…

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2017 Submission format and 2018 Universal Loan ID (ULI) information

Added on November 8, 2016

2017 Submission format and 2018 Universal Loan ID (ULI) information

As part of the upcoming HMDA changes, we are getting a lot of inquiries on two topics in particular. 1) Handling of the HMDA 2017 data submission in February 2018. There are no data changes to the HMDA 2017 data being submitted in February 2018. The only change to the HMDA 2017 submission is that the submission file itself will go from the current fixed-length record format to a pipe "|" delimited format. This change will be available in version 17 of the Comply software, to be released in 2017. 2) In regards to the Universal Loan Identifier (ULI), RATA Comply will be able to accept loans for 2018 either with or without ULI. As part of the Reporting Entity (RE) properties in Comply there will be a field for the Legal Entity ID (LEI). During the import process all loans that are not Action…

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CFPB Warns Financial Institutions About Potential Mortgage Lending Reporting Failures

Added on October 27, 2016

CFPB Puts 44 Mortgage Lenders and Brokers on Notice That They May Be Required to Report Mortgage Data WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is issuing warning letters to 44 mortgage lenders and mortgage brokers. The Bureau has information that appears to show they may be required to collect, record, and report data about their housing-related lending activity, and that they may be in violation of those requirements. "Financial institutions that fail to report mortgage information as required make it harder to identify and address discriminatory lending," said CFPB Director Richard Cordray. "No mortgage lender that is required to report their loan data can avoid this responsibility." The Home Mortgage Disclosure Act, which was originally enacted in…

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Comply 16 Is Now Available On RATA Support Site

Added on October 11, 2016

Comply 16 Is Now Available On RATA Support Site

We are pleased to announce the availability of Comply 2016. Both the full and update versions of the installation are available on the RATA Support site. We strongly recommend that you update as it contains the 2016 edit changes as well as numerous enhancements, fixes and the new optional Datamine and Audit tools. The Version 16.0 Changes document is available in the Resources section of the Comply Start page and includes highlights of the major changes. If you have any questions or need assistance, please contact us at 407-831-7282.

 

FDIC Releases Updated Summary of Deposits Annual Survey

Added on September 30, 2016

The Federal Deposit Insurance Corporation (FDIC) Friday released the survey of branch office deposits as of June 30, 2016, for all FDIC-insured institutions. The Summary of Deposits (SOD) annually provides deposit totals for each of the more than 91,000 domestic offices operated by more than 6,000 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks. Users can locate offices in a particular geographic area and create custom market share reports for a geographic area such as state, county, and metropolitan area.The FDIC has expanded the market share reports to allow users to see market growth and market presence for specific institutions. Data dating back to 1994 can be downloaded for analysis. To receive annual updates of the SOD, go to the…

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Federal Financial Institutions Examination Council Announces Availability of 2015 Data on Mortgage Lending

Added on September 29, 2016

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 6,913 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data made available today cover 2015 lending activity and include: applications, originations, purchases and sales of loans, denials, and other actions related to applications loan amount loan type (conventional, Federal Housing Administration (FHA), Veterans Administration (VA), Rural Housing Service (RHS) or Farm Service Agency (FSA)) purpose (home purchase, home improvement, or refinancing) property type (1-4 family, multifamily, or manufactured housing) owner…

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Comply 365 Newsletter: Edition #2

Added on August 31, 2016

Comply 365 Newsletter: Edition #2

The new edition of the "Comply 365" newsletter has been released to give you the latest news on what's happening at RATA Associates.

Click here for the latest edition and articles...

 

RATA's New Customer Care Review Campaign

Added on August 19, 2016

RATA's New Customer Care Review Campaign

The RATA Comply Suite is currently the most robust compliance product on the market.Over the last few years we have been adding extensive amounts of functionality to help institutions streamline their processes. As part of our ongoing efforts to improve your RATA Comply experience with the products and services we provide, we are launching a Customer Care Review campaign to make sure you are aware of the functionality you have and that you are using it to its full extent.  By appointment we would like to have a web meeting with your entire team to discuss: Your current processes Review the Comply components that you currently have Discuss any issues or challenges you are having related to HMDA/CRA, Fair Lending or Peer Analysis Discuss any questions you have regarding the 2018 HMDA…

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Federal Financial Institutions Regulatory Agencies Announce Availability of 2015 Small Business, Small Farm, and Community Development Lending Data

Added on August 18, 2016

he three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities — the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency — announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. An FFIEC disclosure statement on the reported 2015 CRA data, in electronic form, is available for each reporting commercial bank and savings association. The FFIEC also has prepared aggregate disclosure statements of small business and small farm lending for all of the metropolitan…

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Agencies release final revisions to interagency questions and answers regarding community reinvestment

Added on July 15, 2016

The federal bank regulatory agencies with responsibility for Community Reinvestment Act (CRA) rulemaking today published final revisions to "Interagency Questions and Answers Regarding Community Reinvestment". The Questions and Answers document provides additional guidance to financial institutions and the public on the agencies' CRA regulations. The new and revised guidance addresses questions raised by bankers, community organizations, and others regarding the agencies' CRA regulations in the following areas: Availability and effectiveness of retail banking services. Innovative or flexible lending practices. Community development-related issues, including: (i) economic development; (ii) community development loans and activities that revitalize or stabilize underserved nonmetropolitan…

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Agencies release list of distressed or underserved nonmetropolitan middle-income geographies

Added on June 17, 2016

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation today announced the availability of the 2016 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration as community development. Distressed nonmetropolitan middle-income geographies and underserved nonmetropolitan middle-income geographies are designated by the agencies in accordance with their CRA regulations. The criteria for designating these areas are available on the Federal Financial Institutions Examination Council (FFIEC) website (http://www.ffiec.gov/cra). The designations continue to reflect local…

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New quarterly newsletter: Comply 365

Added on April 4, 2016

New quarterly newsletter: Comply 365

We have started a quarterly newsletter called "Comply 365" to give you the latest news on what's happening at RATA Associates. 

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Federal Reserve Board issues repeal of Regulation AA and requests comment on proposal to repeal Regulation C

Added on February 11, 2016

The Federal Reserve Board on Thursday announced the repeal of one regulation and a proposal to repeal a second in order to comply with statutory provisions that transferred certain consumer protection rulewriting authority to the Consumer Financial Protection Bureau (CFPB). The Board repealed its Regulation AA (Unfair or Deceptive Acts or Practices) as proposed in August 2014 and is inviting public comment on the proposed repeal of Regulation C (Home Mortgage Disclosure). The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) repealed the Board's authority to write rules that address unfair or deceptive acts or practices, which were contained in Regulation AA. Regulation AA included the Board's "credit practices rule," which prohibited banks from using certain…

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2018 CFPB HMDA Implementation Updates

Added on February 3, 2016

2018 CFPB HMDA Implementation Updates

UPDATE: 02/02/2016 The official 2018 HMDA changes document was finalized in October 2015. That document had many of the ideas that were finalized but it did not contain the technical details that we need as a software provider to implement the changes. Without the "official" enumerations for all of the new fields, and more specifically on the re-used but updated fields, it is hard for us to complete specifications for our programmers.We are currently in communication with the CFPB and are trying to get clarifications on the questions we have. Once we have these answers we are planning to implement them into Comply for the 2018 reporting years and forward. The Application screens will stay the same for all years prior to 2018 then 2018 will display the new fields and the new…

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Bank Regulatory Agencies and CDFI Fund to Sponsor National Interagency Community Reinvestment Conference

Added on January 6, 2016

The federal bank regulatory agencies, the Federal Reserve Bank of San Francisco, and the Community Development Financial Institutions Fund will host the 2016 National Interagency Community Reinvestment Conference in Los Angeles from February 8 to 10. This biennial conference offers participants from around the country the opportunity to learn about the Community Reinvestment Act (CRA) and to discuss best practices and emerging challenges in community development. The conference agenda includes keynote presentations by Thomas J. Curry, Comptroller of the Currency; Martin J. Gruenberg, Chairman of the Federal Deposit Insurance Corporation; Amias Gerety, Acting Assistant Secretary for Financial Institutions of the U.S. Department of Treasury; John C. Williams, President of the Federal…

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Bank Regulatory Agencies and CDFI Fund to Sponsor National Interagency Community Reinvestment Conference

Added on January 6, 2016

The federal bank regulatory agencies, the Federal Reserve Bank of San Francisco, and the Community Development Financial Institutions Fund will host the 2016 National Interagency Community Reinvestment Conference in Los Angeles from February 8 to 10. This biennial conference offers participants from around the country the opportunity to learn about the Community Reinvestment Act (CRA) and to discuss best practices and emerging challenges in community development. The conference agenda includes keynote presentations by Thomas J. Curry, Comptroller of the Currency; Martin J. Gruenberg, Chairman of the Federal Deposit Insurance Corporation; Amias Gerety, Acting Assistant Secretary for Financial Institutions of the U.S. Department of Treasury; John C. Williams, President of the Federal…

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Agencies release annual CRA asset-size threshold adjustments for small and intermediate small institutions

Added on December 22, 2015

The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules.  Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification.  Those meeting the small and intermediate small institution asset-size thresholds are not subject to the reporting requirements applicable to large banks and savings associations. Annual adjustments to these asset-size thresholds are based on the change in the average of the Consumer Price Index for Urban Wage Earners and…

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CFPB Announces Two Annual Threshold Adjustments

Added on December 18, 2015

HMDA Asset-Size Exemption Threshold Unchanged at $44 Million; Higher-Priced Mortgage Loan Escrow Account Exemption Threshold Declines to $2.052 Billion WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued two final rules regarding annual threshold adjustments under the implementing regulations for the Home Mortgage Disclosure Act and the Truth in Lending Act. Home Mortgage Disclosure Act The CFPB issued a final rule regarding the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). HMDA requires that the CFPB adjust this threshold yearly by the annual percentage change in the average of Consumer Price Index for Urban Wage Earners and Clerical Workers…

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Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans

Added on November 25, 2015

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB), Federal Reserve Board, and Office of the Comptroller of the Currency (OCC) today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2016 will remain $25,500. The threshold amount will be effective January 1, 2016, and is the same threshold that applied in 2015–based on the annual percentage decrease in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as of June 1, 2015. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 amended the Truth in Lending Act to add special appraisal requirements for higher-priced mortgage loans, including a requirement that creditors obtain a written appraisal…

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CFPB's new rule will shine light on mortgage market practices

Added on October 15, 2015

CFPB's new rule will shine light on mortgage market practices

Today the Consumer Financial Protection Bureau is updating the Home Mortgage Disclosure Act (HMDA) requirements with a new rule that will shine more light on lending practices in America's largest consumer financial market, the mortgage market. HMDA is a statute that provides the public and policymakers with information about the mortgage market and ensures market transparency. HMDA requires many financial institutions to collect, report, and disclose information about their mortgage activity. The original law was enacted by Congress 40 years ago to respond to concerns that some banks may be failing to serve their communities. Everyone in America deserves a fair shot at accessing the American Dream. The Home Mortgage Disclosure Act: Helps to show whether lenders are serving the housing…

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CFPB Takes Action Against Fifth Third Bank for Auto-Lending Discrimination and Illegal Credit Card Practices

Added on September 28, 2015

CFPB Takes Action Against Fifth Third Bank for Auto-Lending Discrimination and Illegal Credit Card Practices

Company to Pay $18 Million to Minority Auto Borrowers, $3 Million to Credit Card Customers

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank, for discriminatory auto loan pricing and for illegal credit card practices. The joint CFPB and Department of Justice (DOJ) auto-lending enforcement action requires Fifth Third to change its pricing and compensation system to minimize the risks of discrimination, and to pay $18 million to harmed African-American and Hispanic borrowers. The CFPB's action against Fifth Third's deceptive marketing of credit card add-on products requires the bank to provide an estimated $3 million in relief to eligible harmed consumers and pay a $500,000 penalty.

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Justice Department and Consumer Financial Protection Bureau Reach Settlement with Hudson City Savings Bank to Resolve Allegations of Mortgage Lending

Added on September 25, 2015

Justice Department and Consumer Financial Protection Bureau Reach Settlement with Hudson City Savings Bank to Resolve Allegations of Mortgage Lending

Settlement Provides Over $27 Million to Ensure Equal Lending Services to Predominantly Black and Hispanic Communities

The Justice Department and Consumer Financial Protection Bureau (CFPB) filed a consent order today to resolve allegations that Hudson City Savings Bank (Hudson City) engaged in a pattern or practice of "redlining" predominantly Black and Hispanic neighborhoods in its residential mortgage lending practices. "Redlining" is the discriminatory practice by banks or other financial institutions to deny or avoid providing credit services to a consumer because of the racial demographics of the neighborhood in which the consumer lives. This resolution represents the Justice Department's largest residential mortgage redlining settlement in its history.

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HMDA data shows more people took out a mortgage to purchase a home in 2014 than 2013

Added on September 22, 2015

HMDA data shows more people took out a mortgage to purchase a home in 2014 than 2013

Today, the Federal Financial Institutions Examination Council (FFIEC) published the 2014 Home Mortgage Disclosure Act (HMDA) data showing that more people took out a mortgage to purchase a home in 2014 than in 2013 and that fewer people refinanced their mortgages. As part of our work to educate consumers to make informed financial decisions, we at the Consumer Financial Protection Bureau (CFPB) – along with the other members of the FFIEC – are committed to making HMDA data clear and available to you. The Home Mortgage Disclosure Act helps protect consumers by providing public data about the mortgage market. Consumers, public officials, community groups, researchers, developers, journalists, and mortgage professionals can use these data to better understand mortgage trends at a…

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Federal Financial Institutions Examination Council Announces Availability of 2014 Data on Mortgage Lending

Added on September 22, 2015

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 7,062 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data made available today cover 2014 lending activity, and include applications, originations, purchases and sales of loans, denials, and other actions related to applications. The data released today also include disclosure statements for each financial institution, aggregate data for each metropolitan statistical area (MSA), nationwide summary statistics on lending patterns, and Loan/Application Registers (LARs) for each financial institution (LARs are modified…

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Federal Financial Institutions Regulatory Agencies Announce Availability of 2014 Small Business, Small Farm, and Community Development Lending Data

Added on August 25, 2015

The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities—the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency—announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. An FFIEC disclosure statement on the reported 2014 CRA data, in electronic form, is available for each reporting commercial bank and savings association. The FFIEC also has prepared aggregate disclosure statements of small business and small farm lending for all of the metropolitan…

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Agencies release list of distressed or underserved nonmetropolitan middle-income geographies

Added on July 8, 2015

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation today announced the availability of the 2015 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities will receive Community Reinvestment Act (CRA) consideration as community development. Distressed nonmetropolitan middle-income geographies and underserved nonmetropolitan middle-income geographies are designated by the agencies in accordance with their CRA regulations.  The criteria for designating these areas are available on the Federal Financial Institutions Examination Council (FFIEC) website (http://www.ffiec.gov/cra).  The designations continue to reflect local…

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CFPB Orders RPM Mortgage to Pay $19 Million for Steering Consumers Into Costlier Mortgages

Added on June 4, 2015

CFPB Orders RPM Mortgage to Pay $19 Million for Steering Consumers Into Costlier Mortgages

RPM CEO Erwin Robert Hirt to Pay Additional $1 Million Civil Penalty

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) filed a complaint in federal district court against RPM Mortgage, Inc. and its CEO, Erwin Robert Hirt, for illegally paying bonuses and higher commissions to loan originators to incentivize them to steer consumers into costlier mortgages. The CFPB also filed a proposed order that, if entered by the court, would require RPM to pay $18 million in redress to consumers and a $1 million civil penalty, and would require Hirt to pay an additional $1 million civil penalty.

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Justice Department and CFPB Reach Settlement with Provident Funding Associates to Resolve Allegations of Mortgage Lending Discrimination

Added on May 28, 2015

Justice Department and CFPB Reach Settlement with Provident Funding Associates to Resolve Allegations of Mortgage Lending Discrimination

Settlement Provides $9 Million in Compensation to African-American and Hispanic Borrowers

The Justice Department and Consumer Financial Protection Bureau (Bureau) filed a consent order today to resolve allegations that Provident Funding Associates (Provident) engaged in a pattern or practice of discrimination that increased loan prices for African-American and Hispanic borrowers who obtained residential mortgages between 2006 and 2011 from Provident's nationwide network of mortgage brokers.

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U.S. Justice Department and North Carolina Attorney General Reach Settlement to Resolve Allegations of Auto Lending Discrimination

Added on February 10, 2015

U.S. Justice Department and North Carolina Attorney General Reach Settlement to Resolve Allegations of Auto Lending Discrimination

Settlement Requires Substantial Improvements to Dealerships' Policies and Provides $225,000 in Relief to Affected Customers

The U.S. Department of Justice Civil Rights Division, the U.S. Attorney's Office for the Western District of North Carolina and the North Carolina Department of Justice today announced a settlement of the federal government's first-ever discrimination lawsuit involving "buy here, pay here" auto lending.  The settlement, which is subject to court approval, was filed today in the U.S. District Court for the Western District of North Carolina.

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CFPB Issues Proposal To Facilitate Access To Credit In Rural And Underserved Areas

Added on January 29, 2015

CFPB Issues Proposal To Facilitate Access To Credit In Rural And Underserved Areas

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed several changes to its mortgage rules to facilitate responsible lending by small creditors, particularly in rural and underserved areas. If finalized, the proposal issued today would increase the number of financial institutions able to offer certain types of mortgages in rural and underserved areas, and help small creditors adjust their business practices to comply with the new rules. "Responsible lending by community banks and credit unions did not cause the financial crisis, and our mortgage rules reflect the fact that small institutions play a vital role in many communities," said CFPB Director Richard Cordray. "Today's proposal will help consumers in rural or underserved areas access the mortgage…

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Justice Department Reaches Settlement Agreement With First United Bank Over Allegations of Discrimination on the Basis of National Origin

Added on January 15, 2015

Justice Department Reaches Settlement Agreement With First United Bank Over Allegations of Discrimination on the Basis of National Origin

The Justice Department announced today that First United Bank, of Dimmitt, Texas, will maintain uniform pricing policies, conduct employee training and pay $140,000 as part of a settlement to resolve allegations that it engaged in a pattern or practice of discrimination on the basis of national origin.

The settlement, which is subject to court approval, was filed in conjunction with the Justice Department's complaint in the U.S. District Court for the Northern District of Texas.  The complaint alleges that First United Bank charged higher prices on unsecured consumer loans made to Hispanic borrowers in violation of the Equal Credit Opportunity Act (ECOA).

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CFPB Takes Action Against Franklin Loan Corporation for Steering Consumers into Costlier Mortgages

Added on November 13, 2014

CFPB Takes Action Against Franklin Loan Corporation for Steering Consumers into Costlier Mortgages

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) ordered a California mortgage lender, Franklin Loan Corporation, to pay $730,000 for giving its employees illegal bonuses for steering consumers into loans with higher interest rates. The Bureau has asked a federal district court to approve a consent order requiring the company to end its illegal compensation system and refund the consumers it harmed.

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CFPB and DOJ Take Action Against National City Bank for Discriminatory Mortgage Pricing

Added on December 23, 2013

CFPB and DOJ Take Action Against National City Bank for Discriminatory Mortgage Pricing

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) filed a joint complaint against National City Bank for charging higher prices on mortgage loans to African-American and Hispanic borrowers than similarly creditworthy white borrowers between the years 2002 and 2008. The agencies also filed a proposed order to settle the complaint that requires National City Bank, through its successor PNC Bank, to pay $35 million in restitution to harmed African-American and Hispanic borrowers.

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Justice Department and Consumer Financial Protection Bureau Reach $98 Million Settlement to Resolve Allegations of Auto Lending Discrimination by Ally

Added on December 20, 2013

Settlement Is Department's Third Largest Fair Lending Agreement Ever and Largest Ever Auto Lending Agreement The Department of Justice and the Consumer Financial Protection Bureau (CFPB) today announced the federal government's largest auto loan discrimination settlement in history to resolve allegations that Detroit-based Ally Financial Inc. and Ally Bank have engaged in an ongoing nationwide pattern or practice of discrimination against African-American, Hispanic and Asian/Pacific Islander borrowers in their auto lending since April 1, 2011.  The agreement is the first joint fair lending enforcement action by the department and CFPB.  With this agreement, eight of the top 10 largest fair lending settlements in the department's history have been under Attorney General Eric…

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Justice Department Reaches Settlement with Fort Davis State Bank to Resolve Allegations of Lending Discrimination

Added on December 19, 2013

Justice Department Reaches Settlement with Fort Davis State Bank to Resolve Allegations of Lending Discrimination

The Justice Department announced today that Fort Davis State Bank, based in Fort Davis, Texas, will implement uniform pricing policies, conduct employee training and pay $159,000 as part of a settlement to resolve allegations that it engaged in a pattern or practice of discrimination on the basis of national origin. The settlement, which is subject to court approval, was filed in conjunction with the department's complaint in the U.S. District Court for the Western District of Texas.  The complaint alleges that Fort Davis State Bank violated the Equal Credit Opportunity Act (ECOA) by charging higher prices for unsecured consumer loans to Hispanic borrowers than to similarly qualified non-Hispanic borrowers.  Fort Davis State Bank is a community bank with three branches that for…

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Special Report: Geocoding - Achieving the Highest Accuracy

Added on December 13, 2013

Special Report: Geocoding - Achieving the Highest Accuracy

Although geocoding is only one part of the examination accuracy testing, it is substantially different from the other submittable data that is tested. The geocode is probably the most important data element because of its demographic impact. There is no such thing as 100% accuracy for geocodes on a complete LAR due to the complexities and subtleties of the subject, but there is at least one proven solution that can achieve greater than 98% accuracy. This document contains statistical and anecdotal evidence describing how to achieve the highest precision level possible to help avoid a time-consuming resubmission process or a costly penalty.

Download Geocoding Report

 

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Added on January 1, 2010

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