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2020 HMDA Peer Data Official Release is Available

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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 official data. Specifically, 1 institution was removed from the official data (Trust Mortgage Lending Corporation) and 13 new institutions were added (Democracy Federal Credit Union, Residential Acceptance Corporation, General Mortgage Capital Corporation, Rain City Capital, LLC, CrossFirst Bank, Cal Mutual Inc., Welcome Home Finance, LP, The Milford Bank, Central Coast Lending, Inc., Callisto Group, Inc. Dba Metro Lending Services, VegaCoop, Aurora Financial And South Texas Federal Credit Union).

To download the data for use in Comply, simply go to the support.rataassociates.com site and download the 2020 HMDA Peer Data file, then import the data into Comply using the Import System Data button 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 Guide under the Resources section of the Start page. Once the data is imported, you have two ways to use it depending on what you are licensed for in Comply. If you are licensed for Peer Data, then you have full use of the Peer Reports and Analysis in Comply. This is now located on the Reports tab.

Once imported, that same data can also be used in DataMine. Before going into DataMine be sure to do a full Sync of the data to populate the SSAS Data Cube with the new data. If you don't sync, you won't see this data in DataMine.

The Peer Training Videos and Peer User Guide should answer most or all of your questions, but if you need assistance, feel free to call us for support at 407-831-7282.

For RATA Hosted Service (RHS)

RATA will be updating the peer data tonight 6/28/2021 after hours so that we don't affect any clients during the day.  So you will have updated peer data to use tomorrow 6/29/2021.

 

04/07/2021
RATA Releases NON-OFFICIAL 2020 HMDA Peer Data

As stated in the previous article (below), we have devised a way to pull the individual 2020 Modified LAR data from the CFPB, combine it, reformat it and merge 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.

Important:
There was a major increase in the HMDA volume this year and there are now 25 million applications and the data and will be over 15G added to your Comply database. On our servers it took about an hour and a half to load this data. Based on the facts that it is not "official" and it is huge you may want to wait until June to do your analysis. In the end it is up to you and your institution how important it is to do preliminary peer analysis early.

The data is located on the RATA Support Site. Feel free to call if you have any questions or comments regarding this data. 

 

04/01/2021
CFPB Releases Individual Modified LAR DATA - RATA to Release Non-Official Peer Data Next Week

The CFPB has released the Modified Loan/Application Register (LAR) data for 2020 of all HMDA reporters. This is NOT the Dynamic National Loan-Level Dataset that is used to create the official peer data. Every time they release this data we get a flurry of calls about the peer data and when will it be available.

This year, for a variety of reasons, we have decided to release a non-official version of the data. We will use the Modified LAR Data on a temporary basis until the official national dataset is released later this year (typically in June). We are hoping to have this data available by April 7th or earlier if possible. Again, keep in mind this is not official peer data, but some institutions may want to run preliminary analysis.

Here is a brief summary of what we have to do in order to format this temporary data:

  • The Modified LAR Data that was just released is on a by-institution basis, meaning the data must be downloaded individually for all 4400+ institutions, since there is no option to download them all at once.
  • Once all of the data is downloaded it must be combined into a national data set, then put into the same format as the official national dataset released later in the year, in order for us to load it into our systems.
  • One of the biggest problems is that there is no transmittal information for the Modified LAR Data, but we were able to scrape the data and extract a file with Bank names and LEI numbers. Then we need to copy the transmittal data from 2019 forward and match all of the LEIs that are in the new data. This will also remove the entities that submitted last year and are now exempt or no longer HMDA reporters.
  • Our preliminary analysis has revealed that there are 124 new submitters this year and for them, we will only have a name and LEI as transmittal properties until the official data is released. Institutions using the 50-200% of origination volume method to pick peers shouldn't have a problem with this.
  • After the data is completely reformatted and the transmittal information has been matched, we can run it through our standard peer conversion process to make it compatible with Comply.
  • The last step is a full quality assurance process to ensure the integrity of the data.

We are working hard to do all of these steps but it is a complex process and in the end, the data may be dramatically different when the CFPB cleans up and formats the data for the June release. But for those of you that are eager to get an early look at the data, we felt that doing all of this was important.

We would have done this in prior years as well, but it was impossible to match the transmittal records to the LAR records in previous years because the change from Respondent ID to LEI made it impossible to match the records. This is the second year LEIs are used so we can actually do that match. It isn't perfect because of the new submitters, but it is better than nothing. When the official data does come out in June we will convert that data and release the Official data. At that point you will need to re-download the data and re-import. Some of you may only want to use the real data, so if that is the case you will need to wait until the Dynamic National Loan-Level Dataset is released.

 

 

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