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…
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…
Added on October 28, 2020
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,…
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…
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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