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RATA Releases NON-OFFICIAL 2021 HMDA Peer Data

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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 database. On our servers it took about an hour and a half to load this data. Based on the fact that it is not "official" and it is very large, you may want to wait until the official data is released in 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.

Feel free to contact us if you have any questions or comments.


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

March 24, 2022

This year, as with last year, 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 the end of next week 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 tasks to overcome is the lack of transmittal information for the Modified LAR Data. To obtain that information we scrape the data and extract a file with Bank names and LEI numbers. Then we need to copy the transmittal data from 2020 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.
  • 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 get through 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.

 

 

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