Added on August 1, 2022
The CFPB released specifications on GitHub in October 2020 regarding changes to the derived categorization of Race, Ethnicity and Sex groupings for reporting years 2018 and up. We made a minor change to address this in the Comply version 21.1 release which affects a small percentage of data for a very specific situation. This update corrects situations where previously, if someone classified themselves as 2-Asian and 24-Japanese, we would calculate that as 2 or more minority races. The new calculation would classify this as 2-Asian. The same goes for ethnicity sub-categories. Also, if someone classifies themselves as both male and female, the sex would be calculated as Joint. We have now updated the HMDA peer data for use in Peer2Peer to use the same calculations. This data is now…
Added on July 27, 2022
Settlement is the first government resolution involving illegal discrimination by a nonbank mortgage lender Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) took action to end Trident Mortgage Company's intentional discrimination against families living in majority-minority neighborhoods in the greater Philadelphia area. The CFPB and DOJ allege Trident redlined majority-minority neighborhoods through its marketing, sales, and hiring actions. Specifically, Trident's actions discouraged prospective applicants from applying for mortgage and refinance loans in the greater Philadelphia area's majority-minority neighborhoods. If entered by the court, the settlement, among other things, would require Trident to pay a $4 million…
Added on July 15, 2022
Over the next few months RATA will offer a number of free webinars to existing clients to better illustrate the power and flexibility of the Comply Suite of compliance tools. Over the years the Comply software has evolved and become even more powerful. New components and functionality have been added with each new version released and sometimes it is hard for customers to appreciate and utilize the full potential of the software. During routine support calls we have noticed that the majority of clients are doing things in ways that are not taking advantage of key features and functionality of the latest software. For these reasons, we felt it would be in the best interest for all parties involved to go through the key functions of Comply, walk through the basics…
Added on July 6, 2022
Since the release of Comply 21.01 in mid-November 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, which include: Restructuring of the manner in which User Fields are stored Updates to the Combined Ethnicity, Race and Sex fields to properly use the new values added with the 2018 HMDA changes Implementation of a Geocoding Dashboard that allows clients to see in real-time both the volume of records and when they were sent to RATA for geocoding Addition of Originated and Denied variations of the Peer2Peer Dataset Comparator reports – and more… For more details and a complete list of changes, please see the changes document, located on the Start…
Added on June 22, 2022
The CFPB has released the official 2021 national HMDA peer data as of June 16th. RATA downloaded the data and quickly formatted it for use in the Comply software, making sure to match all Institution IDs with the preliminary data that was released on March 29th. 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 potentially release updates to the 2021 HMDA data based upon re-submissions, late submissions etc. and we intend to review the extent of any changes periodically to see if updates are warranted. To download the data for use in Comply, simply log on to the support site (https://support.rataassociates.com) and go to…
Schedule a free online demonstration to see what Comply HMDA/CRA can do for you!
Free HMDA/CRA DemoContact Us
