RATA
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,…
Comply 20 Is Now Available - 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…
RATA Implementing the CRA Modernization
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…
FFIEC Releases 2020 Demographic Data
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…
2019 HMDA Peer Data is Available
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…
- California's New Fair Lending Exam Law: What State-Chartered Banks, Credit Unions and Mortgage Licensees Should Have Ready
- How to Benchmark Your CRA and HMDA Lending Against Peer Data
- HMDA vs CRA vs Section 1071: What Each Rule Collects and Who Has to File
- Fair Lending Regression Analysis: What It Controls For and How to Explain a Pricing Disparity
- 2026 HMDA Data: Your Filing Checklist for the March 1, 2027 Deadline
- HMDA Plus: What It Actually Changed in the LAR Workflow
- How to Fix the 10 Most Common HMDA Edit Check Errors
- CFPB and DOJ Settle Redlining Claims Against Non-Depository Mortgage Companies Before Change in Administration
- How to Evaluate Fair Lending and CRA Software: What to Test Before You Sign
- What a Fair Lending Exam Actually Asks For
- Fair Servicing: What Examiners Test in Servicing Data, and How to Test It First
- What Actually Counts as a Small Business Loan Under Section 1071
- Section 1071 in 2026: What Lenders Need to Know About Small Business Lending Data
