RATA
Agencies release annual CRA asset-size threshold adjustments for small and intermediate small institutions
The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification. Those meeting the small and intermediate small institution asset-size thresholds are not subject to the reporting requirements applicable to large banks and savings associations unless they choose to be evaluated as a large institution. Annual adjustments to these asset-size thresholds are based on the change in the average of the…
RATA to add Business and Farm Census Data to Comply
As part of the upcoming 16.1 Comply release, RATA will be adding the Business and Farm data based on a census of businesses. Up to this point RATA has been using the CRA Aggregate peer business data for performance measures in our CRA Performance Evaluation reports. Many institutions have requested that we use the Business/Farm census data and we have decided to move forward with the latest data we could obtain. All reports that use this data will be offered in both the current aggregate versions and the census of businesses versions to increase your analysis options. This will be available to all customers licensed for Comply CRA at no additional charge. By adding this new data and functionality to the 16.1 release we have had to push the delivery dates of both 16.1 and the 17 beta…
Comply DataMine Report Builder
The Comply DataMine analysis tool is RATA's new advanced custom report builder. RATA clients will now have the ability to build both custom pivot tables and custom executive reports using the power of Microsoft Excel, SQL Server Analysis Services (SSAS) and your Comply Database. With this powerful configuration you are able to create reports using combinations of your latest HMDA and CRA data, peer data, demographic data, deposit data and more. This new optional component is available for use with the 2015 HMDA and CRA peer data and will give customers much more flexibility for analyzing their own data compared to peer data by year, geography and additional filters. Regulators have been recently creating peer groups by asset size, rate spread percentages and geography. The new Peer Group…
2017 Submission format and 2018 Universal Loan ID (ULI) information
As part of the upcoming HMDA changes, we are getting a lot of inquiries on two topics in particular. 1) Handling of the HMDA 2017 data submission in February 2018. There are no data changes to the HMDA 2017 data being submitted in February 2018. The only change to the HMDA 2017 submission is that the submission file itself will go from the current fixed-length record format to a pipe "|" delimited format. This change will be available in version 17 of the Comply software, to be released in 2017. 2) In regards to the Universal Loan Identifier (ULI), RATA Comply will be able to accept loans for 2018 either with or without ULI. As part of the Reporting Entity (RE) properties in Comply there will be a field for the Legal Entity ID (LEI). During the import process all loans that are not Action…
CFPB Warns Financial Institutions About Potential Mortgage Lending Reporting Failures
CFPB Puts 44 Mortgage Lenders and Brokers on Notice That They May Be Required to Report Mortgage Data WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is issuing warning letters to 44 mortgage lenders and mortgage brokers. The Bureau has information that appears to show they may be required to collect, record, and report data about their housing-related lending activity, and that they may be in violation of those requirements. "Financial institutions that fail to report mortgage information as required make it harder to identify and address discriminatory lending," said CFPB Director Richard Cordray. "No mortgage lender that is required to report their loan data can avoid this responsibility." The Home Mortgage Disclosure Act, which was originally enacted in…
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