Comply News

The CFPB has released the official 2022 national HMDA peer data as of June 29. 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 July 6. 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 2022 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 in to the support site (https://support.rataassociates.com) and go to Comply…

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Since the release of Comply 22.0 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: Regression in Fair Lending now includes the ability to perform Marginal Effects testing Auto-Update has been rewritten as a RESTful service, replacing the SOAP web service calls. It now uses port 5420 and the new URL is https://updates.rataassociates.com:5420/Updates CRA MicroData Exports now include the option to specify another type of field header in place of the transmittal record Dashboard controls can now perform Means and other aggregate functions For more details and a complete list of changes, please see the changes document, located on the Start Page under…

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Did the CFPB require filers to resubmit corrected street addresses? No. Answering a RATA client in May 2023, HMDA Help said punctuation and abbreviations in street names and numbers were not what its analysis flagged, and that the guidance was sent to help filers review their data if they chose to. It was not a mandatory request for resubmission. Update 5/9/2023: Just wanted to follow up with all of you as we learn more about the address quality letter. RATA has not gotten a response to our letter yet, but one of our clients submitted a letter on their own and I think the response is worth sharing and will make many of you feel better. See below. Question from RATA Client: The email "HMDA Data Outreach: Review Data for Invalid Entries in the Street Address Field" leads me to believe that…

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Update 4/18/2023 A customer reached out to the CFPB HMDA Help and received the following reply: Hello, Thank you for reaching out for clarification! This email went out to several financial institutions that had data flagged when we ran an analysis on the Street Address field. The brief that was attached to the original email describes the types of issues that were discovered. Please use the examples of errors in the brief to review your data and resubmit if needed. We are unable to support an individual file review. Note that there is a chance that the analysis may have flagged data that is accurate resulting in false positives. If you have reviewed your data and found it to be accurate, no action is needed. Thank you, CFPB HMDA   This definition is a short-term solution to help…

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The CFPB has gotten into a pattern of releasing two versions of HMDA peer data. To get the data out quickly, they assemble the submissions and make preliminary public data available around mid March of each year. The release of the final data with full transmittal information usually comes a few months later. As with previous years, we have decided to release a non-official version of the HMDA peer data so that all of you can start doing Peer Analysis on the current data. This release uses the Modified LAR Data from the CFPB, which we have combined and reformatted. This data gives the ability to perform analysis on a preliminary basis until the official national dataset is released later this year (typically in June). We have tested to make sure the numbers look reasonable and believe…

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