Since authority was transferred to the Consumer Financial Protection Bureau (CFPB) in 2011 upon the bureau's inception, its eye has been fixed on HMDA
, among other concerns.
The Board has carefully considered the lending records of Applicants and CFB in light of comments on the HMDA
data reported by their subsidiary banks.
Wiz is now available as an SaaS or cloud computing solution, institutions can begin using it to collect, report on, analyze and submit HMDA
data to their regulator almost immediately.
The Board is concerned when HMDA
data for an institution indicate disparities in lending and believes that all banks are obligated to ensure that their lending practices are based on criteria that ensure not only safe and sound lending, but also equal access to credit by creditworthy applicants regardless of their race or income level.
The report from the Federal Reserve, The 2006 HMDA
Data, examined aggregated data released by the Federal Financial Institutions Examination Council (FFIEC) regarding mortgage transactions at 8,886 lending institutions covered by HMDA
throughout the country.
The Board has carefully considered the lending records of, and HMDA
data reported by, JPMCB, CMMC, and Chase USA in light of the comments received.
Enacted by Congress in 1975 and implemented by the Federal Reserve Board's Regulation C, HMDA
requires lending institutions to report public loan data for specified residential lending activities.
The Board also has carefully considered Citizens' lending record in light of the comments on HMDA
data reported by its subsidiaries.
Because ignorance is not bliss when it comes to HMDA
Wiz Basic's complete front-end HMDA
management solution provides geocoding, edit checks, reporting and submission capabilities.
The Board also has carefully considered SouthTrust's lending record in light of public comments received by the Board on HMDA
data reported by SouthTrust.
Many of the data points are available for the first time in the 2018 HMDA