Mortgage TrueView launches new HMDA scoring tool

Mortgage TrueView launches new HMDA scoring tool

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The CFPB released the final rule amending and expanding reporting requirements under Regulation C and the Home Mortgage Disclosure Act. The 797 page rule includes the threshold for covered institution reporting, changes to covered transactions, requirements for large volume reporters, new reporting procedures, disclosure and privacy, along with new and modified data fields.

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LenderClose announced it is launching a new compliance tool to help companies navigate the Home Mortgage Disclosure Act. Its new tool will allow community banks and credit unions to validate and.

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Although lenders might not need to worry as much about enforcement of the new HMDA rules, they have plenty of other compliance matters to be concerned about.. HMDA Not the Only Compliance Concern For Mortgage Lenders in 2018. By.. Using these types of tools, lenders can identify how the.

 · The new changes will more than double the number of reportable HMDA data fields that institutions must collect, edit and submit. In analyzing the new fields that were added to the HMDA requirement, we have identified 14 fields that presently exist within RATA Comply HMDA/CRA and 39 fields that will need to be created. The new fields to be added.

The Revised HMDA reporting changes impact more than data.. mortgage credit to create transparency for borrowers and accountability for. CFPB implementing a new reporting tool that will use a new LAR file specification

CFPB launches new HMDA online tool, continues rate spread calculator. By Richard J. Andreano, Jr. on December 28, 2017 POSTED IN CFPB MONITOR, HMDA, MORTGAGES. The CFPB has launched a new online "Digital Check Tool" to be used by companies reporting hmda data starting January 1, 2018.

Ellie Mae is the leading cloud-based platform provider for the mortgage finance industry. Our technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency.

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The rural and underserved areas tool can be found here. CFPB Launches New HMDA Tools The Consumer Financial Protection Bureau (CFPB) launched the 2018 hmda loan/application register (lar) formatting tool to help banks create a data file that can be submitted electronically. The tool should be used for data collected in 2018 and reported in 2019.

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