There is a great deal of discussion concerning the practice of conducting fair lending analyses of non-HMDA reportable lending using proxy methods. Recall that when analyzing such data, there is no information pertaining to the race, ethnicity, or gender of the applicant. Instead, we use a proxy, a variable that is correlated with, but not equal […]
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The new HMDA rules which will begin taking effect in 2018 is the single most significant compliance change with regard to HMDA since its beginning in 1975. The FDIC is hosting an important teleconference to discuss requirements and best practices.
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The FFIEC announced last week that 2016 Home Mortgage Disclosure Act (HMDA) data for reporting institutions is now publicly available for calendar year 2016. Enacted in 1975, the Home Mortgage Disclosure Act requires lenders to report mortgage applications received during the prior calendar year.
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The Federal Deposit Insurance Corporation (FDIC) adopted a final rule to enhance the resilience and safety and soundness of state savings associations and banks supervised by the FDIC that are affiliated with systemically important U.S. and foreign banking organizations (“covered FDIC-supervised institutions”).
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The emphasis of managing all aspects of regulatory compliance in the current environment center on understanding, measuring, and mitigating risk. For many facets, however, this remains esoteric due to subjectivity and the span of unknowns that surround most issues. Therefore, it is often very difficult for an institution to accomplish this with any degree of […]
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The Federal Reserve Bank of New York’s “Nowcasting” economic model is designed to produce real-time measures of the economy. The purpose is to provide more frequent and current updates to traditional economic forecasts. Specifics on the methodologies employed can be found: https://www.newyorkfed.org/research/policy/nowcast/methodology.html.
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The notice of proposed rulemaking (NPR), issued jointly by the FDIC and the Office of the Comptroller of the Currency (OCC), would shorten the standard settlement cycle for securities purchased or sold by FDIC-supervised institutions, national banks, and federal savings associations from three to two days (T+2).
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Activity in the region’s service sector expanded modestly, according to firms responding to the Federal Reserve Bank of New York’s September 2017 Business Leaders Survey. The survey’s headline business activity index edged down two points but, at 9.4, indicated continuing growth.
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The federal bank regulatory agencies issued yesterday (September 13th) a joint notice of proposed rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA).
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The national economic state appears to continue in the holding pattern observed over the last few years according to data through September 5th of this year.
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