AllRegs Introduces New HMDA Reporting Tool

AllRegs, an online publisher of mortgage compliance information and a provider of mortgage industry training, is now making a new Web-based Home Mortgage Disclosure Act data mining and analysis tool available to lenders.

The LendingPatterns product, developed by CLC Compliance Technologies, will be exclusively delivered by AllRegs, the company said. The LendingPatterns tool can be used to analyze millions of records from thousands of lenders that file HMDA data, AllRegs said.

The tool will include data from 2004, 2005 and the new 2006 HMDA data within 30 days of its release, AllRegs said.

AllRegs said LendingPatterns allows users to create reports that detail market, lender and borrower characteristics in the form of a PDF file that can be saved.

The 2005 HMDA data include almost 37 million records generated from home loan applications from more than 8,800 lenders.

That allows users to retrieve information about the size of a market, ranking of competitors, approval rates, denial rates, low- to moderate-income lending, and high-cost lending, AllRegs said.

Dan Thoms, senior vice president for AllRegs, said the vast number of reports available using LendingPatterns should help lenders address topics such as market analysis, fair lending, spread/pricing analysis and GSE investor activity.

"Not only can users determine who they are lending to, or who their competitors are lending to, they can also review their own data to determine if they are staying compliant. It is as much a compliance resource as it is a marketing and sales resource," he said.

Maurice Jourdain-Earl, founder and managing director of CLC Compliance Technologies, said HMDA data are a vital resource of information for public and private stakeholders.

"The current state of the home mortgage market makes having market intelligence much more critical. LendingPatterns was built by mortgage industry subject matter experts for like-minded professionals. That's why, for example, LendingPatterns reports on underwriting and pricing outcomes of prime and subprime lending by race, ethnicity, income and geography," Mr. Jourdain-Earl said in a news release.

He said the program's ease of use is suitable for employees of different levels and does not require expensive technical training.

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