AFSA looks forward to examining the 2018 HMDA data in detail during the coming weeks.
“While HMDA data can assist regulators in several ways, the publicly-released data does not present a complete picture of the mortgage lending process,” said AFSA President & CEO Bill Himpler. “Only by examining loan-level data can accurate conclusions be drawn. However, the CFPB should not publicly disclose loan-level data. Doing so would compromise individuals’ sensitive information without their consent. Undoubtedly, consumers would object to having their address and credit scores disclosed on a government website.”
However, without that loan-level information, HMDA data cannot be used to draw accurate conclusions about why a loan was refused or made at a particular rate. The Federal Reserve has cautioned that using raw HMDA data alone could lead to faulty conclusions about lending practices.
As a reminder, here’s a summary of what data is collected now and what will be reported.
AFSA looks forward to examining the 2018 HMDA data in detail during the coming weeks.
“While HMDA data can assist regulators in several ways, the publicly-released data does not present a complete picture of the mortgage lending process,”… Read the rest
WASHINGTON–(BUSINESS WIRE)–The American Financial Services Association (AFSA) today announced that Bill Himpler, President-elect of the association since last November, becomes President & CEO, succeeding… Read the rest
AFSA’s Celia Winslow, Vice President of Legal & Regulatory Affairs, discusses the association’s recent Law & Compliance Symposium and the latest legal and regulatory issues impacting members in the next… Read the rest
Join AFSA on Thursday, April 11, at 2 p.m. ET for Jurisdictional Challenges in Motor Vehicle Lending: What You Need to Know, presented by Wolters Kluwer.
With 50 states, five territories, one federal district and more than 3,000 counties and… Read the rest
AFSA would like to welcome the following new members to the association:
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Citizens Finance Group operating … Read the rest
AFSA Education Foundation Executive Director, Rhonda Ashburn recently had the opportunity to speak with a reporter from Automotive News, the primary news source for the global auto industry. Click here to read Jackie Charniga’s … Read the rest
Late last month, the House Committee on Appropriations requested information on suggested appropriations for upcoming fiscal 2020. Congressional committees often ask constituents and industry stakeholders for suggestions on how to… Read the rest
Last month, the Senate Committee on Banking, Housing and Urban Affairs asked for feedback on the consumer finance industry’s views on cybersecurity, especially the collection, use and protection of sensitive financial information.… Read the rest
Join us Thursday, March 21, 2019, at 2 p.m. ET for Mega Marketing Trends and Online Strategies in Lending, presented by SourceLink.
There are three top trends which directly influence your marketing programs to attract and retain profitable… Read the rest
Each year since the mid-1980s, the AFSA Education Foundation offers two important enrichment programs for employees of member companies. The first program is THE EDGE, an acronym for Education, Development, Growth, and Enrichment. Designed… Read the rest
