Fair Lending Webinar
Nervous about Fair Lending? Maybe you should be.
Today the “Fair Lending” laws are being enforced more vigorously than ever.
During the first two years of the Obama Administration there have been 60 Fair Lending referrals to the Department of Justice. During President Clinton’s eight years only 16 cases were referred to the DOJ and during President Bush’s two terms only 9 Fair Lending referrals were sent to the DOJ.
Fair Lending penalties can be very expensive too. One California Bank defended 5 potential violations at a cost of $6 million!
2011 Census Tract Reference Books
GeoDataVision President Len Suzio announced the release of the latest census tract reference books for all 50 states. The tract reference books contain tract identity, income class, distressed and underserved status and minority status. The tables also include the HUD EMFI and LMI threshold calculation. Finally, the tracts are arranged by state, county and minor civil division (town) making them more useful than most standard census tract reference books.
New CRA Program Template available for Community Banks
CRA exams are more difficult and taking longer than ever these days and one of the biggest reasons is a lack of data integrity. Examinations now can last for 10 or 11 weeks because examiners may spend days researching and questioning the reliability of your CRA data. The most common cause of data integrity problems is the lack of a documented CRA program including policy and systems and procedures.
2008 CRA Assement Area Ratios Report
GeoDataVision President Len Suzio announced the release of the National Community Reinvestment Act Assessment Area Ratio Report by GeoDataVision as part of its public service. “We know that the National CRA Assessment Area Ratio Report is an important tool for measuring one of the most important responsibilities for a bank under the Community Reinvestment Act,” said Suzio. The Community Reinvestment Act imposes on banks the requirement to lend the majority of their loans within the markets they have designated as their “assessment areas” under the Regulation. The “Assessment Area Ratio” is a specific test used by bank examiners to determine if a bank is meeting this fundamental responsibility under the Regulation.
2008 NATIONAL CRA COMMUNITY DEVELOPMENT LENDING REPORT
GeoDataVision President Len Suzio announced the release of the National Community Development Lending Report by GeoDataVision as part of its public service. “We believe the National Community Lending Report is invaluable for understanding community needs and evaluating bank performance under the Community Reinvestment Act,” said Suzio.
Free recorded webinar "How to prepare for your CRA exam".
On September 9th, GeoDataVision's president Len Suzio held a free 1 hour webinar for the banking community. He is now offering the recording to all registered GeoDatavision.com users.
Register today and view the video instantly.
2009 Census tract reference books
Today GeoDataVision President Len Suzio announced the release of the 2009 Census Tract Reference Books for each state. The Census Tract Reference Books are unique in that they are organized by county and town in each state and they display not only the income classification of each census tract, but the 2009 HUD EMFI and the maximum income for a borrower to qualify as a moderate-income person. The tract reference books are available for free as a public service from GeoDataVision.
Minority and High Rate Mortgage Lending Report
GeoDataVision has compiled and released a special report on the Connecticut Mortgage Market: Minority and High Rate Mortgage lending. The Report contains a suite of tables and reports with detailed information extracted from the 2007 HMDA LAR for the state of Connecticut.
2009 Housing and Urban Development Estimated Median Family Income Reference Tables
GeoDataVision President Len Suzio announced today the release of the 2009 HUD Estimated Median Family Income Reference Tables by GeoDataVision to be used by bankers for Home Mortgage Disclosure Act and Community Reinvestment Act applications. The HUD EMFI is required in order to calculate the income classification of mortgage borrowers under HMDA. This information is indispensable for professional analysis of CRA performance under the critical Borrower Characteristics test, said Suzio.
Free Community Development Performance Tool Released
On Friday, April 3 GeoDataVision announced it will post on its website a brand new tool to help bankers evaluate their CRA Community Development performance. This tool is a point rating system that will allow the user to enter data about their bank size, Tier 1 capital, community development loans, investments and services, etc. The tool will then display performance standards based on the data entered and calculate a performance rating for the user.
