What effect do you think the Pricing data will have on Fair Lending?
Legal experts, regulators and community groups seem to think that the pricing data will be cause for potential law suits in the near future. What are your thoughts?
I completely agree with the previous statement. A big concern is there are not a lot of individuals or groups who understand what makes up HMDA data. There are many factors not reported that assist in mortgage companies making a credit decision. I think the fourth quarter is going to be very interesting with the release of the information.
For anyone not aware, RATA will be releasing the Comply Peer-2-Peer analysis tool sometime this month. We are currently waiting for the public data to be released. This will be a web based product, so all you have to do is login and go. No installations or setup required. For more information or to see a demo contact a RATA support person or sales contact. (407) 831-7282 or email sales@rataassociates.com. Thanks.