RiskExec® by Asurity® Announces Preliminary Modified LARs for HMDA 2023 Available to Users
WASHINGTON, March 27, 2024 /PRNewswire/ -- RiskExec, Inc. ("RiskExec") a subsidiary of Asurity Technologies®, LLC ("Asurity"), is pleased to announce the availability of the Preliminary Modified Loan Application Registers (LARs) for Home Mortgage Disclosure Act (HMDA) 2023 submission data. The Consumer Financial Protection Bureau (CFPB) has recently deposited this data in the public domain, and RiskExec has swiftly downloaded and verified the information.
RiskExec is a SaaS compliance and reporting platform designed for managing regulatory compliance for banks, mortgage lenders, credit unions, auto lenders, and digital lenders. The best-in-class solution quickly geocodes, runs edit checks, and with clean data, creates analyses to determine lending dispositions, compares to peers by market, and tracks performance towards achieving internally defined goals.
While awaiting the official release of the Respondent Panel necessary for converting this data into Depositories, Independent Mortgage Companies, and Credit Unions, RiskExec has leveraged its expertise and logic to provide users with immediate access to this critical market information.
"We understand the importance of timely access to comprehensive data for informed decision-making in the mortgage industry," said Anurag Agarwal, President, RiskExec. "With the Preliminary Modified LARs now available, RiskExec users can gain valuable insights into originations, lending trends, and top lenders' performance in 2023."
RiskExec is conducting in-depth reviews and three-year trending analyses to offer users a more detailed understanding of market dynamics and performance metrics. A snapshot of year-over-year changes reflects this:
2021 |
2022 |
2023 |
|||||||||||
All |
Banks |
MortCo |
CU |
All |
Banks |
MortCo |
CU |
All |
Banks |
MortCo |
CU |
Unkwn |
|
All Originations |
14,997,308 |
4,258,352 |
9,337,849 |
1,401,107 |
8,394,278 |
2,721,588 |
4,408,101 |
1,264,589 |
5,685,457 |
1,857,789 |
2,887,228 |
939,706 |
734 |
Conventional |
12,274,314 |
3,975,578 |
6,958,811 |
1,339,925 |
6,917,131 |
2,564,359 |
3,124,889 |
1,227,883 |
4,520,583 |
1,723,013 |
1,886,107 |
910,730 |
733 |
FHA |
1,375,286 |
113,615 |
1,254,852 |
6,819 |
861,740 |
80,352 |
776,413 |
4,975 |
751,754 |
80,315 |
665,437 |
6,001 |
1 |
VA |
1,232,064 |
144,492 |
1,034,704 |
52,868 |
558,745 |
65,402 |
462,258 |
31,085 |
377,684 |
46,860 |
308,527 |
22,297 |
|
FSA/RHS |
115,644 |
24,667 |
89,482 |
1,495 |
56,662 |
11,475 |
44,541 |
646 |
35,436 |
7,601 |
27,157 |
678 |
|
RiskExec users can access this data today, offering them a competitive advantage in navigating regulatory compliance and optimizing lending strategies.
For more information or to schedule a demo, contact Chris Gray at [email protected] or (202) 765-2150.
About Asurity Technologies® LLC
Asurity Technologies, LLC (Asurity.com) delivers compliance-focused services and solutions to the mortgage and consumer lending industries. Asurity's ecosystem of service and SaaS products includes: Asurity Advisors, helping institutions mitigate regulatory, operational, and compliance risks while enhancing efficiencies; RiskExec®, a state-of-the-art reporting and analytics platform helps lenders meet demanding regulatory requirements for fair lending and CRA; Propel™, a highly configurable solution for the dynamic preparation of compliant mortgage document packages; and RegCheck®, a mortgage loan compliance solution which runs comprehensive checks against loan-level data pulled from any integrated LOS.
Asurity is owned by its principals and employees, and operates without the constraints of a public company or private equity ownership. For more information about Asurity and its suite of regulatory compliance services and products, visit www.asurity.com.
Media Contact:
Era Williams
Director of Marketing
Asurity Technologies
(214) 257-1763
[email protected]
SOURCE Asurity
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