HMDAVision® 5.4

Release Date 10/16/2020

Video Overview

 

Release Date 10/16/2020

Video Overview

 

New Fields

  1. Closing Costs: this is a combination of two native fields, which we have now retired: Total Loan Costs and Total Points and Fees. See further explanation of this field here: https://polygonresearch.atlassian.net/l/c/9FZY663q.

  2. Closing Costs BPS: Closing Costs over Loan Amount, expressed as basis points.

  3. Origination Charges BPS: Origination Charges over Loan Amount, expressed as basis points.

  4. Channel: this is a synthesis of two native fields: Submission of Application and Initially Payable to Your Institution, which we have now retired. See further explanation of this field here: https://polygonresearch.atlassian.net/l/c/JGu53pKk.

  5. ARM or FRM to indicate adjustable vs. fixed rate.

  6. Conforming Derived indicating, by county, whether or not the loan amount is conforming. This definition feeds into our Loan Type Derived field.

  7. Minority Detail: see https://polygonresearch.atlassian.net/l/c/Hzo2xenA.

Sheet Updates

1. HMDA Overview

We have redesigned the HMDA Overview (formerly named LAR Overview) sheet for broader exploration of the entire HDMA dataset. The sheet now has charts for exploring these domains: Product, Price, Property, Promotion, People, and Pipeline, along with our usual interactive mortgage production map and production lifecycle chart. Each chart is accompanied by a KPI offering a useful statistic for its domain.

Our intention for the HMDA Overview sheet is to help you gain a high level understanding of mortgage production, which you can then explore in further detail on subsequent sheets within HMDAVision.

2. Lender Snapshot

Lender Snapshot has been enhanced with additional charts and KPIs to provide a deeper understanding of an individual lender you choose to analyze, including a new Rank KPI which, like all our charts, responds to your filters to show your rank either nationally, or in your selected geo/product/customer segment.

3. Closing Costs

The Closing Costs sheet has been packed with several new charts and measures. For example, see the new basis points (BPS) measures in the bar charts and pivot table:

4. Closing Rate

Closing Rate has been consolidated with the now-retired LAR Rate sheet. The sheet still shows the closing rate when Originations is selected in the Action dropdown:

In a similar fashion, it will show the denial rate, etc., when you make the corresponding selection in the dropdown.

We have also added a new radio button which affects the table and the bar chart on this sheet:

This selection affects the denominator of the closing rate calculation. The default is Applications, which is what we’ve always shown. The new choice NetApplications introduces a narrower definition of applications. Here is the difference between the two:

Action Type

Applications

NetApplications

Action Type

Applications

NetApplications

Originations

Approved Not Accepted

Denials

Withdrawn

 

Closed Incomplete

 

Preapproval Denied

 

Preapproval Not Accepted

 

5. Analysis By

We have introduced a new sheet designed to be a consolidation of three existing sheets: Applications, Denials, and Originations. These sheets remain for now, but we have targeted them for consolidation as their hardwiring of an individual action type is unusual compared to the rest of HMDAVision, where we let you make the filter choices. For now, we let you choose whether to use, for example, the Originations sheet, or the Analysis By sheet, scoped to Originations. We will continue to enhance the new sheet, and welcome your feedback on which approach works better for you.

6. Census Population Analysis and Household Analysis

These two new sheets allow further exploration of the census data in HMDAVision that you’ve already been able to analyze on the HMDA+Census sheet. Initially, these are single-chart sheets which we’ll continue to enhance.

Data Updates

Periodically, we re-pull the HMDA data from the CFPB in order to update HMDAVision with late filers, updates, and corrections. This release includes both 2018 (which by now is more stable, but which we still periodically update) and 2019 HMDA data refreshes:

  1. 2019 HMDA data: updated 11/5/2020

  2. 2018 HMDA data: updated 10/7/2020

The refresh can be seen in the number of lenders reporting for 2019, now 5,539 lenders.

Coming in Future Releases

  • We have a pipeline full of enhancements - please keep sending your ideas our way! We continue to focus in parallel on:

    • Exploration - growing your understanding and insights of market dynamics.

    • Use Cases - helping you find the answers to your sales, compliance, strategy, and training questions.

  • The 2019 ACS data will be here soon; we’ll update HMDAVision® once it’s released.

© Copyright 2022, Polygon Research, Inc. | info@polygonresearch.com | (202) 315-0603