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#1508145 - 02/10/11 06:11 PM Quality Edit 070
jlroberts Offline
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jlroberts
Joined: Sep 2009
Posts: 1,564
Ohio
What's up with this new edit:
if the percentage of these loans that are sold to Fannie Mae or Freddie Mac in the current year is less than the percentage of the same type of loans sold to Fannie Mae or Freddie Mac in the prior year, then the percentage difference between the two years should be less than 10%;

Why does HMDA care that we sold less loans to Freddie in 2010 than in 2009. Our Freddie sales were down 22%. They want an explaination.

Do I just state that our overall lending was down 19% from the previous year thus resulting in a decline in Freddie Mac sales.

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#1508153 - 02/10/11 06:20 PM Re: Quality Edit 070 jlroberts
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,285
It's a Q edit so you don't have to explain anything.
If you're good with it then so be it.

As to 'Why does HMDA care....'? That, my dear, is the $64,000 question, isn't it? crazy

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#1508178 - 02/10/11 06:49 PM Re: Quality Edit 070 jlroberts
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Originally Posted By: jlroberts
What's up with this new edit:
if the percentage of these loans that are sold to Fannie Mae or Freddie Mac in the current year is less than the percentage of the same type of loans sold to Fannie Mae or Freddie Mac in the prior year, then the percentage difference between the two years should be less than 10%;

Why does HMDA care that we sold less loans to Freddie in 2010 than in 2009. Our Freddie sales were down 22%. They want an explaination.

Do I just state that our overall lending was down 19% from the previous year thus resulting in a decline in Freddie Mac sales.


Don't forget that the government uses HMDA data for analysis beyond your individual bank. They get industry trends, etc. I would think the government is very interested in Fannie/Freddie right now.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1508195 - 02/10/11 07:02 PM Re: Quality Edit 070 Truffle Royale
jlroberts Offline
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jlroberts
Joined: Sep 2009
Posts: 1,564
Ohio
TR- This edit comes out on it's own page and actually has a line labled Q070 Explaination

KB - That's exactly what my lending manager said when I asked his opinion. smile
Last edited by jlroberts; 02/10/11 07:06 PM.
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