Has anybody been able to get the new rate spread calculator to work? We tried it a couple of times on Friday and again this morning, but all it does is spin.

What CFPB calculator? They released a link to one??

I'm getting the same results. I sent them an email at hmdahelp@cfpb.gov.

Randy,

https://cfpb.github.io/hmda-platform-tools/rate-spread/

I'm glad I'm not alone. I couldn't find the darn thing ANYWHERE!

Maybe this is why:

To calculate rate spread on loans with an action taken date prior to January 1st, 2018 use the prior rate spread calculator.

https://www.ffiec.gov/ratespread/newcalc.aspx

I think they have a year typo in the calculator itself, and meant action on or after 1/2/2018, not 17.

Could be since you don't enter an action taken date but I would think they would allow some testing.

You would think...but consider the source

That makes sense.

RRJ, I didn't see that reference. The only reference I see to 1/2/2017 is that the Rate Set Date must be between 1/2/2017 and todays Date.

It's at the top of the calculator and also in the "data requirements' hyperlink.

Oh...and yes, 'rate set date' 2017 is probably fine as there will be rate set dates prior to action's taken in 2018.

I still don't see it.

Rate Spread Calculator

This calculator provides rate spreads for HMDA reportable loans with a final action date on or after January 1st, 2018. Use the prior rate spread calculator for loans with a final action date before January 1st, 2018.

The rate spread calculator generates the spread between the Annual Percentage Rate (APR) and a survey-based estimate of APRs currently offered on prime mortgage loans of a comparable type utilizing the “Average Prime Offer Rates” fixed table or adjustable table, action taken, amortization type, lock-in date, APR, fixed term (loan maturity) or variable term (initial fixed-rate period), and reverse mortgage.

Data requirements for the rate spread calculator are provided in accordance with Regulation C effective January 1st, 2018.

And from the FFIEC one:


FFIEC Rate Spread Calculator

To calculate rate spreads for HMDA reportable loans, use a different calculator depending on the final action date:
•Use the new calculator available on the CFPB website if final action was taken on or after January 1, 2018.
•Use the calculator below if final action was taken between January 1, 2010 and December 31, 2017.
•Use this calculator if final action was taken before January 1, 2010.

Rate Spread Calculator for final action taken between January 1, 2010 and December 31, 2017

This calculator provides rate spreads for HMDA reportable loans with a final action date on or after January 1st, 2018. Use the prior rate spread calculator for loans with a final action date before January 1st, 2018.

The part that makes little sense to me is apparently it's only supposed to magically start working once the world calendar changes to 1-1-18. I say that since there is zero entry for an action date.

The following is the response I received from HMDA Help:

Thank you for contacting HMDA HELP. We will escalate this matter to our technical team for further assistance.

The part that makes little sense to me is apparently it's only supposed to magically start working once the world calendar changes to 1-1-18. I say that since there is zero entry for an action date.

It very well could have the dates set in the formulas. I have worksheets where the results are date driven and the date is entered in the formula and if the date is before that date no results are returned, although it will give you either NA or invalid date instead of just sitting there running the calculations in a loop.

Absolutely agree about the formula...but I can see it not returning an NA since that is a valid occurrence....Maybe an invalid date is their idea of the spinning wheel !

Appears to be working this morning - although a variable rate loan produces an answer with about 10 decimal places.

I'm still getting the spinning arrow in both IE and Chrome. Anyone else had any luck getting it to work?

still spinning arrow for me too.

Spinning for me as well.

Still not working for me either. Randy must have super powers.

When I tested it earlier this morning it worked. Now I'm getting the spinning arrow again.