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#2161861 - 01/25/18 05:31 PM Rate Spread calculator - is it down today?
Burgess Offline
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Joined: Jan 2004
Posts: 1,620
so I go to https://cfpb.github.io/hmda-platform-tools/rate-spread/ and enter 1 2 12/22/2017 4.75 and 15
and get the response
"Sorry, an error has occured.Please try again later."

Are others experiencing this today?
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#2161863 - 01/25/18 05:34 PM Re: Rate Spread calculator - is it down today? Burgess
Skittles Online
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TN
I just clicked on the link and it went to the correct website.
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#2161869 - 01/25/18 05:51 PM Re: Rate Spread calculator - is it down today? Burgess
RR Joker Offline
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worked fine for me.
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#2161890 - 01/25/18 06:46 PM Re: Rate Spread calculator - is it down today? Burgess
Cliff Johnson Offline
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Joined: Sep 2015
Posts: 46
It came back with an error for me - "We're sorry, the rate spread on entries with a rate set date between 12/25/17 and 12/31/17 cannot be calculated right now. We are working on an update to resolve the issue."

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#2161891 - 01/25/18 06:46 PM Re: Rate Spread calculator - is it down today? Burgess
crcmnot Offline
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If your final action taken date is prior to 2018, you still need to use the FFIEC calculator rather than the one on the CFPB website

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#2161892 - 01/25/18 06:47 PM Re: Rate Spread calculator - is it down today? Burgess
Cliff Johnson Offline
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Joined: Sep 2015
Posts: 46
Well maybe if I got the date right. The 22nd works fine. Quite possible from that error on 25-31 though that they are just having general issues today.

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#2161927 - 01/25/18 09:09 PM Re: Rate Spread calculator - is it down today? Burgess
David Dickinson Offline
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I spoke with Rod Alba at the ABA yesterday about several HMDA issues. He tells me the CFPB has their "doors open" for things that need to be amended, fixed, etc. Let me assure you, I gave him plenty of things to take to the CFPB. One of the things I mentioned was the rate spread calculator and how it's not working correctly. Rod tells me the CFPB is working on it and fixing several things. Randy C had pointed out in another post that the CFPB appeared to have changed the tables and the calculator was giving different results than it was earlier. Rod said he would take this to the CFPB and, if they made changes, they need to announce it so we can recalculate spreads we may have already done.

Stay tuned!
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#2161937 - 01/25/18 09:27 PM Re: Rate Spread calculator - is it down today? Burgess
rlcarey Online
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Galveston, TX
Thank's David. The FFIEC was always very careful about accuracy and changing rates that were already posted. Any changes were announced on the FFIEC HMDA What's New page: https://www.ffiec.gov/hmda/whatsnew_2017.htm

As you can see, they screwed up in Jan 2017 for two weeks and have that memorialized with their June 27 announcement. I actually just worked with a client in which that change was the difference between not being a high cost mortgage and the loan being a high cost mortgage.

The CFPB needs to be just as diligent and informative with the new APOR tables.
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#2161998 - 01/26/18 02:50 PM Re: Rate Spread calculator - is it down today? Cliff Johnson
RR Joker Offline
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Originally Posted By Cliff Johnson
It came back with an error for me - "We're sorry, the rate spread on entries with a rate set date between 12/25/17 and 12/31/17 cannot be calculated right now. We are working on an update to resolve the issue."

I did get this error for those dates, but not for the date the OP was using [12/22]
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#2162003 - 01/26/18 03:00 PM Re: Rate Spread calculator - is it down today? Burgess
cgorham Offline
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Joined: Sep 2015
Posts: 120
I believe it has been giving that message for rate set dates of 12/25-12/31 for a while now. Prior to that, it was returning incorrect results for those dates. If I remember correctly it was using the APOR from 1/1 to calculate the spread when the rate set date was in that range.

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