Polygon Research Blog

HMDAVision Now Live with 2018 HMDA Data!
July 19, 2019
Since the CFPB first released its 2018 HMDA Data Home Mortgage Disclosure Act (HMDA) Modified Loan Application Registers (LARs) data earlier this year, Polygon Research has been working to acquire, profile, model, cross-reference, and visualize the data. We are really excited about the result – a major new release of our Software-as-a-Service app HMDAVision.

There are three highlights we'd like to share today, leaving more detail for future blog posts.

Scope
  • HMDAVision addresses all 85 data fields of the available 2018 HMDA Modified LAR data for the more than 5,600 reporting lenders whose data meets our threshold for relevance and reportability.
  • To this we add:
    • over 2 dozen custom, calculated fields for enriched analysis
    • microdata from the latest year's US Census American Community Survey (updated each Fall) for deep analysis of the population and housing inventory in the areas in which our customers are lending or working with lenders
Data Quality
The 2018 data looks great, with a couple exceptions (HMDAVision is updated once a month with any updates and corrections made available by the CFPB):

Example 1: 2018 Applicant Income has the lowest percentage of empty fields of the past 5 years, which augurs well for good data quality, but the incomes include negative values for the first time. This is consistent with definitions of gross income, but may be a surprise if you're not expecting it. The data also includes some quite high and quite low outliers. It's hard to know if outliers are accurate; HMDAVision helps by allowing you to filter out the applications which didn't reach a credit decision, and may therefore only be self-reported.

Example 2: There is a conflict in some cases between the FIPS code and the state abbreviation in the data – our decision in these cases has been to go with the more detailed information contained in the FIPS. HMDAVision is based on microdata – this allows granular filtering to see applications by lender, by MSA, County, or Census Tract. Or by any of the other dimensions in the data, in any combination. If you ever detect something you think is an anomaly in the data, let us know, and we'll investigate further.
Value
The net new fields in the 2018 data include a ton of useful information:

Example 1: See our new Reg Z Pricing sheet (each of the 13 sheets in our app has a theme to which we dedicate several individual charts, tables, and maps). Understand lender performance relative to peer groups which you define and control.

Example 2: We model 37 fields across all 5 years in HMDAVision, with 60 fields unique to 2018. We're excited about the significant value-add provided by these new, 2018-specific fields!
We're happy to answer questions – see our contact info here – and to provide demos. Or just jump right in and subscribe here – see both our annual and our new monthly subscription options.
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