Responding to the HMDA Data Challenge - Announcing HMDAVision

October 22, 2018
HMDAVision contributes to the mortgage banking industry in two important ways:

1) By providing a powerful common analytics platform that can be accessed at the same time by all stakeholders in the industry who will see the same information, HMDAVision facilitates a constructive, fact-based conversation about lending practices and trends.

2) Delivered as-a-service, HMDAVision dramatically lowers costs of analysis of this data and becomes a low-cost and efficient alternative for market analysis.
Polygon Research is proud to announce the launch of its first cloud-based application for the residential mortgage industry: HMDAVision. HMDAVision aims to revolutionize the way HMDA data is analyzed and consumed. We have done the hard work of modeling the latest five years of HMDA data and of presenting it in interactive charts which objectively present KPIs and trends.

Insights available:

Market Size & Growth Understand key dynamics by geography, product, borrower, economic area, property type and lien status

Housing Market Overview Instantaneous insight into the nature of housing stock, and the size of the housing market

Population Overview Gain quick understanding of the demographic makeup of the market and the market originations by borrower segment

Market Health and Distribution Get the pulse of the health of the market

Competitive Landscape Define your market and get immediate answers about the market players

Lender Benchmarks Understand peers in market: analyze their production volumes, and glean their marketing, sales, and underwriting strategies by a variety of measures

Denials Understand denial trends and see primary, secondary, and tertiary denial reasons. Drill down and cross filter to analyze your and your competitors' patterns. Cross filter by all major HMDA dimensions

Closing Rate Understand the trends in closing rate by a variety of measures and dimensions, including geography, type of lender, borrower segment, product segment, and many others
How Can Sales Teams Benefit from HMDAVision?

Leverage analytical maps to reveal gaps in originations at geographic market, and drill into these gaps by property type, product, type, borrower ethnicity, and other dimensions.
Quantify the market opportunity to help lenders or individual bankers/brokers grow efficiently.
Use peer benchmarking data to position and communicate business strategy when recruiting new loan officers or to inform loan officer compensation plans.
Identify sales expansion opportunities – target branches and MLOs
How Can Compliance Teams Benefit from HMDAVision?
Monitor areas of concern with HMDAVision Risk Indicators:

Underwriting: Monitor Denial Rates and other Measures
Pricing: Monitor the disparities in the number of higher-priced on a prohibited basis
Redlining: Consider the lack of applications from lending in minority areas and disproportionately high denial rates for applicants located in minority areas
Steering: Monitor the gaps between percentages of prohibited basis groups in each of the loan alternative products
Marketing: Lower levels of applications from prohibited basis groups compared to their representation in the total population of the bank's market area
Roadmap
In 2019, the industry will produce an enriched HMDA data set. The Bureau of Consumer Financial Protection (BCFP) is still in the process of deciding which fields will be released to the public. Even if the BCFP decides to release only few of the additional data points, the conversation among stakeholders will be enriched. Polygon Research plans to establish and continually update HMDAVision so it can serve as a reliable tool for all US residential mortgage industry stakeholders.
Software-as-a-Service for mortgage market intelligence
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