Solutions | CRA/HMDA | LMI Lending Opportunities

Capture LMI Lending Opportunities while You Lower Costs and Increase Portfolio Value

Just because you create special loan programs to promote low and moderate income (LMI) lending doesn’t mean they will succeed. Many lenders have trouble flagging applicants who qualify for these programs. Some applicants may inquire about LMI opportunities, but many if not most others will not. It is up to you, the lender, to uncover eligible applicants for your programs if you want to ensure success.

What you need is the ability to grab the data for all loans in batch or real time at any point in the process and combine it with appropriate demographic data, to receive insight into the geographies and applicants to whom they are lending. Once you have that, you can flag eligible loans as soon as possible.

PCi has the tools to help you do this and more. Components of our CRA solutions will easily integrate with existing systems and processes to identify applicants and loans that qualify for CRA and/or other special loan program credit.

These tools are highly customizable and deliver a compelling set of benefits by automating a variety of tasks that ordinarily require multiple tools and extensive manual labor:

Lower cost

Reduce the labor and time involved in identifying applicants eligible under the institution’s LMI program guidelines

Lower risk

Reduce the likelihood of errors such as wrongly classifying applicants and improperly pricing loans in violation of anti-predatory lending regulations and LMI program guidelines

Increase quality

Use of the latest demographic and geographic data and integrated rate spread calculator to ensure that the resulting pool of LMI loans are highly marketable and meet regulatory guidelines for delivery on the secondary market

With a little help from us, you can:

• Target applicants for special loan programs during the loan application process
• Flag qualified loans for the secondary market
• Automate the calculated rate spread on loans that exceed the HMDA-specified threshold (required for loans being sold to Fannie Mae and Freddie Mac)
• Support your LMI programs with flexible customization that flags loans that qualify

Click here to contact a product sales specialist to learn how other institutions are using our CRA solutions for:

• High cost loan assessment
• Data Cleansing & Standardization
• Premium loan location