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How to Analyze Your Competitor's 2018 HMDA Data Now

May 7, 2019 by Brian Arnesen

HMDA data provides significant insight into your competition. With 85 public data fields, institutions can better understand their competition overall and evaluate individual competitor’s lending practices to identify potential opportunities. Dive into the data and discover . . .


"What types of loans are your competitors offering?"


"How does your distribution of applications compare to your competitors based on borrower demographics and/or geography?"


 While as of this writing, the CFPB hasn’t yet published the full aggregate HMDA data, they recently published modified LAR data for individual lenders on their website. This enables anyone to search for an institution by name and download their LAR — the only caveat being you can only download LARs one-by-one.


While software companies are still waiting for the full HMDA dataset to be released, lenders can get a jump start analyzing their competitor's data now.


How to Access the Data

Accessing your competitor's data and translating it into something readable only takes a few steps. First, go to the CFPB's website and search for your competitor by name.

Modified LAR
Open a new Excel document and choose Data > Get Data > From File > From Text/CSV . . .
Excel Data Import


. . . and select the .txt file you just downloaded.


Your preview should look similar to this:

Excel HMDA Data Import Preview

Once you click "Load", your data will be imported into Excel. (This may take several minutes depending on the LAR size.)


Next, you will want to replace the 85 column names with the ones from the CFPB. You can do this manually, but there is a faster way. You can download the 85 public fields here and add them to a new row on the .txt file.

Merged LAR

That's it! You now have everything you need to start analyzing your competitor's data!


Important New HMDA Data Fields

Historically, lenders have easily analyzed their competitors HMDA data — but, with expanded data being made public, you can get a better understanding of your competition and the credit needs of the communities you serve.


There are several fields in the public data that have been modified including age, loan amount, property value, debt-to-income, and multifamily affordable units:

Modified HMDA Data Fields
Important New HMDA Data fields

Many of the new data fields provide insight into specific loan types, terms and conditions, and pricing. (You can view the complete list of fields on the modified LAR here.)


Peer Data Challenges

Since the 2018 HMDA data is now in a new format, all software vendors will need to wait for the entire HMDA data set to be released by the CFPB. With some data such as DTI, Age and Total Units in ranges instead of numerical values, new fields will need to be programmed. We expect this to take a few weeks after the national data is released and made available as soon as possible. Once we update our software, Compliance RELIEF will be able to provide users with in-depth comparison reports and charts. 


Our Market Data module is built specifically to analyze your institution's lending and compare it to your peers. Contact us today if you'd like to see a demo!


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