MAPPS Applauds Parcel Provision in Financial Services Reform Bill - Parcel ID Number Collection Prov
Wednesday, July 21, 2010
Posted by: Nick Palatiello
DC - MAPPS (www.mapps.org), a national association of mapping and geospatial
firms, applauded the inclusion of a parcel geocoding provision providing for an
'early warning system' in the Financial Regulatory Reform legislation that
President Obama signed today. Section 1094 of the Conference Report calls for
the Bureau of Consumer Financial Protection to collect the "parcel number
that corresponds ...[to] ... real property pledged or proposed to be pledged as
collateral" to help track the number and dollar amount of mortgage loans
and completed applications grouped according to measurements such as parcel
comprehensive legislation makes amendments to the Home Mortgage Disclosure Act
(HMDA), including a provision for the newly-created Bureau of Consumer
Financial Protection within the Federal Reserve to collect the "parcel
number to permit geocoding" on mortgage transactions.
Executive Director John Palatiello said, "The provision employing
geospatial technology at the parcel level under HMDA provides much more
detailed information for an 'early warning system' to identify future anomalies
in the mortgage market. It contains information about the value, improvements,
taxes, and something that none of the current government mortgage datasets,
including HMDA, maintain - the physical location of the property,"
Cadastre Task Force Chair Susan Marlow (Smart Data Strategies, Franklin, TN)
testified before Congress on the benefits of parcel level data in September
2009 saying, "Many analysis and decisions are being made using the wrong
level of geography. The Census tract data that is currently being used under
Section 2803 of HMDA was created by forming blocks and tracts that were logical
for counting people." She went on to say, "While FedEx can track the
location of millions of packages per day moving around the world, the Federal
government does not track the location of land, and it is stationary."
you have the right tools and the right data in place, you can build predictive
models using very basic statistical analysis that accurately forecasts and
locates foreclosure and delinquency hotspots, thus providing an early warning
system," said MAPPS President Jeff Lovin (Woolpert, Dayton, OH).
concluded, "MAPPS supported the inclusion of the geospatial language in
the Conference Report because an 'early warning system' based on geo-located
property data at the parcel level will help prevent future disruptions to the
market, financial collapses, and government bailouts."
1982, MAPPS is the only national association exclusively comprised of private
firms in the remote sensing, spatial data and geographic information systems
field in the United States. The MAPPS membership spans the entire spectrum of
the geospatial community, including Member Firms engaged in satellite and
airborne remote sensing, surveying, photogrammetry, aerial photography, LIDAR,
hydrography, bathymetry, charting, aerial and satellite image processing, GPS,
and GIS data collection and conversion services. MAPPS also includes Associate
Member Firms, which are companies that provide hardware, software, products and
services to the geospatial profession in the United States and other firms from
around the world. Independent Consultant Members are sole proprietors engaged
in consulting in or to the geospatial profession, or provides a consulting
service of interest to the geospatial profession.
MAPPS provides its 180+
member firms opportunities for networking and developing business-to-business
relationships, information sharing, education, public policy advocacy, market
growth, and professional development and image enhancement.
information on MAPPS, please visit www.MAPPS.org.