RiskExec Release Notes - June 30, 2021

July 1, 2021

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Expert insights and regulatory updates on RegTech, compliance management, and fair lending.

Peer Analysis

RiskExec has updated the 2021 PPP data through data released by the SBA on June 8, 2021.

Maps

Mapped Record Properties

RiskExec Maps can now use any coded field, including User Defined Fields (UDFs), for the mapped record property. To change the mapped record property, click the “Records” dropdown, then click the pencil icon next to records. Use the dropdown options to select the property you wish to use to differentiate the points on the map. The default for Maps record properties will remain Loan Action.

Filters

RiskExec Maps can now use any coded field, including UDFs, for the filters. Multiple selections of the same field will be treated as an in-list, regardless of the operator selected. The operator is used when filtering by multiple fields.

For example, the filter below will show records where Loan Action is in (Orig, Deny, or Wdrawn) AND Loan Type is in (Conv, FHA).

The filter below will show records where Rev Mort is in (Rev Mort) OR Negative Amortization is in (Neg Amort, Exempt)

Search EnhancementsIn addition to searching geographical features, the universal search bar can now search for a Loan Number, First Name, Last Name, and Street Address for the file you are currently mapping. Up to 10 loans will be at the top of the search results, followed by the geographic results. This search is enabled in all modules.

Batch Geocoding

Batch Geocoding maps will now display a legend and allow customization of the mapped record property.

HMDA and CRA

Distressed/Underserved Report

On June 25th the FFIEC released the 2021 Distressed/Underserved Tracts list (https://www.ffiec.gov/cra/distressed.htm). RiskExec has updated its 2021 Census database with this data. However, we are still waiting for the final release of the full 2021 Census file that will be used for HMDA and CRA reporting.

Here are the following changes noted from the 2020 designators:

Tracts designated as Distressed in 2020 and no markers in 2021 = 51
Tracts designated as Underserved in 2020 and both markers in 2021 = 35
Tracts Designated with no markers in 2020 and designated as distressed in 2021 = 196
Click here to view the list of 282 tracts that have changed

Any reporting you may have done so far for 2021 will need to be refreshed if you have used the Census data for 2021 that has been loaded so far.

Assessment Area/ REMA Module

Demographic Information for Geography

RiskExec has updated the Demographic Information for Geography Report found in the Assessment Area/ REMA module. If the area is a single MSA or a single county, it will now include data for Median Housing Value and Median Gross Rent in the report.

Dynamic Importer

The Dynamic Importer will now display the progress of the import through a progress bar. This bar will indicate how many records have been processed. Additionally, under the import tab in the HMDA and CRA modules, previous imports that used the Dynamic Importer will be displayed. It will also indicate the progress of a Dynamic Import.

Recommended Resources

Propel™ by Asurity - Case Study: Proprietary LOS Integration

Find out why a top-ten mortgage lender with a proprietary loan origination system (LOS) needed to convert from a legacy document platform.

Goals Module Overview

Learn more about the Goals Module and its key monitoring and reporting features.

Reg+Tech Magazine Volume 2 Issue 1

Learn about the changes of state consumer protection and the responsibility of financial services institutions to pursue operational excellence and a culture of compliance.