RiskExec has recently been updated to include the following enhancements:

2023 Census Flat File and FFIEC Median Family Income Updates

The updated 2023 Census Flat File has been released by the FFIEC and RiskExec's census data has been updated. None of the geographies have changed in this release. The file has updated values for MSA Median Family Income, so Borrower LMI and Income Class may have changed. Tract LMI did not change. 

Please note that the FFIEC still has NOT included data for the Island Areas (American Samoa, Commonwealth of the Northern Mariana Islands, Guam, and the U.S. Virgin Islands). This may be coming in an update later this year.

The FFIEC has also announced that the 2024 Census Flat File will incorporate the new MSA and MD definitions in OMB Bulletin 23-01, and also potentially the changes in the Connecticut counties, so next year will have extensive geographic changes.

1071 SBL Module

RiskExec 1071 SBL Data Comparison to HMDA and CRA

Our comparison of 1071 SBL to HMDA and CRA is now available in the Help Center here. This review reflects our understanding of the intersection of these rules at this time. We understand the Consumer Financial Protection Bureau (CFPB) will continue to provide guidance and further clarification related to 1071 SBL.

The file attached to the Help Center article was created using the CFPB data points file that was shared when the final rule was published in March 2023. Our team added columns describing the comparison of HMDA and CRA data, respectively, to the 81 1071 SBL data points. Additionally, the final row of the workbook provides additional comments about the comparison of HMDA and CRA to 1071 SBL. While there are similarities, 1071 SBL is more complex than the CRA data collection requirements. 1071 SBL shares similarities with HMDA requirements but there are notable differences in how some similar fields can be populated. 

Peer Analysis Module

Disparity Indices Report

The Disparity Indices report for HMDA Geographical Peer Sets has been updated to include Combined Race/Ethnicity.

Fair Lending Module

Matched Pair Analysis Results

A new tab has been added to the Matched Pair Analysis Results that lists all Comparator applications with any associated Target applications. This tab enables users to easily identify when a single Comparator file is matched to multiple Targets.

Redlining Module

Analysis Results Update

Two new columns have been added to the Peer and Market tabs in the analysis results for Analysis Measures that are tract-based. The available tract-based measures are selected below:

The results will now include a column with the total number of tracts for a geography and a column with the number of tracts in the geography for the selected measure.