RiskExec has recently been updated to include the following enhancements:

HMDA, CRA, and 1071 SBL Modules

Application List Refresh

When a user creates a filtered application list, selects an application to open the Application Detail page, and then saves a change to the record which causes the record to no longer meet the filter criteria, the screen with the application list will refresh and the record will drop off of the list.

Redlining Module

Shortfall Calculation

If a user hovers over a Shortfall value, the Shortfall calculation will display. Additionally, the values used to calculate the Shortfall will be highlighted within the results. 

1071 SBL Module

Audited Validation Warnings Report

A new report has been added under General reports called Audited Validation Warnings. This report provides a list of all records in which a user has audited a Validation Warning. It also provides the Validation Warnings that were audited, along with any notes entered. 

SBL Principal Owner Field Validations

Validation IDs have been updated to account for the Demographic Information of Principal Owners 1-4. The corresponding Validation IDs have been renumbered and grouped based on Data Field.

RiskExec Validations by ID and RiskExec Validations Detail Export Formats

Two new export formats have been added to the Export tab in the 1071 SBL module: RiskExec Validations by ID and RiskExec Validations Detail. 

Miscellaneous

Combined Sex - Any Male Calculated Field

A new calculated field called Combined Sex - Any Male has been added to all relevant modules for a new borrower classification.

The classification evaluates both the Applicant and Co-Applicant information provided for the sex fields. Any record where at least one male is present will now be counted in the control group as “Male Present.” The typically reviewed Target group will be labeled “Female Only” and will consist of those records where one or both of the applicants listed Female as sex and there was not a Male Present.  

This field was created primarily to address the need to analyze performance where the control group consists of male AND joint (male/female) applications. Please note that if either applicant chooses “both male and female” (HMDA Code 6) they are considered to have a male present and will be included in the Control group. 

Additional Note: This classification relies on informal guidance provided by regulators to our clients. RiskExec does not specifically endorse any particular classification methodology. If you use this classification then please verify with your regulator that it meets their expectations.