Find out why a top-ten mortgage lender with a proprietary loan origination system (LOS) needed to convert from a legacy document platform.
Distressed/Underserved Report
RiskExec now has the option to view the Distressed and Underserved report based on either the existing FFIEC definition or the OCC’s new definition of areas that are considered distressed and underserved for the 2021 submission year. Please note that when the OCC definition is selected an additional column will be displayed called Banking Deserts, which is a part of the new “Underserved” definition from the OCC.
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Peer Totals
When reviewing the Peer results of a Redlining analysis, the “Total Count” column has now been hyperlinked.
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When a user clicks through, they will be able to review the count of each peer for the selected measure ranked in order by the variance. The counts from the current filtered Redlining dataset is also included as a reference. The variance represents the difference between the peer percentage and the data percentage. A negative variance means the peer institution is below the dataset institution.
Note that for any Redlining analysis run prior to this release, a user will need to rerun the analysis in order to view this information.
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Tract List Zip Codes
In the Redlining analysis results, on the tracts list drill down for the Penetration, Volume, Peer, and Market tabs, there is now an option to include Zip Codes. Please note that Zip Code boundaries do not always align with Census Tract boundaries.
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Rerunning an Analysis
We have added additional information to help clarify the “Rerun Analysis” feature in the Fair Lending module. If you change a filter in a model and then re-run a Fair Lending analysis that utilizes that model, a warning will display letting you know that the change to the model’s filter will NOT be reflected in the analysis. To enable the updated filter, the user will have to create and run a New Analysis.
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Penetration Ratios Model
RiskExec has removed the Penetration Ratios model option in Fair Lending. This is because this test is better placed in a Redlining Analysis. Penetration Ratio tests that were created prior to this release will still be available for users to access.
Application, Loan, and Record Lists
The state, county, and MSA names will now appear in any record list in RiskExec along with the codes if the “Include code descriptions” box is checked.
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Find out why a top-ten mortgage lender with a proprietary loan origination system (LOS) needed to convert from a legacy document platform.
Learn more about the Goals Module and its key monitoring and reporting features.
Learn about the changes of state consumer protection and the responsibility of financial services institutions to pursue operational excellence and a culture of compliance.