Find out why a top-ten mortgage lender with a proprietary loan origination system (LOS) needed to convert from a legacy document platform.
RiskExec has recently been updated to include the following enhancements:
2022 Dunn & Bradstreet Data Now Available
The Dunn & Bradstreet Business counts data for 2022 has been released and is now available in RiskExec.
Fair Lending Module
Protected Class Variables
Users now have the ability to specify the protected classes to be evaluated in the analysis results of any 2-Factor Proportions Test model. Selecting these variables will limit the analysis results screen to only those classes included.
Default variables can be set up under the Protected Class Variables tab under the Models menu in the Fair Lending module.
Protected Class Variables for the 2-Factor Proportions Test can still be modified when setting up an analysis. During analysis setup, users will see the newly set defaults for new models (or previous defaults for pre-existing models) and can choose to add or remove various protected classes.
The Analysis Results of any analyses using new and/or updated models will have a Test Results tab that is limited to only the included Protected Class Variables.
Redlining Module
Analysis Results
Gray shading has been added to the Penetration tab and Volume tab of the analysis results where there are no lending opportunities due to the tract count being zero (0).
HMDA & CRA Modules
Branch List Report
A search bar has been added to this General report to allow users to filter for certain locations. The report can be filtered by location name, address, and location type.
Record Count in Record Detail Screen
When viewing the record detail screen, the record number out of the total records will now be displayed.
HMDA Module
New Enhanced Quality Edit Check
Edit check G306 has been added to the HMDA module. This edit will be triggered when the Syntactical edit check S306 is triggered, in order to provide the user with the list of duplicate ULIs.
S306 - A duplicate ULI has been reported. Please review and update your file accordingly. If Action Taken equals 1, a duplicate ULI cannot be reported.
G306 - Regulatory File Level S306 is being raised - this is the detail of the duplicate ULIs.
Assessment Area Module
Tracts List Report
Users can now choose which code type they want to see when viewing the Tracts List Report.
Geocoding
Geocoding Results
When viewing the geocoding results for a file or dataset, the Loan Action column will now display the loan action code, along with the code description.
Miscellaneous
New RiskExec Core Fields
As announced by the FHFA, it will be a requirement starting on March 1, 2023, to have Language Preference added to the Supplemental Customer Information Form (SCIF). RiskExec will be enhanced in the next few releases to add these options for HMDA and for the new soon to be released RiskExec 1071 Small Business module. It is recommended that Users NOT add any such user defined variables to RiskExec as these fields will be provided as RiskExec core fields soon. Click here to learn more: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Mandatory-Use-of-the-Supplemental-Consumer-Information-Form.aspx
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.