RiskExec has recently been updated to include the following enhancements:
2022 HMDA Peer Data and Other Updated Data in RiskExec
On June 29, 2023, the CFPB released the 2022 HMDA Peer National Snapshot. Our team has downloaded, converted, and reviewed the data. It is now available in RiskExec for immediate use. It consists of submissions from 4,460 institutions totaling over 16 million records.
Note, that as in previous years, the data was redacted before it was made public. It is published by the CFPB and continues to evolve as institutions resubmit their data. As such, the public data is subject to change and the following items should be taken into consideration when using this data for any analysis:
Additionally, the Distressed and Underserved report and data has been updated with the 2023 designations from data provided by the FFIEC.
RiskExec Reports
Fair Lending Module
In the Marketing Report of the Fair Lending module, users are now able to dynamically set arbitrary significance numbers to "Highlight Values Above or Equal to <enter number> or Highlight Values Below or Equal to <enter number>." To do so, the user will click on the downward arrow in the vs. Demographic column(s). From there, the user will set the values by entering the number in the blank tab. In the example below, the user wanted to “Highlight Values Above or Equal to 5.” You will see that reflected in the dropdown as well as the footnote of the report.
HMDA and CRA Reports
The Branch List report found under HMDA and CRA Executive reports has been updated so that the county, MSA, and Assessment Areas are listed out in individual columns. This allows the data to be sorted, filtered, and exported in a more efficient manner.
HMDA Reports
RiskExec has updated the footnote of the HMDA Disposition Summary found under Executive Reports in the HMDA module. The footnote now clarifies that the report only uses records with loan actions 1 through 5.
Assessment Area Module Reports
The Assessment Area Set Summary Report has been revamped to now include a breakdown of the total population and percentage of population that a group makes up. The total population has been updated for all groups provided in this report except for Sex. Because the FFIEC uses ACS as the source for the counts by sex and age, and Decennial Census for the tract population, the sex and age counts may not sum to the total population.
Miscellaneous
RiskExec’s Help Center has been updated with new articles that allow you to download an Excel spreadsheet of all RiskExec Field Calculations, Codes, and their Descriptions. Each module is on a separate sheet. Click here to access the new articles (you will need to be logged into RiskExec):
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.
Regulatory and technology experts discuss innovation, CRA reforms, and how single-close construction loans are reenergizing rural America.
