RiskExec Release Notes - March 5, 2023

March 5, 2023
RiskExec has recently been updated to include the following enhancements: 1071 Small Business Lending Module Now Available in RiskExec  RiskExec has launched its new 1071 Small Business Lending module (preliminary and based on the NPRM guidance) to enable users to prepare their 1071 Small Business Lending data for submission.  With the new RiskExec 1071 module, […]

RiskExec has recently been updated to include the following enhancements:


1071 Small Business Lending Module Now Available in RiskExec 

RiskExec has launched its new 1071 Small Business Lending module (preliminary and based on the NPRM guidance) to enable users to prepare their 1071 Small Business Lending data for submission. 


With the new RiskExec 1071 module, users will be able to upload, import, and scrub their data.  Additionally, they will be able to geocode and run reports on their 1071 files in preparation for submission.  Please note, the CFPB has not released edit checks for 1071 (https://www.consumerfinance.gov/1071-rule/), so users will not be able to run edit checks on their 1071 data. When the edit checks are released, the 1071 module will be updated to allow users to run edit checks on their 1071 files.

Please reach out to Chris Gray at cgray@asurity.com for pricing information of RiskExec's 1071 Small Business Lending module. 

HMDA Module

Congratulations to all our users for having successfully navigated another year of submissions. It is now time to start focusing on 2023 data. RiskExec has been updated so the default year for all files will now be 2023. In addition, the CFPB released updates to 2023 edit checks.  There has been a change to the following edit dhecks: V719 and S307 (which applies to quarterly filers).  These updates have been deployed to RiskExec. Click here to learn more: https://ffiec.cfpb.gov/documentation/2023/fig/

Supplemental Customer Information Form (SCIF) Fields

As announced by the FHFA, as of March 1, 2023,  it is required to have Language Preference added to the Supplemental Customer Information Form (SCIF). Click here to learn more: https://sf.freddiemac.com/content/_assets/resources/pdf/forms/scif-form-1103-english.pdf

The RiskExec HMDA module has been enhanced with a new tab on the Application Detail page labeled SCIF.  This tab contains the new required fields as well as fields for both Applicant and Co-Applicant Language Proficiency. The codes for these fields use the same values as the Limited English Proficiency fields in the census data. The data that can be entered in this form is voluntary and for internal analytics purposes, it is currently NOT a part of any HMDA data submission to the CFPB.

Peer Analysis Module

National HMDA Disparity Indices Report

Users can now run a Disparity Indices report on National HMDA Peer Sets. 

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