RiskExec has recently been updated to include the following enhancements:
2024 HMDA Filing Instructions Guide and Supplemental Guide for Quarterly Filers
The 2024 HMDA FIG has been released and is available in the Help Center by clicking here. RiskExec will be implementing all changes to the Edit Checks in future releases. There are currently no noted Geography changes, but it is anticipated that the new MSA/Counties could be implemented for 2024 submission.
RiskExec Connect 2023
Join us for the next RiskExec Connect virtual conference on November 1, 2023. Users can now register by clicking the link on the RiskExec home page. Please note that the conference is free to all attendees.
Fair Lending and Redlining Modules
Ability to Transfer Data Between Redlining and Fair Lending Modules
Users can now create datasets in the Fair Lending module from existing Redlining datasets, as well as create datasets in the Redlining Analysis module from existing Fair Lending datasets. In the Fair Lending module, click on New Dataset and select RiskExec File From Another Module as the data source. Select RiskExec Redlining Dataset as the RiskExec Module and then choose the type of data you are going to bring over such as CRA, HMDA, etc. from the options listed under the sub module tab.
Once you have made your selections, you will use the Dynamic Import Wizard to import the dataset.
In Redlining, click on New Dataset. The data source will be Other RiskExec Module. The RiskExec Module will be RiskExec Fair Lending Dataset and the Sub Module will be the type of data you are going to bring over (CRA, HMDA, etc.) In the example below, the user chose a HMDA dataset to bring over from the Fair Lending module. Click Create Dataset to begin the Dynamic Import process.
Dynamic Import Wizard
Map a Single Source Field to Multiple RiskExec Fields
Users can now map one source field to multiple RiskExec fields in the Dynamic Import Wizard. To do so, check the box labeled Map Source Field to Multiple RiskExec Fields at the top of the Source Fields list on the Map Fields screen.
For example, in the CRA module, a user may want to save the full loan amount in a user-defined field, as well as import it into the RiskExec field where it is rounded to the 1000’s. In the image below, the loanamt source field was mapped to the Loan Amount RiskExec field and the Full Loan Amount RiskExec user-defined field.
Import 11 Digit Geocodes
Users are now able to import 11 digit Geocoding/FIPS codes into RiskExec. This is made possible by the new functionality that allows users to map the same field from their source data file to multiple RiskExec fields.
In the example below, the 11 digit FIPS code is in a field in the source data file called FIPS Code. By checking the box labeled Map Source Field to Multiple RiskExec Fields on the Map fields screen, the user is able to map that FIPS Code source field to the Geocoded State, County, and Tract fields in RiskExec.
RiskExec will then break up the field and map the data to the correct RiskExec fields.
Fair Lending Module
Decisioning Regression Summaries: Model Agreement
Users can select multiple analyses of a similar type (i.e. all Decision Regression or all Pricing Regressions) by Clicking Shift+Left Mouse. This will then allow the user to use the Summary Option and produce a downloadable report of the Regression results.
Model Agreement has now been added to the Decisioning Regression Summary report. This new column allows users to review and compare model performance across multiple analyses without accessing each individual analysis results.
CRA Module
Community Development Lending By Purpose Categories
A new report has been added to the CRA module under Executive reports called Community Development Lending By Purpose Categories. This report provides a volume breakdown by Community Development Purpose category for Community Development lending.
1071 SBL Module
Race and Ethnicity Codes Update
The below code changes have been made in accordance with the August 17th updates to the 2024 Filing Instructions Guide (FIG).
For race, the Native Hawaiian or Other Pacific Islander sub codes were reordered:
Previous codes:
Current Codes:
For ethnicity, the Hispanic sub codes were reordered:
Previous codes:
Current Codes:
Data Validation IDs
The Data Validation IDs have been incorporated into the 1071 SBL module.
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.
