Asurity Releases SBA Paycheck Protection Program (PPP) Loan Level Data Through RiskExec
Asurity announced on September 30, 2020, the successful integration of the Payment Protection Program (PPP) Loan Level Data from the Treasury Department and the SBA into its RiskExec platform for HMDA, CRA, Fair Lending, Redlining, and Fair Servicing.
RiskExec has downloaded the Payment Protection Program data, converted it, and integrated it into a new PPP Peer set available through its Peer Analysis module. RiskExec customers are now able to construct Peer PPP Groups based on geographies and analyze their own data against peers. This is especially important as the regulators have indicated they will start examining how the lenders handled the PPP money. Moreover, from a public perspective each lender should now look at its own performance in the PPP as compared to its peers so it can construct a narrative of how it helped its own community.
“The PPP shows over 4,900 institutions giving out over 5.2 million loans, of which approximately 4.5 million (over 87%) were less than $150,000 each,” says RiskExec President Dr. Anurag Agarwal. “These small loans total $147 billion.”
Additionally, RiskExec has added many charts, graphs, maps, and reports that are available out of the box to analyze the Peer PPP.
Asurity delivers compliance focused products and solutions to the mortgage lending industry. Asurity’s offerings include RiskExec, a reporting and analytics platform for HMDA, CRA, Redlining, Fair Lending, and Fair Servicing, and AsurityDocs, a leading solution for the dynamic preparation of compliant mortgage document packages. For additional information, please visit www.asurity.com.
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