Contact Us

FFIEC Geocoder Update

RiskExec has recently been updated to include the following enhancements.

FFIEC Geocoding

RiskExec has recently updated the process by which it compares its geocoder results to the FFIEC’s geocoder results. This is a significant change to the prior year’s process and must be completed before a 2020 Submission.

In the past, RiskExec has performed an automated process that ran the addresses from each current year HMDA or CRA file through the FFIEC geocoder (https://geomap.ffiec.gov/FFIECGeocMap/GeocodeMap1.aspx). This process would then record and update all RiskExec records where the FFIEC geocodes were different from the RiskExec geocodes. The old process did NOT verify that the FFIEC geocode was correct and we have found this to be a problem. When reviewing the FFIEC results this year, RiskExec found many instances where the FFIEC geocode results were incorrect. Therefore, RiskExec decided to not move forward with the old process and have developed a new process allowing users to review and choose whether to accept and update their results for their 2020 submission files.

With appropriate permissions, a new button named “FFIEC Geocoding” will appear in the left-hand side menu under “Geocoding/ Maps.”  This is a new user permission.  To gain access to the FFIEC Geocoding tab, the Primary User must submit a request to riskexec.support@asurity.com

FFIEC Geocoding tab

To start using the “FFIEC Geocoding” tab, your file’s geocoding must be current.  If your geocoding is NOT current you will not be able to proceed.

A file's geocoding status must be current to use FFIEC Geocoding

Once the file’s geocoding is current, a user can select “FFIEC Geocoding,” and the following information will be displayed:

  • The record has currently been geocoded by RiskExec or was manually geocoded by a user.  The current geocode’s FIPS (i.e. State/County/Tract) differs from what the FFIEC is currently showing for the same address.

Or

  • The record was unable to be geocoded by RiskExec and the FFIEC shows a geocode for the address.

To further explain FFIEC Geocoding, please review the screenshot below: 

Please pay careful attention to records where the address is highlighted in a color as these are cases where the FFIEC has significantly changed the data and the user needs to decide if the geocode is correct or incorrect.  The address column displays an address of a record provided to RiskExec. The columns under “FFIEC Geocoder” show the FFIEC Geocoder results. The column under “RiskExec Geocode” displays the results from the RiskExec geocoder.  For example, the RiskExec geocoder results were 1 Oxford Center, Pittsburgh, PA, 15205.   The FFIEC geocoder results were 1 Oxford CTR, Pittsburgh, PA 15219. However, as highlighted by the colors, a user will note that the street name, zip code, and tracts differ. A user needs to decide if they should keep the results from the RiskExec geocoder or choose the FFIEC geocoder results.

Once you have reviewed the records, use the left-hand side checkboxes to select which of these you would like to accept from the FFIEC. Then click on the button at the bottom right of the screen, “Use Selected FFIEC Geocodes” to update.

A confirmation box will pop up and indicate how many records you are updating to the FFIEC geocoding results.

Once a user clicks the “Use Selected FFIEC Geocodes” button and saves the selections, the FFIEC geocode will be stored for those records.  A user will also note that their geocoding results are no longer current and will need to geocode the entire file to update their new geocoded results.

When a user selects and saves FFIEC geocodes, their file’s geocoding is no longer current

Going forward, all geocodes for those exact addresses (street/city/state/zip code) will use the stored FFIEC geocodes. The Geocoding Method will be set to FFIEC, and the Geocoding Type will be FFIEC. Once an FFIEC geocode is stored, it will be stored in both the HMDA and CRA modules. For example, if a record is updated to match the most recent FFIEC geocode in HMDA, and a loan in CRA contains the exact same street/city/state/zip code, the FFIEC geocode will be applied to that CRA loan the next time geocoding is run on that loan.

The Geocoding Method and type will be FFIEC and will be stored in both HMDA and CRA

Sign up for news + updates

Expert insights and regulatory updates on RegTech, compliance management, and fair lending.
[piotnetforms id=3756]

Questions? Comments?

Contact RiskExec customer support at riskexec.support@asurity.com.

Anurag Agarwal, PhD

President, RiskExec

Recommended Resources

Goals Module Overview

Learn more about the Goals Module and its key monitoring and reporting features.

Reg+Tech Magazine Volume 2 Issue 1

Learn about the changes of state consumer protection and the responsibility of financial services institutions to pursue operational excellence and a culture of compliance.

Reg+Tech Magazine Vol. 1 Issue 2

Regulatory and technology experts discuss innovation, CRA reforms, and how single-close construction loans are reenergizing rural America.

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram