RiskExec has completed its SOC1 Type 2 report for the period of May 1, 2019, to April 2020. This report provides RiskExec’s description of systems, the suitability of the design, and operating effectiveness of controls. If you wish to review this report, please reach out to our support team at email@example.com for a copy of the final report.
HMDA and CRA
RiskExec has made a few enhancements to the application list functionality that is found within the HMDA and CRA modules. Users are now able to select the checkbox, “Select Applications,” to allow a user to run batch operations on selected applications rather than the full list of applications provided in the HMDA or CRA application list.
A user is now able to select the Assessment Area field to include in the Report Format in an HMDA and CRA Application List.
Additionally, RiskExec has added the option to include the Edit Check list field that will showcase all edit checks flagged within an application to include in the Report Format.
A new export format has been added to the HMDA and CRA modules that exports full data from RiskExec (this is similar to the existing Full Data Export Format). This new export format will provide the properly formatted values for NA, Exempt, etc, rather than providing the raw data.
A new report called MSA Income Range by LMI has been added to both the Assessment Area and Assessment Area Unit options within the Assessment Area/REMA module. This report will show the income range by LMI for each MSA in an assessment area or a unit.
The Redlining module has been updated to include percent Asian (% Asian) as a Redlining measure. This measure can be applied to each Factor that was selected when setting up a new Redlining analysis.
When a user downloads a Fair Lending Analysis report, the report name will now include the date and time the analysis was run and the name of the user that ran it.
In the Decisioning Regression models, the following new Model Fit measures have been added to the Logistic Model Output screens:
- AIC (Akaike Information Criterion) is a measure of the quality of a model and can be used to determine which model fits the best. (https://en.wikipedia.org/wiki/Akaike_information_criterion)
- AUC (Area Under ROC) which is a measure of the Receiver Operating Curve and is used to measure the quality of the concordance matrix. (https://en.wikipedia.org/wiki/Receiver_operating_characteristic)
In addition to Log-Likelihood, these new measures can be used to determine how good the user-specified model is and if the factors fit the data in the run.
Lastly, the dynamic import function will now detect, parse, and properly import a tab-delimited text file.