COMPLY FAIR LENDING
Fair Lending Specific Features
Period Reviews
In order to perform a Fair Lending review, you must use a “snapshot” of your data. Because you are explaining statistically significant disparities in your data, you need to be able to reproduce the numbers and if you are modifying the data that would be impossible. So Comply Fair Lending allows you to create multiple Period Reviews of your data. Once the data for a Period Review has been imported, updated and validated to be complete, the Period Review will be locked and Analysis can be performed. You can have as many Period reviews for a Reporting Entity or Year that you need.
Quick Review
Once your Period Review is complete and ready, you can run a Quick Review in Comply Fair Lending. The Quick Review will basically walk you through choosing the Risk Factors you want to analyze create the appropriate filters and break downs as specified in the FFIEC Examination Procedures then run the Scorecards on the selected Risk Factors by all eleven of the Prohibited Basis Categories. All of the results will be displayed in RATA’s proprietary Tree View and color-coded by potential risk.
Data Mining
Because Scorecards can be run at any level, some categories will contain too many applications to deal with properly. At that point you will want to drill down the data to isolate and categorize applications that are similar. The Data Mine Wizard will walk you through grouping your data, thus creating multiple filter groups and then running the selected Scorecards automatically on the new subsets of data. You can drill down as many times as you need to get to the desired record set.
Scorecards
By default, the Scorecards in Comply Fair Lending will break your data down by Loan Purpose across the X axis and will show the Prohibited Basis Categories down the Y axis. Any statistically significant disparities will be displayed by a color code depicting the associated risk for easy identification. The Comparative File Review Wizard can be accessed by any risk cell at any time!
Comparative File Review
Once you have “Data Mined” down to your desired record set and your number of applications is reasonable, then you can perform the Comparative File Review. In the Comparative File Review Wizard you will define your Match Factors, Similarity Factors and additional filters to display the pairs you wish to compare. During the review, you will be able to add notes on a field by field basis, Prohibited and Non-Prohibited App basis, for the Pair and the overall File Review. You will also be able to assign each pair into a category.
Executive Summaries
The Executive Summary Builder will basically accumulate all of the Information from your Comparative File Review and prepare a document that illustrates how you got to the data set, what Scorecard was used, how many pairs were reviewed with applicable notes and your overall file review notes.
