Framing Fair Lending Compliance in 2010
Framing Fair Lending Compliance in 2010 - Webcast Series
Get in front of the significant events that are framing fair lending compliance and oversight. Register for this multi-part free webcast series designed to analyze reform and oversight measures outlined in response to the financial crisis. Click here to register for the full series.
As this year unfolds, this series will highlight significant events, actions and regulatory changes. When external forces impact your internal fair lending compliance program, you need to know. Our experts will monitor significant events and fold them into their presentations:
- DOJ fair lending enforcement actions
- The potential elimination of the OTS
- The shape and likelihood of the CFPA
- A possible reduction in the FRB’s supervisory authority
How do these events impact your institution’s 2010 fair lending risk reduction strategy? Register today for this series and hear some responsive best practices ideas.
Series Webcast #1: Recent DOJ Settlements Signal Tougher Fair Lending Enforcement
The Department of Justice has placed renewed emphasis on fair lending enforcement. This presentation will analyze two recent DOJ cases involving alleged fair lending violations in the areas of mortgage and auto lending. We’ll highlight the unfolding direction of the DOJ’s fair lending enforcement activity, including:
Open investigations: 38 open DOJ investigations into accusations of lending discrimination
Loan modifications: DOJ evaluation of loan modification data for signs of any disparate impact on minorities
New DOJ Unit: Recent creation of a new unit to focus on unfair lending to minorities
Hear what our fair lending experts have to say about shaping a responsive fair lending compliance program. Click here to register.
What: Recent DOJ Settlements Signal Tougher Fair Lending Enforcement
Date: Tuesday, March 16
Time: 2:00 – 3:00 P.M. EST
Cost: Free
Register: Click here to register
Solutions to Help Frame Fair Lending Compliance in 2010
Wolters Kluwer Financial Services offers consulting services and solutions to manage fair lending risk. Our fair lending solutions include:
Fair Lending Risk Assessment: This is the process of weighting fair lending risk by each line of business. Our experts will map each product and line of business to governing fair lending rules and regulations and outline the probability of fair lending risk occurring within each product and/or line of business. Our experts will provide a risk assessment matrix to identify areas of fair lending risk with underwriting, marketing, pricing, and management oversight. Clients should conduct a risk assessment early in 2010 to be positioned to strategically concentrate resources in high-risk areas, and satisfy regulatory demand for this type of review.
Fair Lending Risk Review: This is the service formerly known as “risk assessment.” Our experts will conduct a statistical analysis of a lending portfolio with an emphasis on aggregate measures covering all potential areas of fair lending risk including: marketing, redlining, denial rates, above-threshold pricing, difference of means for pricing, steering, and overrides. Regression is used solely for the purpose of identifying outliers (e.g., denied and review applications) and not to directly determine disparate impact. The primary goal of a fair lending risk review is to allow the client to focus their efforts on only the risky areas identified during the review.
Fair Lending Loan Modification Program Review: Using the following four-part approach our experts will evaluate the effectiveness and fairness of your institution’s loan modification program: 1) program review: an evaluation of loan modification policies and procedures with special emphasis on risk identification; 2) sample file review: review of a representative sample of loan modifications completed and loan modifications denied for evidence of disparate treatment and impact; 3) complete portfolio review: a statistical analysis of all completed loan modifications and denied applications comparing applicants’ race, gender, income, census tract, and ability to repay and identifying any outliers; and 4) statistical analysis reports: generate and analyze in-depth statistical reports, emphasizing spatial mapping and focal points.
Fair Lending Litigation Support: Our experts will evaluate the regulator’s statistical analysis of the data underlying any regulatory enforcement action in order to either confirm or refute their findings. This is done through a combination of regression analysis to test for disparate impact through the inclusion of race variables in the regressions and statistical testing and regression analysis and other.
Fair Lending Training: Our experts will provide staff and Board training on all aspects of fair lending compliance. Training can be completed at the client site, remotely via the web, or at our corporate headquarters near Boston.
Fair Lending Technology Solution: Automate fair lending review, analysis and reporting. Our solution provides ongoing fair lending analysis that allows you to easily identify potential risk and immediately remedy unfair lending practices. It automatically performs a full range of risk assessment tasks, so you can devote your resources to developing corrective action instead of looking for elusive problems.
For more information on these solutions call 1-800-261-3111 or click here.
