RiskExec Release Notes - October 16, 2024

October 16, 2024
RiskExec has recently been updated to include the following enhancements: 1071 SBL Module New Field: Quarter Quarter has been added as a new calculated field in the 1071 SBL module. This field will automatically calculate which quarter a loan is in based on the Action Date. CRA Module New Report: Consumer Lending Activity (Number of […]

RiskExec has recently been updated to include the following enhancements:

1071 SBL Module

New Field: Quarter

Quarter has been added as a new calculated field in the 1071 SBL module. This field will automatically calculate which quarter a loan is in based on the Action Date.

CRA Module

New Report: Consumer Lending Activity (Number of Loans and Dollar Volume of Loans)

A new OCC report has been added to the CRA module called Consumer Lending Activity (Number of Loans and Dollar Volume of Loans).

This report displays the number and dollar volume for each Consumer type of loan in the file.

Assessment Area Module

Assessment Area Type Update

The Assessment Area Type options have been updated to include Outside Retail Lending Area - Component Geography. The term “Component Geography” was added to “Outside Retail Lending Area.” In the CRA Final Rule, banks will have one Outside Retail Lending Area composed of component geographies. Component geographies are analogous to facility-based and retail lending assessment areas when performing analysis. 

HMDA Module

New Thresholds for Enhanced Quality Edits

The thresholds for the below Enhanced Quality Edit Checks have been updated to reflect current market conditions:

GV10 - APR value is outside the expected normal values.

  • Old range: 1 to 8
  • New range: 1 to 10

GV21 - Loan Term value is outside the expected normal values. 

  • Old range: 0 to 600
  • New range: 0 to 360

Sign up for news + updates

Expert insights and regulatory updates on RegTech, compliance management, and fair lending.

Recommended Resources

RiskExec Overview

Explore RiskExec's full suite advantages and the many benefits of our flexible, easy-to-use browser-based SaaS solution for all lending portfolios.

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