Explore RiskExec's Fair Lending module and assess your institution's risk for disparate treatment, disparate impact, steering, and/or redlining.
In March of 2017, legal firm Buckley Sandler covered the CFPB’s record-breaking HMDA fine against a nonbank mortgage lender. The fine, which totaled $1.75 million, was levied because of what the Bureau alleged was “(i) a failure to ‘maintain detailed HMDA data collection and validation procedures’; (ii) a failure to ‘implement adequate compliance procedures’; and (iii) a failure to ‘consistently define data among its various lines of business,’ which resulted in data discrepancies.”
Read the full article from Buckley Sandler to learn more about the largest HMDA fine that the Bureau has ever levied against a nonbank mortgage lender.
Explore RiskExec's Fair Lending module and assess your institution's risk for disparate treatment, disparate impact, steering, and/or redlining.
Explore RiskExec's Fair Lending module and assess your institution's risk for disparate treatment, disparate impact, steering, and/or redlining.
Learn more about RiskExec's Fair Servicing module by downloading this short 2-pager.