RiskExec has recently been updated to include the following enhancements:
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.
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 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.
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.
GV21 - Loan Term value is outside the expected normal values.
