Aligning Fair Lending Testing with Why Consumers Withdraw their Mortgage Applications
Banks and non-depository mortgage companies engage ADI to evaluate Fair Lending risk relative to consumer outcomes from their underwriting activities. We endeavor to align our solutions with the reasons consumers withdraw prior to an approval/denial decision based on the merits. In the past several years, the proportion of non-approved HMDA-reported applications that were denied based on review of an applicant’s credit [...]
