On October 21, 2014, the Federal Reserve Board hosted its periodic Outlook Live series webinar, which focused on hot topics in Fair Lending. Presenters from several agencies summarized and shared insights on various areas of focus regarding Fair Lending compliance. Here are some of the main takeaways from the presentation. Fair Lending risk from target [...]
ADI compliance consultants innovate to overcome the challenge of missing ethnicity and race data in a Fair Lending risk assessment. Assessing the Challenge Through the course of a Fair Lending risk analysis, ADI identified an issue with the client’s data that potentially affected the calculation of regression models to assess risk. ADI’s client, a high [...]
Minority homeowners were among the hardest hit during the fallout from the housing bubble. As lenders adjusted their loan products to manage the risks in their portfolios with market interest rates remaining at historic lows, the share of minority mortgage originations shrank while the market shifted from home purchase to refinance mortgages. In this environment, [...]
