Understanding Your Fair Lending Risk: Are You a Target?
Recorded June 23, 2015
The mortgage meltdown and foreclosure crisis forced more than a few lenders to rethink the way they make and service mortgage loans. The Consumer Financial Protection Bureau and the Justice Department are aggressively investigating alleged mortgage discrimination, especially using expansive theories of what might constitute “redlining” and general fair lending violations. In fact, many lenders are being asked to explain their mortgage practices either in the context of a regulatory examination or an enforcement investigation.
One new area of fair lending scrutiny is focusing on Home Mortgage Disclosure Act data – who is getting mortgages and who isn’t in a firm’s lending area. Regulators are specifically using the HMDA numbers to compare lenders with their peers as a way to spot disparities that could prompt further investigation. And deeper investigations, whether prompted by data analysis or another trigger, are yielding enforcement actions.
In addition, because of the importance of HMDA data as the raw material of federal fair lending investigations, the CFPB has been pressing mortgage lenders on their HMDA data collection and reporting practices.
For mortgage lenders and servicers, these investigation methods underscore and increase the need to monitor data, complaints, compliance management systems and much more. Listen to “Understanding Your Fair Lending Risk: Are You a Target?” and learn more about the current state of fair lending risk and how you can proactively guard against violations as well as flag-raising data patterns.
You’ll hear from these experts:
- Maurice Jourdain-Earl, Managing Director, ComplianceTech
- Jeffrey Naimon, Partner, BuckleySandler
- Scott Reich, Vice President, Fair and Responsible Banking Manager, Umpqua Bank
Among the questions we’ll answer:
- What are the principal fair lending risks in origination and servicing?
- How is the government expanding what acts – and omissions -- it considers “redlining”?
- What data are regulators monitoring?
- What data should you be monitoring?
- What employee training, testing, and oversight should you be conducting?
- What do you need to know about fair lending and loan origination compensation?
The webinar manual provides a program outline, speaker bios and presentations, and pertinent articles on the subject from Inside Mortgage Finance and our other newsletters.
The recording contains both an integrated audio/video copy of the conference as well as an audio-only version.