Fair Lending Exception Monitoring demo
Pricing exceptions and overrides watched as they happen, with look-alike loans compared side by side. 1:15
What the demo shows
A fair lending solution for compliance teams that compares pricing exceptions to similar loans.
Six agents collect every exception the day it is granted, read its written reason against the evidence, match it to similar loans and plot the quarter on one scatter; the Fair Lending Officer lassos an uneven cluster, sees the loans, reasons and officer behind it, and signs the remediation with the Chief Compliance Officer.
Transcript
- Fair Lending Exception Monitoring compares every pricing exception with what similar loans received for compliance teams.
- Today, exceptions are reviewed a quarter late, and one in nine has no written reason.
- Every rate concession this quarter is a dot, what the loan got, against what similar loans got.
- Overnight, six agents read all 549 reasons and matched every loan to its true peers.
- Dana lassos the cluster in branch 14.
- Concessions 38 basis points smaller for one group and 9 of 11 without a documented reason.
- Eight trace to one officer.
- Its closest match got 40 basis points more on a weaker file.
- Dana signs the remediation, $13,000 back to 11 borrowers before the examiner asks.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.