Fair Lending Scanner
Uncomplicated Mapping of your lending patterns in market, by demographic borrower group, and comparing to peer lenders.
You only have to keep asking questions - HMDAVision delivers the answers.
Document your quantitative analysis inside HMDAVision through our power point builder.
Document your quantitative analysis inside HMDAVision through our power point builder.
Marketing Risk
Use the Redlining / Marketing Risk Analysis sheet to scan in seconds each of your markets for any gaps in applications. You can start at national level to state to MSA to county to census tract.
Are you taking applications in proportion to the population mix in your market?
The upside of this analysis is that you will also identify market growth opportunities.
Quickly repeat triaging for multiple geolocation - e.g. Minority vs Non-Minority census tracts/areas; high-minority census tracts, etc.
Quickly repeat triaging for peers to compare to your own pattern.
Quickly repeat triaging for multiple MSAs or larger/smaller geographies - you control what you want to see.
Quickly repeat triaging for multiple demographic dimensions - Race, Ethnicity, Age, Sex.
Compare application mix to LMI mix.
Compare application mix to population mix.
Analyze applications' penetration by LMI segment.
Analyze applications' penetration by demographic segment.
Redlining
Use the Redlining / Marketing Risk Analysis sheet to scan in seconds each of your markets for any gaps in applications by geography all the way to the census tract. You can start at national level to state to MSA to county to census tract.
Are there any LMI census tracts and/or minority-majority or high-minority areas that are not being served?
The upside of this analysis is that you will also identify opportunities to expand your geographic reach and to hire more diverse sales force and loan originators.
Markets and Peers
If you have not done this analysis, or you want to revisit your existing analysis, use HMDAVision to define your market and identify your peers. Powerful geo location filters allow for both interactivity and precision of targeting. Side-by-side comparisons with the choice of group of peers, or a named peer, allow for immediate comparison of lending patterns in market at census tract level all the way to national level, and in context of borrower, product, and property type.
Peer Benchmarking
Do you have fewer applications from majority-minority and high-minority neighborhoods relative to peer lenders?
Benchmarking at every stage of the application loan life cycle.
How does your underwriting outcomes compare to your peer in majority-minority and high-minority neighborhoods, to LMI, and to minority population?
How do your applications stack up against your peers in majority minority areas? Or originations, or approved but not accepted loan offers? Or withdrawn applications?
Reverse Redlining
Perform quick analysis of each of your markets to see if you are originating loans with unfavorable terms (e.g. higher interest rates and fees) to protected-class borrowers.
Reverse redlining analysis is looking for red flags resulting from lending patterns to protected classes - e.g. higher - priced loans.
Underwriting
What are the denial rates and how do they compare by protected-class applicants/borrowers?
The upside of this analysis is that you will also identify opportunities to expand your loan product suite, perhaps even evaluate SPCP feasibility.
Explore the impact of Credit Score Model used and AUS used to underwrite (deny) applications by demographic group.
Explore the denial reasons for the geography and for each protected class.
Go beyond denial rate and evaluate the odds ratio that measures the likelihood that an application from a protected class will be denied more often than an application from the non-protected class (e.g. Non-Hispanic White).
Use the Denial/Underwriting sheet to perform instant analysis of your (and your peers) denial patterns in specific geography.
Deep dive into outcomes of underwriting - denials, denial rates, denial reasons by protected-class, geography, product, lender, credit score model, AUS, and many more.
