Fair lending compliance is essential to your business. There are some options that you can choose to help you maintain fair lending practices. Fair lending software is an ideal way to provide you with the tools you need to properly manage fair lending practices and adhere to regulations. We offer two main types of fair lending software including Lending Patterns™ and Fair Lending Magic™.
Leading Fair Lending Software
Lending Patterns™ is exciting web-based software that allows you to explore and analyze millions of loan applications for thousands of lenders to create custom reports. You will have access to a huge amount of database that gives you the opportunity to produce high quality reports on various aspects of the lending industry.
This is the only HMDA data mining tool that puts years of loan transaction information at your disposal. You will be able to view data that gives you valuable information about lenders and borrowers as well as the markets and locations. Queries bring you lending patterns in just several minutes.
You will have access to data that you can use in a variety of ways to improve your business and at the same time make sure that you are utilizing fair lending practices. The software is extremely powerful and provides you with data that is relevant and important.
Fair Lending Magic™ includes a complete suite of fair lending statistical analytical tools that include models that can be used for underwriting and pricing. There is no software to maintain on your site since it is completely managed from the cloud. The fair lending software includes many tools that will help with risk assessment including redlining risk, underwriting risk, pricing risk, CRA fair lending risk, steering risk, peer analysis and comparative and transactional file review.
In addition, the software features HMDA-LAR preparation that allows you to build and verify loan application registers from scratch. This software is extremely versatile and a single tool allows it to be used for consumer and business, automotive and mortgages and other types of lending.
Software allows you to dive deeply into lending data so you can uncover lending opportunities and locate impediments and compliance failure risk information. Software will reduce the risk and make compliance easier and more efficient. You can try our exclusive Lending Patterns Lite™ free of charge to see first-hand the types of information you can obtain with our software.
Our software solutions are utilized by a wide range of clients including large financial institutions as well as credit unions, community banks and non-profit organizations and bank regulators. You can view a demo of our software products online to get a good visual of how the software works.
At ComplianceTech we offer a variety of fair lending compliance options. We realize that all lenders are not alike and that standardized approaches won’t be beneficial. That is why we offer customized approaches to each client and will provide for your specific needs. Our powerful fair lending software options are just part of the solutions that we offer.
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