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Fair Lending Compliance: Intelligence and Implications for Credit Risk Management
By: C. R. Abrahams , Mingyuan ZhangeBook Publisher: John Wiley & Sons
Imprint: John Wiley & Sons, Inc.
Format: Adobe Encrypted (DRM)
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This book shows what's involved in building and running an effective enterprise fair-lending self-testing program. It clearly illustrates the nature and importance of the interdependency between HMDA/fair lending compliance and credit risk management, and also demonstrates the need for development of proper risk measurement and feedback mechanisms and continuous monitoring to ensure fair lending compliance and accurate credit risk evaluation.
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| Title of Business & Economics eBook: Fair Lending Compliance: Intelligence and Implications for Credit Risk Management | |
| Release Date: 03-14-2008 | |
| Publisher: John Wiley & Sons, Inc. |
This eBook download is available in the following formats:
| Parent title | Fair Lending Compliance:... |
|---|---|
| Encrypted (DRM) | Yes |
| SKU | 9780470241899 |
| File size | 2520 |
| Security | n/a |
| Printing | Not allowed |
| Copying | Not allowed |
| Read aloud | No Sys requirements Download reader |
| Devices | Samsung Tablet, Apple Ipad & Iphone, Barnes & Noble Nook, Kobo eReader, Aluratek Libre, Iliad, Nokia, Blackberry, Hanlin |
| Note | Excellent navigation features are available via Adobe such as bookmarks and a quick access table of contents. Text search is easily accessible. An Adobe DRM-protected file is different than a pdf file in that it uses Adobe DRM (Digital Rights Management) technology, which authors and publishers use to protect their content from illegal online distribution and to set certain privileges such as restrictions on copying and printing. |
Fair Lending Compliance: Intelligence and Implications for Credit Risk Management
Chapter One
Credit Access and Credit Risk
Understanding the connection between credit access and credit risk is the key to developing a new generation of models and processes that preserve safe and sound lending while promoting inclusiveness in the credit market. In this book, a chief goal is to explore the overlap between fair lending and credit risk in order for lenders to provide greater and more affordable access to credit while operating within acceptable risk/return thresholds. Specifically, we can describe each of these two credit-related areas and their connection as follows:
Credit access. There are laws and regulations in place that are aimed at ensuring and monitoring fair access to credit. Those laws and regulations spell out specific protected classes of consumers whose class membership cannot be considered as a factor in the lending process. Financial institutions have fair lending programs that are designed to help avoid any violations of those laws and regulations. The main thrust of a fair lending compliance program is to find and fix problems associated with credit access and to effectively communicate performance to stakeholders in order to avoid or correct any misperceptions about the institution's lending performance.
Credit risk. Regulators conduct periodic safety and soundness exams to review bank underwriting standards, among other things. Lenders have credit policies that spell out those standards, which reflect the institution's actual loan default experience and best judgment to ensure profitable, safe, and sound lending. When it comes
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