Fair lending laws ensure the fair and equitable treatment of borrowers. Financial institutions face intense scrutiny to ensure that their lending policies adhere to fair lending regulations. Young & Associates offers fair lending risk assessment reviews and fair lending risk assessment facilitation.
A fair lending review will help ensure compliance with the Equal Credit Opportunity Act (ECOA) and Federal Housing Act (FHA). These regulations were put in place to avoid discrimination in the mortgage industry.
Is your institution confident in your fair lending compliance? Young & Associates offers a team of banking experts, with years of experience, to perform fair lending analysis. We can help ensure that your institution adheres to all fair lending regulations.
Complete Fair Lending Review
Fair lending reviews from Young & Associates are modeled after the fair lending examination procedures issued by the federal regulatory agencies.
When you work with Young & Associates, you’ll get exactly what you need for your specific organization. Our reviews are fully customizable to meet the needs of your financial institution based on regulatory requirements, asset size, and the complexity of your organization.
The fair lending review process typically includes:
- A loan policy review
- A comparison of loan officer questionnaires regarding their underwriting practices
- A comparative file analysis
- An adverse action review or a consumer loan pricing review
Through our fair lending analysis, we can help your financial institution manage all fair lending risks. As part of this risk assessment, our compliance professionals will also review approval policies, advertising policies and procedures, and training records.
Avoid Fair Lending Risks
By working with Young & Associates, you can ensure fair lending compliance and help protect your financial institution’s success. We’re regulatory compliance experts, with a team of consultants who have years of experience in the financial industry.