On Wednesday, November 7th, QuestSoft held a webinar on how institutions can enhance their CRA data capture and analysis, as well as what may change in the future as the regulation is reviewed.
The Community Reinvestment Act (CRA) has recently been overshadowed by HMDA changes and regulatory relief activities, but it's coming back into the crosshairs. In 2017, the U.S. Department of the Treasury committed to “comprehensively assess how the CRA could be improved” in a report to the President. In April 2018, Treasury submitted their findings and recommendations to the OCC, FRB, and FDIC. Since that time, the prudential regulators have made public announcements regarding changes to CRA.
These are the key areas of focus:
- Assessment areas – expanded concept of “community”.
- Examination Clarity and Flexibility – establishment of clear criteria for grading CRA loans, investments, and services.
- Examination Process – standardized scheduling, timeliness of evaluations, and consistency in scope for metropolitan and non-metropolitan areas.
- Performance – nexus between CRA and consumer protection, performance evaluation delays, impact of downgraded ratings.
- What will change with the new CRA? Review of the agencies preliminary proposal and how that will affect future lending activities.
Recommended for: Executive Management, CRA Officers, Compliance Professionals, and Operations Personnel.
- Presentation Slides [PDF]
- Webinar Recording [streaming]
If you have any questions about the products or services mentioned in the webinar,
please contact us at (800) 575-4632 option 1, or request more information.
Fill out the form below to gain access to the webinar recording and download materials!
Vice President, Compliance, QuestSoft Corporation
Loretta is a regulatory compliance and risk management executive with over thirty years of experience in the financial services industry. Her most significant area of focus is fair and responsible lending risk management, including compliance management system and program development, qualitative and quantitative risk assessments, data quality management, process mapping, and staff training.
President, QuestSoft Corporation
Leonard has been associated with the mortgage industry for over 30 years, and is the founder of QuestSoft. He is a member of both MBA HMDA and NMLS Mortgage Call Report working groups, and is nationally recognized as a HMDA expert in automated compliance systems and methodology.