Assess whether a redlining pattern exists after controls (06c6d0)

Situation

A mortgage company after a pricing-regression spike cannot treat a DOJ or CFPB monitor request for pricing files as color commentary on SPCP written plan versus actual originations. Community-development lender must close a redlining pattern exists from that extract under Fair Lending / Redlining and HMDA Data.

Decision

Community-development lender in a mortgage company after a pricing-regression spike must choose Remove access or reverse the item / Temporary compensating control / Approve a documented exception / Hold using SPCP written plan versus actual originations after a DOJ or CFPB monitor request for pricing files.

Hypotheses to test

• Authorize Remove access or reverse the item now; SPCP written plan versus actual originations already has the discriminator after a DOJ or CFPB monitor request for pricing files.
• Keep Temporary compensating control in force until SPCP written plan versus actual originations is completed after a DOJ or CFPB monitor request for pricing files for community-development lender.
• Treat SPCP written plan versus actual originations as Approve a documented exception because both readings appear after a DOJ or CFPB monitor request for pricing files.
• Refuse a Fair Lending close: community-development lender does not have the page a redlining pattern exists turns on in SPCP written plan versus actual originations.

Analysis required

• Match the adverse-action language to the facts in SPCP written plan versus actual originations.
• Check HMDA coding and underwriting policy against a redlining pattern exists.
• Compare SPCP written plan versus actual originations to similarly situated files, second-review notes, and reason codes after a DOJ or CFPB monitor request for pricing files.
• For this Fair Lending Redlining and HMDA Data file, read SPCP written plan versus actual originations against a DOJ or CFPB monitor request for pricing files and write the one fact that would move a redlining pattern exists for community-development lender.

Recommendation

Choose Remove access or reverse the item / Temporary compensating control / Approve a documented exception / Hold on this Fair Lending / Redlining and HMDA Data packet (SPCP written plan versus actual originations after a DOJ or CFPB monitor request for pricing files). The follow-on Redlining and HMDA Data action is what community-development lender does next: implement the option, assign an owner, and log the missing fact.