Charlotte, NC, May 20, 2010 --(PR.com
)-- TruPoint Partners, a provider of compliance solutions to financial institutions, today announced the release of their New Fair Lending Self Assessment Review, an in-depth eight part review of an institution's lending performance.
To introduce banks to the TruPoint Partners comprehensive Self Assessment Review, the company is offering a complementary Fair Lending Price Disparity report to any bank that requests it. The Price Disparity report is one of eight reports contained in the complete Fair Lending Self Assessment Review. The frequency of "rate spread" or "high cost" loans is one of the factors that federal examiners are most heavily scrutinizing in their examinations. This free report will help the lender better understand their risk in this area and is available to any financial institution in the country on request.
The 2010 Fair Lending Self Assessment Review consists of a series of reports and analyses designed to help lenders more easily prepare for the increased scrutiny over Fair Lending practices widely expected in 2010 and 2011. The TruPoint eight part review is a thorough analysis of originations, withdrawn applications, denials, pricing and product mix. The methodology used in the service is similar to the type of statistical analysis that regulators conduct on an institution's data prior to their site visits for the Fair Lending examination.
There are early warnings from bankers and consultants in the industry that this year is not business as usual in Fair Lending. "To read the news today, one would think lending discrimination is rampant and bankers are either discriminatory or incompetent," said Trey Sullivan, President of TruPoint Partners. "Our many years of collecting and analyzing data for this industry tells a different story and it can be backed up statistically through TruPoint's Assessment."
The 2010 Fair Lending Self Assessment Review gives financial institutions insights into their data so they can explain or credibly defend their numbers. By helping them make sense of the trends in their data, TruPoint's Fair Lending Self Assessment reports prepare lenders to quickly and accurately respond to examiner inquiries. "Our experience has shown that most community banks are doing a fine job of serving their communities. With our Fair Lending reports they now have the proof."
To learn more about TruPoint Partners and the New Fair Lending Self Assessment Review please visit http://www.trupointpartners.com/ . To request the Free Price Disparty Index Report please visit http://www.trupointpartners.com/price-disparity-index-report
About TruPoint Partners
TruPoint Partners provides efficient compliance tools and services to over 500 banks and credit unions. TruPoint's Smart Compliancetm solutions give institutions better insight into their data, enabling better management practices and lower risk, guaranteed. TruPoint provides its clients the ability to reduce cost, manage compliance risk, and grow their businesses.