Chicago Mortgage

Low-Cost Solution Helps Institutions Proactively Prepare for Regulatory Examinations

CHARLOTTE, N.C. (MMD Newswire) February 12, 2010 - TruPoint Partners today announced the launch of a new Fair Lending Compliance Assessment Report, a simple and cost-effective solution that helps institutions better manage their lending processes and compliance risks. TruPoint Partners Fair Lending Self Assessment Report is used by institutions to evaluate their Fair Lending practices by race, gender, income and census demographics. Designed to mirror the criteria that federal examiners use the TruPoint Partners Fair Lending Assessment gives institutions deeper insights into their data, so they are better prepared to respond to examiners in a timely and comprehensive manner.

"With increased scrutiny by regulators, bankers are under more pressure than ever. Our new Fair Lending Assessment simplifies the compliance tasks, and provides bankers with an easy to read analysis showing their lending activity from every angle," says Trey Sullivan, TruPoint Partners CEO. "By proactively preparing the lender, no longer do they have to wonder how their lending will be perceived by the examiners."

The TruPoint Fair Lending Assessment Report includes performance indexes that make it easy to identify outstanding performance and also areas that may require closer review. These indexes measure disparity in originations, denials, loans that "fall-out" or withdraw from underwriting, in addition to reviewing pricing patterns between different sectors of the community. "Our Fair Lending reports are designed as a self-assessment tool that allows bankers to take control of this process at a reasonable price," states Sullivan.

In August the Federal Reserve Board released a letter outlining revised examination procedures for Fair Lending, and announcing the expansion of risk factors evaluated from 49 to 55. The TruPoint Fair Lending Assessment can be used by institutions to run a test of their data against the new Fair Lending guidelines to see where they might have risk. To request a sample report contact TruPoint Partners at 803-547-0082 or http://www.trupointpartners.com/fair-lending-report.html .

About TruPoint Partners
TruPoint Partners provides innovative, and efficient compliance tools and services to over 500 banks, mortgage companies and credit unions. TruPoint's Smart Compliance (tm) solutions give institutions better insight into their data, enabling better management practices and lower risk, guaranteed. To learn more about TruPoint Partners Lending Compliance solutions please visit http://www.TruPointPartners.com

Contact:
Justin Smith
803-547-0082 ext 205
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