RiskExec's Breakout Year in 2020
Over the course of the year, RiskExec platform users expanded by over 30%.
WASHINGTON, March 1, 2021 /PRNewswire/ -- Asurity announces a year of unprecedented growth for RiskExec, a comprehensive web-based compliance reporting and analysis platform that automates HMDA, CRA, redlining, and fair lending processes. RiskExec's innovative and rapid response during this unprecedented year brought clarity to complex challenges and put powerful tools in the hands of the industry's biggest players as they navigated change.
Over the course of the year, RiskExec platform users expanded by over 30%. The nearly 800 active users represent:
- 6 banks with over $100B in assets
- Two new top 10 mortgage lenders by volume
- We now serve 40% of the top 50 lenders
In 2020, RiskExec processed 40% of the nationwide HMDA loan application records in its HMDA/CRA module, providing executive and regulatory reporting for the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), and fair lending compliance requirements.
RiskExec launched the industry's first dedicated Fair Servicing module in August. Loan servicing practices are becoming ever more critical in the world of COVID-19 loan forbearance and modification. To aid lenders and loan servicers in navigating these challenges, RiskExec's cutting-edge Fair Servicing compliance module is specially configured to help lenders and servicers manage complex loan forbearances and modifications authorized under the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act.
In September, RiskExec announced the successful integration of the Payment Protection Program (PPP) Loan Level Data from the Treasury Department and the SBA into its RiskExec platform Peer Analysis module. RiskExec customers are now able to construct Peer PPP Groups based on geographies and analyze their own data against peers. This opportunity to compare impact with peer institutions is especially important as regulators have indicated they will soon start examining how lenders handled PPP funds.
"RiskExec's solutions led the field in 2020, but compliance was always just the beginning," said Luke Wimer, Chief Operating Officer at Asurity, "bringing unparalleled value to clients and the industry, staying responsive to changing needs in real-time ensures our clients succeed in advancing equity across communities they serve."
For additional information regarding Asurity and RiskExec, please visit www.asurity.com.
About Asurity
Asurity delivers compliance-focused products and solutions to the mortgage lending industry. Asurity's offerings include RiskExec, a reporting, and analytics platform for HMDA, CRA, redlining, fair lending, and fair servicing, and AsurityDocs, a leading solution for the dynamic preparation of compliant mortgage document packages. For additional information, please visit www.asurity.com.
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SOURCE Asurity
