MAPLE LAWN, Md.--(BUSINESS WIRE)--Strategic Compliance Partners (SCP) has retained Offit Kurman and Risk Management Solutions, Inc. (“RMS”) to assist in conducting a fair lending regression analysis unlike any other program available today. At a flat fee cost, SCP will be able to deliver an underwriting and pricing regression analysis to lenders, the results of which will be analyzed and interpreted by legal counsel and communicated in a manner subject to the attorney-client privilege. Further, upon consideration of the legal analysis, SCP will review and implement fair lending protocols, policies, and procedures, and review implementation thereof for a period of six months. The total cost of SCP’s fair lending package is designed to be readily affordable to lenders of all sizes; in fact, the total package -- including the legal interpretation and policy review and remediation -- is typically half the cost of most regression analyses that are currently available to lenders.
Ginger Bell, SCP’s Director of Sales, stated, “We have always seen the need for community based lenders to have access to regression analysis and legal interpretations of these reports. Unfortunately, it was not viable for smaller lenders to access such services due to the cost. Now, lenders of all sizes can afford to include this essential service in their compliance infrastructure.”
Dr. Anurag Agarwal, President of RMS, added, “To be able to offer these reports coupled with privileged legal interpretations of lawyers familiar with fair lending laws provides a huge benefit so lenders can truly appreciate what the results mean.”
When asked about SCP’s fair lending package, Offit Kurman principal Ari Karen explained, “With the new HMDA rules to be implemented and the inevitable increase in fair lending cases that will result, the timing of this program is critical – it’s the right solution at the right time.”
About Strategic Compliance Partners
Strategic Compliance Partners (SCP) is a rapidly growing compliance company, founded in 2012 and has offices located throughout the country. In addition to attorney-driven, fixed-cost compliance solutions, SCP utilizes technological breakthroughs and best in class industry partnerships to provide access to multiple services, impacting all facets of lending operations.