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Loan Review Compliance Management

Loan review compliance management is the process of ensuring that a lender's loan portfolio is managed in compliance with relevant regulations and industry standards. This typically involves implementing policies and procedures to manage and monitor the risks associated with lending, and taking steps to identify and address any potential compliance issues.

Loan risk compliance management is important because it helps lenders to protect their investments and avoid regulatory penalties. By implementing effective compliance management practices, lenders can ensure that their loan portfolio is managed in a safe and responsible manner, and that they are meeting their legal and ethical obligations.

Loan risk compliance management typically involves several key steps. First, the lender will identify the relevant regulations and industry standards that apply to their loan portfolio, such as fair lending laws and consumer protection regulations. Next, the lender will develop policies and procedures to ensure that their loan portfolio is managed in compliance with these regulations and standards.

Once these policies and procedures are in place, the lender will then implement a system for monitoring and managing the risks associated with their loan portfolio. This might involve regularly reviewing and evaluating the loans in the portfolio, collecting and analyzing data about the borrowers' financial performance and credit history, and taking steps to address any potential compliance issues that are identified.

In addition to these ongoing activities, loan risk compliance management also typically involves regular training and education for employees, as well as regular internal and external audits to ensure that the lender's compliance management practices are effective and in line with relevant regulations and standards.

Overall, loan risk compliance management is an important part of managing a loan portfolio and ensuring that it is managed in a safe and responsible manner. By implementing effective compliance management practices, lenders can help protect their investments and avoid regulatory penalties.

Loan review compliance for OCC and FDIC

Loan review compliance for the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) refers to the process of ensuring that a financial institution's lending practices comply with relevant laws, regulations, and guidance issued by these agencies. This can include reviewing a bank's loan portfolio to ensure that it is being managed properly, examining the bank's underwriting processes and policies, and ensuring that the bank is complying with fair lending laws and regulations. Overall, the goal of loan review compliance is to protect consumers and help ensure the stability and soundness of the banking system.

 

Process for loan compliance with OCC and FDIC

The process for loan compliance with the OCC and the FDIC can vary depending on the specific regulations and guidance that apply to a particular financial institution. In general, though, the process typically involves the following steps:

  1. Identify the relevant laws, regulations, and guidance that apply to the institution's lending practices. This can include the OCC's lending guidance and regulations, as well as any relevant FDIC guidance and regulations.

  2. Develop policies and procedures to ensure compliance with these requirements. This can include establishing underwriting standards, loan review processes, and fair lending policies.

  3. Implement the policies and procedures, and train staff on how to follow them.

  4. Monitor the institution's lending practices to ensure compliance with the policies and procedures. This can include conducting periodic reviews of the loan portfolio, as well as monitoring for compliance with fair lending laws and regulations.

  5. Take corrective action as needed to address any issues that are identified during the compliance process. This can include modifying policies and procedures, providing additional training to staff, or taking other appropriate actions to ensure compliance.

Overall, the goal of the loan compliance process is to help ensure that a financial institution's lending practices are in compliance with relevant laws and regulations, and to protect consumers and the stability of the banking system.

Loan compliance and portfolio management for OCC and FDIC

 

Maintaining compliance with loan regulations is a critical part of managing a financial institution's loan portfolio. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) are two agencies that regulate the lending practices of banks and other financial institutions, and it is important for these institutions to understand and comply with their regulations.

One key aspect of loan compliance is ensuring that the institution's underwriting processes and policies are in line with relevant regulations. This can include setting minimum credit score requirements, verifying income and assets, and ensuring that loans are properly documented. In addition, financial institutions must also comply with fair lending laws and regulations, which prohibit discrimination on the basis of race, gender, religion, and other protected characteristics.

Another important aspect of loan compliance is conducting periodic reviews of the institution's loan portfolio. These reviews can help identify any potential issues with the portfolio, such as loans that are at risk of default, and allow the institution to take corrective action as needed. In addition, these reviews can help ensure that the institution's lending practices are in line with its policies and procedures, and that it is complying with relevant regulations.

Managing a financial institution's loan portfolio effectively can help protect consumers and ensure the stability of the banking system. By following sound underwriting practices, complying with fair lending laws, and conducting periodic portfolio reviews, institutions can help ensure that their lending practices are in compliance with OCC and FDIC regulations.

Loan compliance management is important part of managing borrowers financial and reporting documents for loan monitoring. Almost 70% of banks still rely on some combination of spreadsheets, core ticklers, or other manual processes.

BankStride is a digital banking platform you've been waiting for. BankStride makes it easy for banks to automate loan documents, exceptions tracking, loan reporting and covenant monitoring. No more managing checklists, searching for files in emails, or waiting on updates from other parties. Just create your requests and let BankStride do the work for you. 

Many Banks and lending companies depend on non-public client information to provide their
services. Examples include:

  • Automate Document Gathering

  • Checklist For Loan Reporting Requirements

  • Frictionless Customer Experience To Send Documents

  • Create Credit Exceptions & Tickler Tracking

  • Automated Loan Monitoring and Loan Compliance

  • Loan Reporting, Risk & Financial Reporting


Without a dedicated tool, professionals would have to manually manage checklists and calendar
events to keep track of all required information. BankStride automates this work while improving
security and reporting.

Why BankStride platform

  • BankStride is a web-based software solution for commercial banks and credit unions that works with customers to manage loan agreements and eliminate credit exceptions. FileStride improves credit exception management by reaching beyond the walls of the bank to work directly with customers.

  • BankStride is like autopay for customer information.

  • With BankStride, banking teams can schedule recurring requests for documents like financial statements and tax returns, compare actual and threshold covenant values (e.g. minimum DSCR), and send compliance certificates for signature via DocuSign.

  • Customers respond to information requests much like paying an online invoice – they clearly see what’s required of them and they act. Customers can respond using a login-less portal or by email – no account or password required.

How does this help banks

  • A borrower’s risk profile can change significantly over the years that follow a lending event. Managing loan agreement adherence through reporting and internal monitoring is an ongoing and tedious battle for banks. 

  • Banks that pursue superb loan agreement management are faced with handling complex recurring tasks using the basic tools of email, spreadsheets, and calendar ticklers. Banks that let this work fall behind risk delaying their awareness of problematic loans or operating practices, jeopardizing capital and reputation.

  • With BankStride, banks gain high-resolution loan agreement monitoring that saves time and delights customers.

How does our bank customer use BankStride

  • Our bank customer uses BankStride to schedule and automate the activities required to monitor loan agreements. 

  • For example, BankStride has proven effective in managing revolving lines of credit. BankStride  automatically requests and reminds customers to submit monthly AR and AP listings, inventory analyses, and borrowing base certificates each month. 

  • BankStride reminds the banking team to test various financial ratios. The results of the customer’s actions and the ratio testing all roll up to per-banker and per-office reports that can be run on-demand in seconds.

BankStride is powerful for bankers

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LOAN

MONITORING

  • Track financial reporting, covenants, and certificates.

  • Issue compliance certificates for signature via DocuSign.

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REPORTS AT EVERY LEVEL

  • Bank leadership can drill down to identify pockets of risk and underperformance.

  • Every member of the team knows where to focus.

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FLEXIBLE INFORMATION MANAGEMENT

  • BankStride supports one-off and recurring information requests.

  • Flexible storage layer configuration options available.

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Easy for bank customers

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NO USERNAMES

AND

NO PASSWORDS

  • Customers receive tokenized links that enable portal access.

  • Bankers can request information from anybody with an email address.

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UPLOAD OR EMAIL

  • Easy to use customer portals show the customer exactly what is needed.

  • Email-based file ingestion enables customers to email files in response to requests.

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TIMELY ALERTS

  • Reminders and alerts are aggregated to prevent information overload.

  • Alerts can be toggled per-user.

  • Customizable reminder schedules.

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STREAMLING LOAN UNDERWRITING, LOAN MONITORING, COVANENTS, FINANCIAL REPORTING

Automate Bank customer information requests for covenant monitoring , loan reporting, financial reporting and exception handling.

FiStride allows you and your customers to exchange information with zero friction so that you can reduce credit exceptions and recover valuable time. 
BANKERS STREAMLINE LOAN REPORTING DOCUMENTS

Know what you have, know what you need.

Why BankStride?

We're the digital banking solution you've been waiting for.

We make it easy to automate your loan reporting and covenant monitoring. No more managing checklists, searching for files in emails, or waiting on updates from other parties. Just create your requests and let BankStride do the work for you. 

How it works

BankStride combines checklists with cloud storage to help you communicate and monitor your information requests and covenants.

All it takes to get started:

  1. ​Request items by creating projects for one-off items or templated lists.

  2. Review incoming files from your client and mark items as satisfied or complete.

  3. Repeat with automatically recurring requests and reminders.

Who it's for

BankStride is a solution for individuals, teams, and banks that need a better way to request information. We've facilitated thousands of customer relationships and transactions with teams in banking, accounting, consulting,  and advisory services, just to name a few. 

FEATURES

Bankers increase efficiency and improve loan risk and compliance with loan monitoring, reporting and exceptions.

Know what you have,
know what you need

Create recurring requests with status indicators, reports and automatic nudges that keep everybody in the know.

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Many ways in,
password optional

Customers have the option to send files through email or a login-less portal. Either way, we get the files where they need to go.

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Built to empower bankers

Track and monitor financial reporting, covenants, and certificates, and identify pockets of risk and non-compliance.

Structured for you and
your team

Add your colleagues with a single click, and manage access permissions so the whole team can get the job done. 

We've facilitated over 1,000,000 client interactions...and counting.

Who are we
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Seth J.

"BankStride has saved us tremendous time and effort by getting exactly the information we need."

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