Fair Lending School
Module 5: Applications
Module 5 is where we transition away from theory and start the loan life cycle. The first part of the loan life cycle is your application process. The two major factors we will review in this module are the application forms you use and the process your institution has to take applications. There are some great ways to reduce risk in these areas, and we will cover those too. Let’s get started conducting some fair lending reviews.
Manual -
Pages 57-76
At the end of Module 5 in your manual, we have included all of the application model forms straight out of the regulation. If you develop your own applications in-house, ensure that you are reviewing your forms and comparing to the model forms. If you have applications online, cross reference your online forms with what is in the sample forms. Make sure you include the same information and don’t add any prohibited questions. There is heightened risk in developing your own forms, but there are ways to mitigate that risk.