Wolters Kluwer Financial Services has updated its Fair Lending Wiz software to include an ethnicity proxy functionality.
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The enhancement allows financial institutions to make a determination of whether or not a loan applicant is Hispanic when this race information is not available in the loan file.
The new feature further extends the Fair Lending Wiz solution's current ability to provide gender and minority proxies.
These proxies help improve the quality of Home Mortgage Disclosure Act loan data to detect potential problems that may contribute to discriminatory loans.
