New Equifax Portfolio Review Solution Helps Facilitate ALLL Regulatory Compliance and Junior Lien Reclassification Strategies for Financial Institutions
Challenging market conditions and recently updated federal regulatory guidelines are compelling financial institutions to enhance portfolio evaluation methodologies in order to accurately compute their Allowance for Loan and Lease Loss (ALLL). In order to help these organizations, Equifax has announced its new solutions for ALLL compliance that can deliver all of the data necessary to help drive a compliant portfolio review process — optimizing financial statements and mitigating risk.
Equifax’s new ALLL solution streamlines the portfolio review process and reduces costs. The solution utilizes Equifax’s comprehensive 360 degree view of the junior lien, property, and borrower –enabling lenders to obtain a complete view of the risk or opportunity associated with a given lien or consumer. Flexible data output and delivery options ensure a seamless and efficient portfolio segmentation and evaluation process.