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TH E M R EP O RT | 21 FEATURE "The more automated a fair lending monitoring program is, the better equipped lenders are to satisfy examiners' expectations, protect their company's reputation, and avoid costly enforcement actions and civil money penalties." Portfolio Services RentersWarehouse.com #RentEstate FREE Portfolio Management Consultation Corporate Owned Centralized Services Model ✓ Reduced Vacancies ✓ More Quality Tenants ✓ Higher Rents ✓ Less Maintenance Costs Centralized Corporate Specialization Dispositions Institutional Level Reporting Sales Rent Collection Local Market Expertise & Sta General Manager Leasing Agents Inspections Property Management Accounting Maintenance Coordination consultants. Now there is software designed specifically for fair lending risk monitor- ing that is easy to access, navigate, and maintain. Access to such technology allows lenders to broaden the scope and frequency of necessary reviews. It can also reduce costs over time as new technologies replace outdated legacy programs that take more time and resources to manage. The more automated a fair lending monitoring program is, the better equipped lenders are to satisfy examiners' expecta - tions, protect their company's reputation, and avoid costly enforcement actions and civil money penalties. Beyond Compliance A s the velocity and magnitude of fair lending risk continue to increase in today's environment, lenders need more ro- bust and automated fair lending monitoring programs to maintain compliance and proac- tively manage the potential for violations. Once in place, fair lending tools can be put to additional uses, delivering valuable insights in other areas of compliance and even business decision-making. The list of potential applications is long, including branch strategy, mergers and acquisitions, market analyses, marketing studies, third- party risk management, and operations management. These potential uses underscore the intersection between fair lending analytics and general business intelligence. Ultimately, when embarking on a compliance technology upgrade, think outside the box about how the new solution can not only add value to your compliance program, but also help to grow your brand, strengthen relationships with your regulators, expand customer rela - tionships, reduce costs involved in monitor- ing and exam management, and increase the profitability of your lending activities. DR. ANURAG AGARWAL is President of the RiskExec Division of Treliant Solutions, a provider of software designed to reinvent compliance as a source of competitive advantage for financial services firms. He is a recognized expert and financial services industry veteran with over 20 years' experience in fair lending, HMDA, CRA, and related areas. BRENDA BAYLOR leads the Client Solutions team at Treliant Solutions, where she assists clients in implementing the RiskExec® line of compliance technologies offered by the firm. She is a Certified Regulatory Compliance Manager with 20 years' bank, risk management, and compliance experience. Her expertise covers the broad spectrum of compliance risks and regulatory requirements inherent in the operations and product life cycles of financial services companies.