BHG utilizes sophisticated predictive credit and consumer fairness models in our lending process. We integrate 23 years’ worth of borrower data with the skilled judgment of highly educated data scientists and credit analysts who strive to perfect our underwriting model. BHG’s compliance team conducts regular risk-based monitoring, testing, and reporting to ensure equity and fairness, and prevent discrimination in every aspect of our process. This allows us to be nimble and more accurately assess our borrowers to prevent biases.
Our models are proven, time-tested, and have undergone multiple FDIC exams with positive observations noted by the examiners. In addition, our sales team is separate from our underwriting team. This heterogenous decisioning process—in combination with our empirical data modeling—ensures equity among applicants and further prevents bias.
Sharing our consumer fairness practices with banks
With decades of federal regulatory and bank exam experience, our compliance team is committed to consumer fairness. BHG’s mission is to ensure that the banks who partner with us can share that commitment. Our compliance/regulatory advice helps banks to:
- Market and fulfill products and services in a manner that ensures compliance with applicable laws and regulations
- Promote fair and responsible financial transactions
- Prevent discrimination on a prohibited basis in any aspect of a credit transaction, including the marketing and application process, underwriting and pricing process, product servicing, collections activities, and more
- Ensure the availability of credit to creditworthy applicants
- Promote lending without arbitrarily excluding individual geographies or individuals
- Avoid marketing, advertising, or promoting activities that potentially exclude or discourage protected classes
