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Rochdale Group launches revalidation technology
OVERLAND PARK, Kan. (9/16/09)--The Rochdale Group announced the availability of e-Revalidation, which is designed to test 100% of a credit union’s risk-based loan portfolio. e-Revalidation delivers comprehensive reviews of credit unions’ risk-based lending and pricing models. It also eliminates internal disruptions related to onsite reviews, which frees credit union staff time, and saves money by eliminating customary travel expenses incurred by in-person revalidation engagements. Credit unions’ risk-based-lending and pricing scorecards should be revalidated regularly, according to The Rochdale Group. After a review at the end of the first year of risk-based lending, a revalidation typically is performed every two years. Philadelphia (Pa.) FCU, which receives more than 10,000 consumer loan applications per year, implemented e-Revalidation. It reviewed 13,953 consumer transactions conducted during a 12-month period. Previously, the credit union had tested a random selection of total loan transactions. The Rochdale Group, based in Overland Park, Kan., provides services to more than 500 credit union entities nationwide.


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