Can you elaborate on what may be meant or intended by “feasibility” in relation to the firewall requirement? If I am reading the preamble and regulation correctly, it appears that feasibility really has more to do with job duties of employees instead of potential software/tech limitations of the institution. For us specifically, all of our application and loan documents are stored in the same software system that we sue for underwriting. The DMI forms would be uploaded into the same area as applications, financials, early disclosures, and closing documents. While we have a way to “lock” a document, it is heavily dependent on a user to remember to do it when they upload it. We do have centralized underwriting, so we can’t state that the underwriting employees have a need to this information. Do you know of any verbiage in the preamble or regulation that we might rely on to use software limitations in our feasibility determination? The only thing I saw was where they said they did not intend for creditors to have to change processes or implement new systems.

On May 12, the Bureau published the Small Business Lending Rule Compliance Guide which addresses the Firewall in detail. Also, in the Rule on page 111 there is a sample form that includes language for the notice. If you would like a copy of the Bureau’s Guide please email jean@geodatavision.com