Web-Based Solutions Manage HMDA and CRA Compliance Risk

Posted by Orb Staff on May 04, 2009 No Comments
Categories : Residential Mortgage

anceEase, a provider of compliance and risk management solutions, has launch its HMDA Analyzer and CRA Manager solutions that enable mortgage lenders to manage the analysis and reporting that is required by the Home Mortgage Disclosure Act (HMDA) and the Community Reinvestment Act (CRA). The new offerings, hosted and Web-based, will enable the industry to ensure data integrity, edit loan records, conduct analysis, and generate the Loan Application Register and other reports for regulators, according to the company. "We partnered with experts in the fields of HMDA/CRA and Fair Lending and are leveraging their experience and technology to deliver solutions that are completely Web-based, yet don't require lenders to sacrifice capabilities in order to realize the benefits of on-demand software," says Jason Roth, senior vice president of product development. "The technology behind our HMDA and CRA solutions is currently in use by more than 20 financial institutions, including one of the top ten bank originators in the country." Both HMDA Analyzer and CRA Manager utilize Geocoding and visual presentation technologies. Geographic mapping allows users to create maps on the fly that illustrate their lending patterns in particular areas, and built-in reports can be run as-is or be customized in real time. Analytics featured within the solutions analytics include the capability to analyze borrower names to ensure that gender was properly reported. SOURCE: Complia

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