Introduced in 1975, the Home Mortgage Disclosure Act (HMDA) requires lending institutions to maintain, report, and publically disclose loan-level information about mortgages. Companies that fail to comply with HMDA regulations may face costly consequences, such as fines as much as $1.75 million. Despite being in existence for over 40 years, many businesses still struggle to meet HMDA compliance.
What if you could ensure all your organization’s financial data and strategies comply with the HMDA all with one simple solution? Speed up processes by eliminating manual data entry, control record accuracy and securely disclose data with electronic reports, to ensure compliance, improve productivity and save money.
Improve your understanding of this important regulation using our two-page compliance brief. This simple, but straight-forward write-up helps you match HMDA requirements to specific technology aids to get you what you need to ensure compliance.
Become an expert on the HMDA and learn how your organization can be HMDA compliant with this brief.