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Press ReleaseDisparities Among Racial Groups and Delinquency Rates Important To Note In 2006 Fed HMDA Data Report, Says Wolters Kluwer Financial Services
Leading Compliance Provider Educates Lenders On Key Takeaways To Set Compliance Benchmarks And Grow Their Businesses
Waltham , Mass. – Sept. 19, 2007 - Just four business days after the Federal Reserve Board issued its 2006 Home Mortgage Disclosure Act (HMDA) data, Wolters Kluwer Financial Services, through its PCi line of compliance analytics solutions, began delivering the company’s 2006 Peer Mortgage Data to lenders. The experts behind Wolters Kluwer Financial Services’ PCi compliance analytics solutions compile the raw data released by the Federal Reserve Board and redistribute it via the Peer Mortgage Data to customers online and through the company’s CRA Wiz and Fair Lending Wiz software solutions to help them better understand market dynamics. The information within the company’s Peer Mortgage Data can help lenders set benchmarks against their peers' performance in terms of compliance with fair lending and anti-predatory lending requirements, the Community Reinvestment Act (CRA) and pricing patterns. But perhaps more importantly, the data can also help lenders identify new business opportunities such as emerging and underserved markets. “The annual release of the Peer Mortgage Data is highly anticipated in the market, particularly when the data holds the key to better understanding complicated market dynamics. Our solutions help customers identify new areas of opportunity as well as contextualize their past performance. This offers a great competitive advantage for our customers," said Raffi Festekjian, chief executive officer, Wolters Kluwer Financial Services’ PCi compliance analytics solutions. Wolters Kluwer Financial Services’ 2006 Peer Mortgage Data draws attention to several critical aspects of the Federal Reserve Board’s HMDA data report, including:
Wolters Kluwer Financial Services is distributing its 2006 Peer Mortgage Data to customers directly and also making it available to them through a Web-based HMDA data dashboard which illustrates market share analysis, lending dispositions, pricing comparisons and high-cost loans assessments for all lenders and geographies. For more information on Wolters Kluwer Financial Services’ 2006 Peer Mortgage Data and its industry-leading compliance analytics solutions, please visit www.pciwiz.com. About Wolters Kluwer Financial ServicesWolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, GulfPak, Desert Document Services, GainsKeeper®, CCH® Capital Changes, NILS INSource®, AuthenticWeb™ and CCH Wall Street®. Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information, and professional services. Customers include banks, credit unions, mortgage lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com. Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2006) of € 3.4 billion, employs approximately 18,450 people worldwide, and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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Jennifer Marso Director of Corporate Communications for Wolters Kluwer Financial Services 612.852.7912 Email Jennifer Charles Miller Senior Public Relations Specialist Banking, Mortgage, and Credit Unions 320.240.5457 Email Charles Angela Peterson Senior Public Relations Specialist Securities, Insurance, and Indirect Lending 612.656.7745 Email Angela |