With the CFPB's released of a final rule to implement Dodd-Frank Act amendments to the Home Mortgage Disclosure Act (HMDA). The enormity of the change will impact business operations, internal and external reporting, and CRA and Fair Housing Act performance assessments. The expanded dataset will give lenders, regulators, and the public additional detail about mortgage loan decisions. To successfully implement the change, you’ll need a strong regulatory change management program and the right solutions to help shape the story as more data is collected, analyzed and reported. Wolters Kluwer monitors HMDA regulatory changes – stay informed with our directory of recent developments.
From implementing data capture technology, to re-engineering collection procedures, to managing examiner expectations once all of that new data is available, we have the solutions and consultants to help fortify your HMDA compliance program. Our experts can support regulatory change management by updating HMDA policies, conducting risk assessments, training staff, and updating senior management and boards on the full impact of any changes ultimately adopted.
Wolters Kluwer is in a unique position to assist your institution through this change. We have the solutions and consultants to help fortify your HMDA compliance program.