CRA compliance has become a major undertaking in recent years. It consumes hours of staff time and management attention. Self-assessment areas must be correctly defined. Data must also be accurately geocoded. Lastly, the data must be properly organized and reported for your examiners. How well you do it can impact the outcome.
Several factors may work against you. Firstly, it is difficult to know how your lending performance will look to examiners. Secondly, you may not even have the necessary information to demonstrate your institution's real performance level. To pass the examiners' inspections, you need to be fully prepared and organized- and how well you do it can impact your overall outcome.
Wolters Kluwer Financial Services' CRA and HMDA solutions allow you to proactively implement process and controls. With technology, outsourcing, consulting or a combination of all three, you can build a cost effective CRA and HMDA program that matches the strategic plan of your financial institution, ensures lending throughout the community, and meets regulatory expectations.
CRA Wiz® - An automated compliance software solution that speeds the preparation of data for CRA reviews that scrubs and corrects data, and reports and tracks the results, allowing you to take full charge of the review process. Learn More.
CRA Wiz® Compliance Dashboards - A reporting solution, you get a comprehensive, at-a-glance perspective of your CRA and Fair Lending performance. Learn More.
HMDA compliance software