Ensure your institution’s mortgage compliance with Predict360’s HMDA management solution.

HMDA Compliance

The Challenges

  • Despite constant scrutiny from regulators, many lenders are unaware of their fair lending requirement failures.
  • HMDA data is used in fair and responsible lending examinations, investigations, and enforcement actions, as well as in CRA performance evaluations. Inaccurate data leads to flawed results, delays in the examination process, and often mandated HMDA scrubs – which can be very costly and time consuming.
  • HMDA data quality is at the top of a very long list of regulatory risks. “Getting the process right” is no longer just favorable, it is the priority!

Our Solution

360factors provides a regulatory risk and compliance management software platform and advisory services for HMDA data management through a simple yet effective regulatory risk and change management model and methodology. The solution automates your collection, verification and certification of HMDA data without increasing loan processing time or the need to retrain staff. This eliminates endless hours of time required for manual data clean-up.

We offer two unique solutions:

Option 1

Managed Services

In managed services, you pay a flat fee to license the software along with our services. Combining technology and consulting, we help you build a cost-effective HMDA program that matches the strategic plan of your financial institution, ensures lending throughout the community, and meets regulatory expectations.

Option 2

You can secure advisory services on a short and long term project basis which allows you to proactively implement process and controls to speed up the preparation for HMDA data reviews that scrubs and corrects data, increases the efficiency of reporting and tracking results, and takes full charge of the review process.

Our Software

Our advisers and experts use Predict360, a HMDA compliance software to streamline advisory services as a competitive differentiator. It vertically integrates all modules which allow organizations to manage their HMDA, CRA and other compliance programs based on federal and state regulations through a single platform.

  • Implements effective internal controls to ensure accurate data is maintained through centralized storage and communication across the enterprise.
  • Streamlines the data management process to ensure quality data through automation – identify gaps in stored data, processing and reporting based on regulatory requirements and perform corrective actions for the identified gaps.
  • Tracks corrective and preventive actions, and builds the exact workflow that you are looking for to ensure accuracy of data and for your remediation efforts.
  • Data integrity and testing allows organizations to restrict who can read, modify, approve or delete data, enabling management to hold employees accountable and keep a system of record of the historical changes made to data.