Lenders Compliance Group®
Creating a Culture of Compliance®
MEMBER OF NATIONAL ORGANIZATIONS
ABA | MBA | NAMB | AARMR | MISMO | ARMCP | ALTA | IIA | ACAMS | IAPP | MERSCORP
Our HMDA/CRA division developed the first program ever to help banks and lenders file and analyze CRA and HMDA data. Range of services include ease-of-use software, fair lending analysis, and data collection and processing.
We thoroughly analyse HMDA and CRA data and provide a detailed report of our findings. Reviews are conducted at the loan level and by software interface. LCG assists financial institutions in evaluating their Fair Lending performance.
Comprehensive reviews are often used to evaluate HMDA and CRA impact initiatives, data analysis, required notices or disclosures, risk-based pricing, and FACTA implications.
Services
Audits
Continuous monitoring of an institution’s HMDA data collection is conducted by on-site or off-site audits. Our reviews are based on selecting a sample of loans and application files to audit and comparing the loan data engered on the HMDA-LAR with the data in the actual loan file. We cross-check our findings with the instutution’s transmittal data on the FFIEC’s Data Entry Software or other transmittal software that uses FFIEC’s compatible file specifications
Data Collection
Proper collection, maintenance, and reporting of data are critical functions of HMDA/CRA evaluations. Accurate filings are essential for financial institutions. Because HMDA and CRA are implemented by means of complex reporting rules and also heavily relied upon as a means of monitoring compliance with other laws and regulations, independent evaluation is often a valuable resource.
Unique Automated Reviews
* Comprehensive HMDA, CRA, and Fair Lending Software
* Auto Geo-coding tied to the front-end system for real time results
* Outsourced services for HMDA and CRA, including:
- data collection
- geo-coding
- submission