The company aims to simplify HMDA Plus reporting for lenders
Analytics software provider TRUPOINT Partners has announced an updated version of its HMDA Transmittal as the compliance industry continues to see changes, especially in HMDA and Fair Lending.
TRUPOINT’s tool allows lenders to check their HMDA and HMDA Plus data prior to submission for government review. The company said that its offering is simpler compared with what the government currently provides. Users of the transmittal tool can identify potential data errors and correct them, helping them prevent delays or penalties.
"While the government's transmittal tool is a step up from the solutions that clients have relied on in the past, our HMDA validity and transmittal tool allows users to easily check for errors while raising the standards of data integrity," TRUPOINT President and CEO Trey Sullivan said.
TRUPOINT had previously done HMDA Transmittal upon request. The company has now added a specific product to its suite of analytics tools. In addition, the update transmittal tool integrates with TRUPOINT Analytics, which is designed to help banks, credit unions, and mortgage companies with compliance.
TRUPOINT Analytics offers compliance professional with data-driven insights to support efficient analysis of Fair Lending, HMDA, CRA, and Redlining risk. Current Analytics users can immediately access the updated HMDA Transmittal tool.
"This is just another way that our team is taking the stress out of compliance," Sullivan said. "TRUPOINT makes compliance clear. We're bringing TRUPOINT's ease of use to the transmittal process; when combined with our analysis and reporting, this will give customers the most advanced and comprehensive solution on the market."
