With 50 new and 51 modified data points to collect and report, the 2018 Home Mortgage Disclosure Act (HMDA) rules are three times larger than the previous rule change. Mphasis Digital Risk’s HMDA solutions and services ensure data accuracy and completeness before submissions to CFPB.
Our solutions are tailored to meet specific objectives in mitigating risk and ensuring adherence to regulatory compliance. Our independent perspectives on the compliance function are valued by regulators. Our services include
Our services bring an independent perspective to the compliance function. Regulators value independent appraisals and often give more weightage and credibility to a compliance review by an outside party
We provide consulting and guidance on implementation of the new rule, including best practices for collecting new and revised data points. We will also offer guidance on how to achieve efficiencies with the increased data collection, navigate the new LAR submission portal, and on the newly proposed clarifying amendments.
Mitigating risk and adhering to regulatory compliance is our topmost priority and hence we have recently increased focus to support our partners in this environment with solutions tailored to meet specific objectives