HMDA data is both a recurring concern and a useful tool for financial institutions. Banks, credit unions, and independent mortgage companies have to submit HMDA every year or risk the penalties so that all of this data can then be viewable to the public and can paint a useful picture of the overall market.

ComplianceTech wants to help you avoid these penalties and analyze this data, so here are the 3 major ways our LendingPatterns™ product is right for you.

Comprehensive Data from Across the Country

When you’re filling out your HMDA documents and researching all of the latest trends in mortgage lending, you need all of the latest data from financial institutions across America at your fingertips.

LendingPatterns™ meets this need by drawing annual HMDA data from more than 1,600 credit unions and hundreds of banks across the United States since 2004, offering you a comprehensive look at demographics, preferred products, approve/decline rates, and many more useful data points.

Free Training Resources and Tools for New Users

We are proud that our system stores countless amounts of HMDA data, but we also understand that this large quantity can cause anxiety for first-time users.

So we train you so that you can make sense of the data and communicate it in a visually-appealing manner.

Peace of Mind With Our Web-Based Solutions

Worried about software maintenance and down periods that could have disastrous effects on your reporting? LendingPatterns™ eliminates these concerns with our entirely web-based product, reducing the need for any physical or digital overhead for our clients’ businesses.

Our cloud-focused approach also means that you and your staff can access LendingPatterns™ anywhere in the world, whether it’s on a business trip, at a company off-site, or working from home.

When it comes to planning your financial institution’s roadmap and strategy, you need the best tools in the market to get the clearest look at the financial world. ComplianceTech is proud to provide you with these tools and so much more. Give our technology experts a call today at 1-202-842-3800 or visit us online to find out how your team can start using the most powerful compliance tool on the market.

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