Automate the HMDA process for maximum efficiency

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1 Automate the HMDA process for maximum efficiency avoid incorrect data streamline production reduce costs improve reliability What do you gain from HMDA reporting? Labor-intensive, costly, and error-prone, it does nothing to directly improve your bottom line. Still, you dare not treat it lightly. The penalties for failure to comply are too great. HMDA reporting not only must be done but done right. We can t make your HMDA reporting go away completely. But HMDA Wiz can come close customers estimate that they reduce the amount of time and labor spent on HMDA compliance by as much as 85%. HMDA Wiz increases the accuracy and quality of your data and reliably especially when implemented early in the loan process and guarantees accurate data for efficient fail-proof data submission. It virtually eliminates the need to fix errors and clean up mistakes on hundreds, thousands, or tens of thousands of loan applications. HMDA Compliance Today To comply with HMDA you painstakingly collect data from your loan origination or other systems, fill in detailed LAR reports with their confusing array of fields for every loan. The data must be geocoded correctly and then scrupulously checked and rechecked for accuracy. An error in any field on any row can result in a mandatory resubmission of data or, in extreme cases, even the payment of fines. The HMDA process clearly cries out for automation, but not every automated solution is effective. An effective solution must efficiently enforce the proper collection of data from the LOS being used, or from multiple LOSs, and directly update the data to a HMDA management system. It must sort and organize data for placement into the LAR. It should identify errors and expedite the editing process. Then, it should geocode each record and create charts and reports. Finally, it must encrypt and submit the data to the proper financial regulatory agencies that demand it. The automation system must be accurate, seamless, easy, and absolutely reliable. Overview of HMDA Wiz Page 1

2 HMDA Wiz Automation for Effective HMDA Compliance HMDA Wiz provides comprehensive HMDA automation that eliminates the manual, error-prone process that has burdened lending institutions for years. It delivers total HMDA data quality and maximum cost savings through proven HMDA management software and services. Large lenders report achieving 100% submission success due to the accuracy and efficiency achieved with HMDA Wiz. Used early in the lending process as well as post closing, HMDA Wiz delivers a compelling set of benefits for any organization needing to collect, scrub, geocode, organize, analyze, and submit HMDA data: Reduced cost reduces the labor and time involved in the collection, preparation, and reporting of HMDA data Reduced risk reduces the likelihood of data errors, incorrectly completed LAR forms, and geocoding mistakes Increased productivity, efficiency fewer people are able to handle a greater volume of lending and the corresponding HMDA reporting Increased quality error checking and data scrubbing improves and enhances information quality Improved regulatory compliance reduced chance of failing a HMDA review or having to resubmit HMDA data HMDA Wiz enables the institution to minimize the expense and the risks associated with HMDA compliance while instant HMDA audits ensure data accuracy. In fact, 70% of all HMDA LARs in 2003 passed through PCi solutions. Lending Organizations Large and Small Endorse HMDA Wiz: Working with PCi, we were able to achieve a record HMDA filing involving the submission of over 3 million loans with 100% data accuracy. Barbara Williams, VP, Manager Regulatory Reporting, Countrywide Home Loans Overview of HMDA Wiz Page 2

3 Inside HMDA Wiz Like all PCi product sets, HMDA Wiz combines proven software automation with leading professional services to deliver a complete HMDA management and reporting solution. It effectively automates the HMDA process end to end; from data collection and scrubbing through geocoding to the preparation and submission of HMDA reports. Lending organizations turn to HMDA Wiz to speed the process, reduce costs, free staff resources, and improve the quality of their data and submissions. It also provides key information for associated emerging market penetration and goal management. Key features include: Data Cleansing HMDA Data Verification Submission Geocoding HMDA Rate Spread Calculation Peer Benchmarking Analysis (Mortgage and Branch & Deposit) Mortgage Data Analysis Demographic Analysis Map Oriented Analysis Custom Executive Reporting Outsourcing Professional services PCi professional services assist the organization in optimizing the automation of HMDA reporting and ease the integration with the LOS and other systems. HDMA Wiz easily integrates with existing systems through customizable data definitions or simple Web services that expose standard interfaces. HMDA Wiz Integrates with Your Existing Systems Modified & Enhanced Data LOS HMDA Data Quality Audit and Enhancement HMDA Edit Checks Compliance Engine Predatory Lending Audit Report Constantly Updated Geocoding Create Detailed Failed Audit Report Data Acceptable? OFAC Broker License Enterprise Compliance Platform Data Quality Checks Updated Back-End Data to LOS Working Risk Management YTD Database - including HMDA Analysis Risk Management YTD Database Overview of HMDA Wiz Page 3

4 Lending Organizations Turn to HMDA Wiz for: Automated geocoding accurate geocoding based on the latest state, MSA, county and census tract data Instant HMDA audits solves data quality problems at the point of sale and prevent incorrect data from entering systems Data scrubbing and submission ensures accurate data and completion of LAR reports and provides editing and the submission tools necessary to comply with HMDA reporting requirements. In addition, through our professional services we map out best practices for achieving maximum HMDA efficiency and cost savings, and optimize the use of the software and data. Where HMDA Wiz Fits into the Lending Process Data Cleansing Support Services Geocoding HMDA Data Verification & Submission Rate Spread Calculation Custom Executive Reporting Custom Enterprise Rules Regulatory Reporting Portfolio o Mngt & Risk Analysis Post-Closin osing Compl pliance Closing Pre-Funding Underwriting Document Preparation Loan Application ANALYSIS Mortgage Data Analysis Demographic Analysis Peer Benchmarking Analysis Map Oriented Analysis Overview of HMDA Wiz Page 4

5 About PCi PCi Corporation is the industry choice for institutions seeking to keep lending in compliance with both regulatory and internal business standards. Over 2000 institutions, including 93 of the top 100 lenders, rely on PCi's software and professional services to monitor, detect, analyze, and resolve compliance demands throughout the entire lending process. Compliance expertise, acquired during more than ten years of operating success, positions PCi to help lenders produce compliance-certified loans that minimize risk, identify lending opportunities, add value to portfolios, and serve the needs of their communities. HMDA Wiz Includes: - Data Preparation - Data Analysis - Compliance-grade Geocoding - Peer Benchmarking Data - Data Cleansing & Standardization - Professional Services: EWiz for HMDA Management HMDA Business Process Optimization HMDA Wiz is one of a family of lending solutions from PCi. Our other solutions are: Fair Lending Wiz CRA Wiz Wiz LoanScout (loan optimization) Wiz Sentinel (pre-closing) All PCi solutions include our proven automation technology, expert professional services, and easy integration with your existing systems. Achieve HMDA Compliance Excellence The best way to deal with HMDA compliance is to automate as much of the process as possible as early as possible. HMDA Wiz gives you the right automation properly applied at the right place in the right way. The result: HMDA compliance excellence that reduces cost, eliminates errors, speeds production, and manages risk. Wiz is registered in the U.S. Patent and Trademark Office. Copyright 2004 PCi Corporation. All Rights Reserved. Rev. 4/15/04 Overview of HMDA Wiz Page 5 30 Winter Street, Boston, MA TOLL-FREE: FAX: