Knoxville, TN, August 22, 2014 --(PR.com
)-- RMS, Incorporated, a leading provider of compliance software and solutions for the banking/mortgage industries announced today the release of the 2013 Community Reinvestment Act (CRA) Peer Databases and Rankings in RiskExec®, a suite of regulatory compliance software tools.
This data is compiled by the Federal Financial Institutions Examination Council (www.ffiec.gov) and released to the general public for analysis. With the release of these 2013 CRA Peer tables and rankings in RiskExec®, RMS again becomes the first firm in the nation to enable their clients a full review of lending and competitive performance in both small business and small farm lending for 2013 -- both nationally and in specific geographies. The Community Reinvestment Act, in part, requires lenders to reach out to both low-and-moderate income neighborhoods. The current focus and scrutiny of the CFPB against lenders for potential neglect of underserved markets adds weight to the use of these rankings and data.
"We at RMS believe in quickly providing public/government data to our RiskExec® clients. This year again we have provided this data and reports as soon as it’s made available by the government. With the increased scrutiny of lenders and the due diligence required by the CFPB, we believe these datasets enable our clients to be pro-active in their analysis and compliance programs as it relates to small business and small farm lending," stated Dr. Anurag Agarwal, President and CEO, RMS. We will post the 2013 HMDA Peer Databases at a similar pace once that information is released by the government."
The RiskExec® software suite currently includes geocoding, mapping, and all manners of data visualization -- from interactive maps to peer rankings to tables & charts -- as well as executive and regulatory reporting for all facets of Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA) and Fair Lending.
RiskExec® is a suite of software tools developed specifically for financial services firms and their management teams. The RiskExec software tools assist financial services firms in determining their regulatory compliance guidelines. RiskExec® is a browser-based product containing tools that include HMDA, CRA, Fair Lending, geocoding, mapping and data visualization as well as executive and regulatory reporting. For more information, visit us on the web at http://www.RiskExec.com
RMS, Incorporated provides web-based compliance software and consulting solutions to the banking and mortgage industries. Our clients range from small local banks and mortgage brokers to very large national mortgage companies. We provide high-end solutions with a very hands-on service and support. For more information about RMS's solutions visit our website at www.strategicRMS.com.
Contact: Dr. Anurag Agarwal, AAgarwal@StrategicRMS.com, 865.769.3312 x 1