Knoxville, TN, August 26, 2015 --(PR.com
)-- RMS Inc, a leading provider of compliance software and solutions for the financial industry announced today the release of the 2014 Community Reinvestment Act (CRA) Peer Databases and Rankings in RiskExec®, its flagship suite of regulatory compliance products.
This data is compiled and aggregated by the FFIEC (www.ffiec.gov) and released to the general public for analysis. With the release of the 2014 CRA data in RiskExec®, RMS again becomes the first firm in the nation to enable their clients a full review of lending and competitive performance in small business, small farm and community development lending. The Community Reinvestment Act, in part, requires lenders to reach out and service borrowers in low-and-moderate income neighborhoods. The current focus and scrutiny of the CFPB (www.cfpb.gov) against lenders for potential neglect of underserved markets adds weight to the use of these rankings and data.
"The current tough regulatory environment makes it imperative for all lenders to be proactive in their compliance programs. We at RMS believe in quickly providing public/government data to our RiskExec® clients. This year again we have provided CRA Peer data and reports as soon as they have been made available by the government," stated Dr. Anurag Agarwal, President and CEO, RMS. "We will post the 2014 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 including indirect auto, residential and commercial 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 for the banking and mortgage industries. Our clients range from small local banks and mortgage brokers to very large national banks and 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 101