Wolters Kluwer Financial Services said it has introduced a Software-as-a-Service version of its widely used Home Mortgage Disclosure Act compliance solution.
The SaaS version joins the in-house version of HMDA Wiz now used to process more than 70% of all HMDA loans submitted to regulators, the Minneapolis company said.
The HMDA Wiz software is used to collect, analyze, report on and submit data from HMDA loans and is updated as regulatory, geocoding and rate spread changes happen, the company said.
The Web-based SaaS version is intended to allow quick adoption time and affordability to more financial institutions, the company said.
