Wolters Kluwer Financial Services has launched an online resource centre to assist lenders on the Home Mortgage Disclosure Act final rule that is due to be enforced by mid-2015.
The HMDA Resource Centre will offer lenders the tools and resources for further understanding the HMDA regulations.
The centre will have readiness project plans, which are downloadable planning worksheets, to help lenders evaluate the impact of the new HMDA regulations on every part of their organisation.
It will incorporate plan implementation sequence, which is an organised map of steps to help optimise lenders’ implementation approach.
The resource centre will also offer a wide range of solutions and consulting services, and industry updates about the HMDA regulations.
Wolters Kluwer Financial Services executive vice president for risk and compliance consulting practice Tim Burniston said: "A critical component to understanding the scope and complexity of the new rule is having access to information.
"Lenders need a trusted source to turn to, and the tools available in our HMDA Resource Center will help them not only determine the potential impacts to their business, but provide industry best practices for addressing these significant regulatory changes more effectively."