FFIEC News

RMS Releases 2007 HMDA Peer for RiskExec Suite of Software

(Sept 16, 2007)-- RMS Incorporated, provider of compliance software and solutions for the banking/mortgage industries announced the release of the 2007 Home Mortgage Disclosure Act (HMDA) 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 2007 HMDA Peer tables and rankings in RiskExec, RMS becomes the first firm in the nation to enable their financial clients a full review of lending and competitive performance in all aspects of home mortgage lending - both nationally and in specific geographies and also as compared to any of their peers. This year’s data consists of 8,610 HMDA respondents with about 26,605,695 records.

"In this tough lending environment, we at RMS believe in quickly providing public/government data to our RiskExec clients. This year’s data shows a marked 22% decline in overall HMDA filings. This could be because many of the previous year’s respondents are no longer in operation and there were many more non-reporters than previous years. The percent of originations and denials was 41% and 19.2% in the 2006 data and is now 39.3% and 22.4% respectively in the 2007 data,” stated Dr. Anurag Agarwal, Ph.D., President and CEO of RMS. “This data enables our clients to access the information they need for Peer comparison and to chart their course for the balance of the year. Releasing these rankings quickly after the data has been provided by the federal government has been a distinct advantage of RiskExec. We earlier posted the 2007 CRA Peer Databases at a similar pace once that information was released by the government in August."

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) and Community Reinvestment Act (CRA).  For more information, visit them on the web at http://www.RiskExec.com

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