ORLANDO, Fla. — Azimuth GRC, a compliance automation pioneer, today announced from MBA’s Servicing Solutions Conference and Expo the release of HMDA Validator, an automated HMDA filing solution that simplifies reporting and streamlines the process. HMDA Validator makes the filing process faster, more accurate and more cost effective for financial institutions.

Azimuth is uniquely positioned to simplify and automate HMDA. Using artificial intelligence, HMDA Validator streamlines the complex reporting process. It quickly processes large volumes of data from multiple sources, applies iterative logic to edit reports and learns from prior submissions.

HMDA Validator relies directly on source data to remove dependency on origination platforms, helping financial institutions create precise, complete reports in record time. It also includes a continuous process of HMDA file generation, eliminating the need for a burdensome year-end reporting crunch.

“HMDA solutions have been in market for over 20 years with minimal innovation, despite massive data, analytics and reporting improvements,” said the company’s founder and CEO, Rohin Tagra. “Azimuth’s new automated solution is offering financial institutions a new path forward that reduces reporting burdens.”

Historically, HMDA reporting has been a manual and complex process. HMDA compliance calls for complicated data dependencies and conditions for reporting data elements. Current reporting methods rely on HMDA specific data from origination systems, which often contain out-of-date information. The reports generated from these systems require significant manual review and edits to compensate for source data quality issues. In addition, institutions depend on data and compliance experts who must stay aware of changing rules.

Tagra added, “Today, financial institutions face greater risks for meeting HMDA requirements. We’re seeing an increased use of HMDA data in regulatory exams and supervision. Meanwhile, inaccurate file generation or repetitive errors can lead to significant punitive fines. Institutions must harness automation to streamline HMDA reporting, maintain compliance and avoid damaging inquiries from regulators.”

About Azimuth GRC

Azimuth GRC revolutionizes the world of regulatory compliance by being the first and only company to codify every state and federal law on one platform, changing the culture of compliance by taking manual compliance work done on paper spreadsheets and automating it. Led by founder and CEO Rohin Tagra, Azimuth GRC is the only company bold enough to offer VALIDATOR, a software that provides daily automated tests of an entire portfolio to determine compliance with all applicable laws and regulations.