Wolters Kluwer Financial Services is integrating the Reinvestment Fund's PolicyMap application into its software for Community Reinvestment Act and fair lending compliance.
The company will provide its customers with integrated web-based performance context mapping for the Home Mortgage Disclosure Act, CRA and fair lending compliance that can be coupled with geocoded data from its other products.
Integrating the Reinvestment Fund's PolicyMap app will help financial institutions to see their loan and deposit distributions across different demographics, Wolters Kluwer said Monday. They also will be able to create maps that regulators need, build pie charts that display loan activity across census tracts and shade by income level as a percentage of Metropolitan Statistical Area median.
Financial institutions can create and plot their own assessment areas on the web-based mapping screen. They will have access to data sets such as Department of Housing and Urban Development's foreclosure NSP Data, New Market Tax Credit eligibility, Gulf Opportunity Zones, Federal Deposit Insurance Corp. bank closures and Low Income Housing Tax Credits.
Wolters Kluwer provides compliance, risk management and audit products for financial institutions. The Reinvestment Fund is a community investment group that works on financing neighborhood revitalization in the Mid-Atlantic region.
