Wipro Gallagher Solutions Announces HMDA Compliance Update
FRANKLIN, Tenn. - August 29, 2017: Wipro Gallagher Solutions (WGS), a Wipro Limited company and a leading end-to-end provider of lending technology products and services, today announced the release of its enhanced Home Mortgage Disclosure Act (HMDA) functionality in NetOxygen, which helps lenders comply with current and new collection and reporting requirements, prescribed by the Consumer Financial Protection Bureau (CFPB) under the HMDA Act taking effect from January 1, 2018.
WGS enables its customers to achieve full compliance with regulations by automating the completion of their Loan Application Register (LAR), based on data collected throughout the loan lifecycle. Wipro Gallagher Solutions’ NetOxygen HMDA module helps lenders ensure data integrity by automatically validating all necessary demographic information prior to CFPB submission.
"By incorporating thought leadership and automation into our compliance solutions, we provide a valuable RoE (Return on Experience) for our customers," said Scott Dunn, Head of Product Management and Strategy, Compliance, Wipro Gallagher Solutions. "We have updated our technologies and processes to ensure compliance with the upcoming reporting amendments so that our customers can confidently start collecting data and demographic information via our NetOxygen platform in advance of the rule mandate," he added.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions provides retail, wholesale, correspondent, and consumer lenders with a powerful origination platform that drives profitable lending anytime, anywhere. Moving beyond a system of record to a system of opportunity, the NetOxygen platform elevates the borrower experience with front-to-back workflow, compliance automation, and paperless processing while leaving room for innovation through configurable workflow, third party integrations, and web services/APIs. Wipro Gallagher Solutions is a Wipro Limited company. For more information about Wipro Gallagher Solutions, visit www.wiprogallagher.com
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
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