Case Study: WyHy Federal Credit Union streamlines HMDA reporting with Coviance

WyHy Federal Credit Union reduces HMDA reporting errors with Coviance

WyHy Federal Credit Union faced a daunting and resource-intensive annual challenge in compiling and submitting accurate Home Mortgage Disclosure Act (HMDA) data. Their process was a frantic scramble to ensure compliance, presenting a significant operational burden.

To solve this, WyHy implemented the Coviance HMDA Validation tool from vendor Coviance. This solution provided real-time validation and automated checks, which reduced submission errors and simplified the correction of reporting issues. The credit union transformed their HMDA reporting into a manageable, ongoing process, gaining confidence in compliance with automatically updated regulations.

WyHy Federal Credit Union