Inland Mortgage figures it can save 60% of the time it spends on geocoding HMDA data and eliminate the potentially costly errors associated with them by letting a specialist handle those responsibilities. But while saving time and eliminating errors are crucial, Inland believes it can reduce costs by about $40,000 a year by going that route.

Inland is entrusting the bulk of its geocoding responsibilities to Centrax, a Dallas-based compliance software firm specializing in automating government regulatory compliance requirements such as geocoding, demographic analyses, and reports required by the Community Reinvestment Act and Home Mortgage Disclosure Act.

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