360factors, a provider of AI-powered compliance solutions for financial institutions, has launched a new Home Mortgage Disclosure Act (HMDA) Compliance Testing Agent within its Ask Kaia platform, offering automated regulatory testing at significantly lower cost than traditional outsourced reviews.
The HMDA Compliance Testing Agent is available to Enterprise plan customers and allows compliance teams to upload their Loan Application Register and associated loan documents, set a testing scope, and generate detailed audit reports on individual loans. The tool operates as a wizard-based agent, automating workflows that have historically demanded considerable manual effort.
The release addresses a longstanding pain point in mortgage compliance. For a $1bn institution reviewing hundreds of loans, a single mid-sized outsourced engagement can approach or exceed the annual cost of the HMDA Agent subscription, making the tool a potentially significant cost reduction for institutions of that scale.
360factors develops AI agent technology for financial institutions, with its Ask Kaia platform serving as a hub for compliance automation workflows across regulated lending environments.
360factors CTO Christopher Duden said, “We’re thrilled to release the HMDA agent because it eases the burden on financial institutions for one of their most demanding obligations. Our objective is to deliver a solution that provides compliance teams with the ability to test more loans, more often, with greater consistency, and at a fraction of the cost of traditional outsourced review.”
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