$10.6 Billion Sterling Savings Bank Celebrates 14th Year with RATA Associates

LONGWOOD, Fla.--(BUSINESS WIRE)--In its 14^th year using RATA Associates’ software and services, Sterling Savings Bank continues to submit accurate Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) data. RATA is an industry-leading provider of HMDA, CRA and Fair Lending compliance software and geocoding services for financial institutions.

“Compliance can be stressful and time consuming, especially as regulations constantly change”

Based in Spokane, Wash., Sterling Savings Bank has $10.6 billion in assets and operates more than 178 branches throughout Washington, Idaho, Oregon, Montana and California. Sterling Savings Bank is currently using the provider’s Comply Suite and GeoPlus geocoding solution. The bank implemented RATA’s original DOS-based software solution in 1996. As technologies evolved and regulations changed, Sterling continued on RATA’s software to its latest Microsoft .NET version, the RATA Comply Suite.

According to Ray Mooney, vice president and community development manager at Sterling Savings Bank, “RATA does a tremendous job of continuously improving their software. They provide the tools and support I need to do my job and meet regulatory requirements. As regulations change, we’re confident RATA will continue to innovate and provide solutions that keep us compliant. This is why we’ve been with them for 14 years and plan to continue on RATA’s software solutions into the future.”

“Compliance can be stressful and time consuming, especially as regulations constantly change,” said John A. Woloshen, executive vice president and chief operating officer for RATA. “We continue to improve our software and services to help financial institutions remain compliant, even as frequent regulatory changes occur. Our older technology software and newer Comply Suite solutions have helped hundreds of institutions submit HDMA and CRA data accurately and efficiently, achieving regulatory compliance much easier and more cost effectively than would otherwise be possible. We’re proud to continue serving our long-standing financial institution customers like Sterling Savings Bank and our excellent client retention is a testament to the superior solutions we provide.”

As part of its ongoing commitment to stay current with HMDA, CRA and Fair Lending changes, RATA recently made available its Comply 7.8. Based on Microsoft’s .NET 3.5 platform, the latest version contains all edit checks, geographic boundary changes and submission changes needed to accurately submit 2010 HMDA and CRA data. In addition to releasing Comply 7.8, RATA also recently released its cutting edge Comply Fair Lending Advanced Analysis and Regression component. The new component is a natural extension to RATA’s current Fair Lending product that offers statistically savvy users the power of both Multi-Linear and Logistical Regression capabilities.

When asked about RATA’s geocoding service, Mooney said, “It is the best it’s ever been.” RATA’s GeoPlus geocoding solution uses seven proprietary and commercially available address-matching engines, organized in a 13-step process that maximizes the strengths and minimizes the weaknesses of each matching engine. This process allows lenders to report the geographic location of their loan applications or collateral for residential and/or commercial mortgages, other consumer loans, small business loans and small farm loans accurately in order to comply with HMDA/CRA regulation.

John R. Woloshen, chief executive officer of RATA, said, “For more than 23 years RATA has pioneered HMDA/CRA compliance software, investing nearly $3.5 million in our compliance software suite during the last four years. Our continued goal is to provide service and technology to institutions that allow them to rest easy knowing their data is accurate and precise. We are proud to have served as Sterling Savings Bank’s compliance provider for 14 years and we look forward to serving them for the next 14.”

About RATA Associates

Founded in 1987 by John R. Woloshen, RATA’s current CEO, RATA Associates is an industry-leading provider of data compliance software and services for financial institutions. Built on .NET technology, RATA’s Comply Suite software is the industry’s most modern software and service geocoding solution, enabling financial institutions to remain compliant with the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA) and Fair Lending Act efficiently and economically. Since 1990, RATA has helped more than 600 financial institution clients successfully submit HMDA/CRA data each year. For more information, please visit www.rataassociates.com.