Geocoding
 

SERVICES

Geocoding

GeoPlus Guaranty
In the event that government regulators find suspected inaccuracies of Home Mortgage Disclosure Act (HMDA) and/or Community Reinvestment Act (CRA) geocoding performed by RATA for an institution using RATA's GeoPlus service geocoding product, RATA will, at its own expense on behalf of the institution, demonstrate to the satisfaction of the government regulators that the suspected inaccuracies are indeed correct values and/or that RATA's geocoding methodology meets all government standards for Compliance-grade geocoding and that adequate safeguards are in place to prevent such errors as required by the regulations.

Providing that the institution maintains reasonable procedures to avoid errors that include documented periodic checks of the geocoding information obtained from RATA that are sufficient to satisfy the requirements of the regulation(s) and providing that customer uses best efforts to correct records returned by RATA with address quality error codes and submits the corrected records for geocoding, in the event that government regulators find that RATA's geocoding methods are not sufficient to warrant treatment of any erroneous data found as Bona Fide errors that are not violations of the regulation(s), RATA will pay up to $50,000 (Fifty Thousand Dollars) of any civil money penalty assessed that is directly attributable to geocoding that was performed by RATA subject to the following conditions and limitations:

  1. The customer's entire government submission record volume for the HMDA and/or CRA file(s) where inaccuracies are found and all records presented to examiners and/or government regulators for review must have been geocoded using RATA's GeoPlus service geocoding product.
  2. The institution or holding company must have a valid GeoPlus contract in effect with RATA at the time a GeoPlus Guaranty claim is filed.
  3. RATA's liability shall not exceed $50,000 (Fifty Thousand Dollars) to any single institution or holding company during any single calendar year.
  4. RATA's total aggregate liability to all GeoPlus service geocoding subscribers combined shall not exceed $150,000 (One Hundred Fifty Thousand Dollars) during any single calendar year.