AllRegs State and Federal Compliance Product Enhancements By Melissa Hruza At AllRegs, we are always seeking to improve upon our product offerings to better provide our customers with the fast, reliable answers they need to conduct their daily business. To that end, we have made product enhancements to our State Compliance content, specifically to State Mortgage Compliance Checklists, State Required Disclosure Matrices and Permissible Fee Matrices, available for every state a customer subscribes to within the product. In addition, AllRegs Single-Family Lending subscribers now have access to Federal Compliance disclosures, such as the Good Faith Estimate, the CHARM booklet, and Truth-in-Lending statement. These enhancements are now available and accessible with AllRegs State Compliance and Single-Family Lending subscriptions. Subscribers can directly print these documents, or export them to MS Excel, print and insert them in front of every loan file and use them to be sure your file is compliant! These loan guidance checklists and matrices will be indispensable to your business. Additions and enhancements include: Compliance Checklists l Expanded content and categories (transaction-specific) l Expanded categories to include advertising, balloon loans, fees, foreclosure, rate locking, modifications, servicing, loss mitigation, prohibited acts, refinancing restrictions, usury l Expanded to include citation and relevant Act or Regulation l Features identification of the function typically responsible (broker, lender, servicer, etc.)
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State Required Disclosure Matrices l Expanded issuance timing, with descriptions l Added disclosure attributes include: l Entity breakdown (retail, wholesale, table-funded) l Expanded Purpose (purchase, refi, new lien, construction, construction/permanent, etc.) l In addition to citation, the Act or Regulation that governs as well l Special Attributes (high-cost, PMI, escrows, prepayment, etc.) l Expanded Lien Type (first, second, HELOC, reverse) l Loan Type (conventional, FHA, VA) l Property Types (single-family residential), condo, PUD, two- to fourfamily, manufactured, etc.) l Conforming or Jumbo l Amortization Type (fixed, ARM, balloon, interest only, buydowns, etc.) l Whether or not the form is optional (i.e., if commitment fee is charged, etc.) l Expanded notes regarding that specific form Permissible Fee Matrices l Expanded listing of fees l Addition of the following: l Third-party allowable l Governing act or regulation (in addition to the citation) l Expanded notes for the customer l Expanded information regarding Governing Act reflected in footnotes l Example: This content reflects loans originated under the Licensed Lenders Act, etc. If you have any questions or are interested in adding State Compliance or the Single-Family Lending Package to your subscription or beginning a new subscription, contact AllRegs at (800) 848-4904 or visit www.allregs.com. Melissa Hruza is marketing and communications specialist for AllRegs. AllRegs has a variety of resources to help meet your company’s anti-money laundering needs, including turnkey policy manuals, training, tracking and implementation resources, and even a free online course to get you started. Visit http://answers.allregs.com/free-aml-course to register for the free course. Or, learn more about AllRegs and the full suite of products and services at www.allregs.com today or call (800) 848-4904.
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servicers to gain more control over processes, provide a timely response to their borrowers and be better prepared to respond to new CFPB regulatory requirements.” Using servicer-defined parameters within the configurable settings in its logic and workflow, Error Resolution Tracking links incoming borrower correspondence with the loan number in LPS’ MSP servicing platform and assigns the borrower inquiry to the appropriate work queue for immediate action. To help streamline servicer response time, the solution auto-generates an initial response to the borrower acknowledging receipt of their complaint, and also preserves an audit trail of all borrower correspondence received and sent. If the servicer determines more time is needed to respond to a borrower’s inquiry, the Error Resolution Tracking solution auto-generates an extension notification to the borrower.
Pro Teck Unveils Hybrid Appraisal Product Pro Teck Valuation Services announced a new hybrid appraisal product for home equity and second mortgage lending. The Appraisal Desktop with Inspection (ADI) is completed by an in-state licensed staff appraiser in compliance with USPAP standards. ADI fills the gap between an Automated Valuation Model (AVM) with Property Condition Report (PCR) and a field appraisal. The ADI is a desktop appraisal that appraisers can complete and be USPAP compliant, and is more economical than field appraisal alternatives, such as a Form 2055. The process begins with a local real estate broker/agent from Pro Teck’s national panel who takes photos and completes a full inspection of the subject property and neighborhood influences. The inspection is then routed to an appraiser who uses MLS and other market data along with access to Pro Teck’s local market condition analytics to determine the most accurate valuation. “For those searching for a valuation product that meets stringent risk and regulatory demands, Pro Teck’s ADI is a safe, accurate, timely and affordable field appraisal alternative,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “The ADI provides a quality valuation in an easy-to-read format with a turn-time of less than five business days.”
CoreLogic Enhances Its Lead Management Capabilities CoreLogic has announced the availability of new lead management enhancements to its AgentAchieve suite for real estate bro-
kerages. These new capabilities allow brokers to generate and convert more leads, and provide more control over listing syndication activities. Agents within the brokerage can now better capture and convert leads into new business, while brokers can more efficiently recruit and effectively retain the best sales agents. The new lead management enhancements are seamlessly integrated within the AgentAchieve suite including the customer relationship management (CRM), broker and agent Web sites, eMarketing and broker listing management modules. New and upgraded capabilities include: Data feeds dashboard; automated lead capture from marketing portals; lead distribution policies; mobile lead management; and enterprise lead management dashboard. “The difference between AgentAchieve and other solutions in the market is the seamless integration of enterprise-class lead management with our real estate customer relationship management system. Now that AgentAchieve provides automated lead capture from real estate portals like Zillow, Trulia, and realtor.com, agents can manage all clients on a single platform,” said Chris Bennett, general manager of the Real Estate Services group for CoreLogic.
Compliance VERIFY and MSA Products Upgraded by QuestSoft QuestSoft Corporation released major enhancements to its Compliance VERIFY software to help lenders satisfy the Consumer Financial Protection Bureau’s (CFPB) Ability-to-Repay (ATR) rule by providing users with full Internal Revenue Service (IRS) 4506-T and Social Security Administration (SSA-89) verification services, as well as electronic transcripts integrated into its Compliance EAGLE QM/ATR pre-funding solution. Compliance VERIFY provides a simple interface for ordering, collecting and organizing income and Social Security Number (SSN) verifications. QuestSoft can also accept e-signed 4506-T submissions with seven e-sign companies including: Communication Intelligence Corp. (CIC), DocMagic, DocuPrep, DocuSign, eSignSystems, IDS and Silanis. Additionally, a free software development kit is available for any loan origination software (LOS), document or pricing vendor to quickly integrate the services and automate ATR compliance directly into the processing workflow. “The ATR rule has placed unprececontinued on page 42