Mortgage Compliance, Mortgage Loan Quality, News & Happenings at LoanLogics

LoanLogics Enhances HMDA Product Portfolio

Last week LoanLogics announced a new product in our HMDA compliance portfolio of solutions, LoanHD® HMDA DirectCheck™.  It is an exciting new offer targeted at lenders who have reasonable confidence in their data from their loan origination system (LOS) or other trusted source and want a highly automated, efficient, less costly, and more accurate way of completing HMDA file reviews.…

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Mortgage Compliance, Mortgage Loan Quality

Avoid the Year-End Mortgage Compliance Scramble

In the mortgage industry, compliance is a day in, day out task that like everything else is affected by business conditions. This is particularly true in a year like 2020 that tested business continuity plans, affected staffing, and redirected much of our attention away from managing the normal ebbs and flows of business to juggling the latest hot potato. (Many…

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Mortgage Compliance

“C” MERS® Compliance Differently

The mere definition of the word compliance can have a negative connotation. According to Merriam-Webster compliance is defined as: 1a: the act or process of complying to a desire, demand, proposal, or regimen or to coercion 1b: conformity in fulfilling official requirements The mortgage industry has certainly had its fair share of official mandates over the years to make compliance managers and senior leadership…

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Mortgage Compliance

Staying MERS® Compliant with Loan Modifications

As May 2020 begins to wind down, a staggering 4.7 million mortgages are in forbearance plans.  With 36.5 million unemployed and more businesses finding themselves unable to sustain staffing levels they enjoyed a few short weeks ago, requests for mortgage payment relief are likely to continue to role in.   As such, servicers are feverishly working around the clock to help…

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Mortgage Compliance

MERS Compliance: Reducing Risk with Well-Documented Procedures

Most independent annual reviews of 2019 MERS® compliance are now concluded and our attention is now locked on managing this year’s responsibilities amid a global pandemic.  Last year, LoanLogics found, yet again, that inadequately documented procedures leading to misinformation and omissions remained a challenge for servicers.  This was even more pervasive as staffing changes occurred within an organization.  With 2020…

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