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The 2020 spring conference season is fast approaching. One particular conference LoanLogics is looking forward to attending is the 3rd annual ComplianceEase Risk & Compliance Summit being held in Chicago this April. Because of the uniqueness and depth of our integration, LoanLogics is not only sponsoring and exhibiting, but our senior leader and chief business officer, Craig Riddell, will be hosting a fireside chat on the final day. The session, titled “Five Years After TRID: We Weren’t Getting It Right” will tackle how lenders are still challenged by manual processes, multiple versions of closing disclosures (CD) and loan estimates (LE), and fee calculations.
In a 2019 blog post, we shared how TRID automation can really help lenders “get it right” and eliminate some of the day to day barriers of compliance.
The tightknit integration between ComplianceAnalyzer® and LoanLogics’ LoanHD® loan quality management platform helps lenders “get it right” by using rules-based automation to deliver users a complete and accurate compliance analysis all within a single user interface.
It’s unique in that in prepopulates a compliance auditor’s worksheet with the specific verified, validated data needed for a full compliance review. No hand keying or hunting and pecking for data. Disclosures and fees are easily comparable in a single matrix view across multiple LE and CD versions. Instead of culling through countless data points, automation prompts auditors to manage by exception only and validate any change in circumstance.
Auditors can then run their ComplianceAnalyzer report at the click of a button right within the same user interface. (LoanHD also displays a series of compliance tests not covered in ComplianceEase testing for added risk management.)
Once the tests are completed, a summary of the findings and results are easily accessible in LoanHD within a reports tab. One-click access back to the full ComplianceAnalyzer report is also available to auditors.
It’s as easy as that. The integration and automation present between LoanHD and ComplianceAnalyzer arms lenders with the intelligent tools they need to confidently and efficiently perform an average of 15-18 compliance reviews per day!
We hope to see you in Chicago at the 2020 ComplianceEase Risk & Compliance Summit to discuss the benefits of TRID automation in your operations.
Not attending but want to know more about LoanLogics’ TRID compliance solutions? Download our compliance workflow automation schematic to see how a single user interface, our integration with ComplianceEase and superior automation can help you streamline compliance.
You can also visit our website to explore our compliance solutions or email us at loanlogicsinfo@loanlogics.com to ask a specific question.
