In today’s mortgage industry, loan quality is best assured throughout the process, not after the fact. The reason the regtech solutions are taking off is because lenders are slowly realizing they need to tackle loan quality issues as they happen, from the point they begin gathering information to create a loan file through closing. The business risk of producing bad…
The data requirements needed to manufacture and decision a loan seem to be ever growing, as do regulator and investor expectations. Data is distributed across multiple document types, the loan origination system and a multitude of other sources. All this information needs to be verified and validated to ultimately come to the source of truth and support confidence in loan…
The industry is a buzz with the how artificial intelligence (AI) and machine learning will change the way we work and the benefits it will create for labor intensive processes. LoanLogics has certainly been at the forefront of that transformative conversation in a number of recent industry articles and webinar on the topic What has been talked about less though is how organizational…
As I work with lenders to solve for the alphabet soup of compliance, TRID and HMDA specifically, I consistently receive questions around the latest rumblings popping up in the news. Recently I’ve been asked about tolerance violations related to the loan estimate (LE) and closing disclosure, as well as increased investor scrutiny on seller HMDA data. I addressed those questions…
Why Regtech is a Necessity for Reducing the Cost of Managing Mortgage Loan Quality This overview of our “Regtech Explained” whitepaper is an invitation to read our latest whitepaper on Regtech. The full whitepaper is free and shows how the mortgage industry has struggled with loan quality for decades and explains that the problem is only getting worse. Even as more…
With the increase of FinTech, technology to support financial service operations, comes RegTech, the technology to address and monitor regulatory compliance. Today, we have the makings of digital mortgages, consisting of online applications, verifications, approvals and closing; the paperless, virtual mortgage. FinTech companies and processes were created to enhance the consumer experience while improving their communication and engagement with financial…
