New and upgraded offerings recently unveiled by service providers promise to help lenders comply with the Home Mortgage Disclosure Act, the Ability to Repay rule and Fannie Mae’s Day 1 Certainty initiative.
A module created for NetOxygen has been released to help lenders comply with existing and new HMDA reporting requirements, an Aug. 29 statement from Wipro Gallagher Solutions indicated.
Wipro said the module automates the process of completing the Loan Application Register. It also helps lenders ensure data integrity by automatically validating all necessary demographic information prior to submission.
Source: Mortgage Daily