One mortgage technology provider is helping lenders comply with upcoming changes on reporting requirements. Quality control is the focus of another service provider.
Data required for 2018 Home Mortgage Disclosure Act reporting can be imported, validated and submitted through Fair Lending Magic, ComplianceTech announced.
Fair Lending Magic’s new submission tool includes a Universal Loan Identifier generator to make it simple for lenders to comply with the new HMDA requirements.
Source: Mortgage Daily