As federal, state and local regulation of predatory lending becomes an increased burden to all mortgage producers, what can they do to help control costs and guarantee that they are not in violation of these regulations?
When selling loan pools, what assurance can be provided to investors that there is little or no risk regarding compliance of these regulations? Purchasers of loan pools are looking for validated assurance that the loans in the pool are compliant with regulations. They are especially concerned about with loans in states that recognize assignee liability. Unfortunately, most predatory reviews are performed at the single loan level with manual input from the processors, which is too costly for a large volume loan pool review.
By using Brooks XML WebServices interface, not only do you save time & money instantly, you:
- Are guaranteed compliance with federal, state and local predatory lending regulations
- Could control which loans are reviewed, which helps to reduce costs and pinpoint high-risk!
- Increased ability to manage portfolio risk by validating the entire pipeline
- Can customize output to display data in any format that you choose