twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Compliance News | Mortgage Compliance Newsletter | Mortgage Regulations
News about complying with mortgage laws, rules and regulations.


Servicers Get Help With Mortgage Compliance

New service promises help with CFPB compliance

Oct. 2, 2013

By Mortgage Daily staff

A new product promises to help mortgage servicers comply with final rules issued by the Consumer Financial Protection Bureau.

In addition to CFPB compliance, the new service, dubbed LoanComplete, combines standardized workflow processing with enterprise content management and customized data analytics.

LoanComplete reportedly assists with compliance of Regulation X, which requires servicers to correct errors asserted by borrowers. It also helps with compliance for information requests.

Fiserv, which announced the new offering Wednesday, said the product helps servicers provide borrower protections from force-placed insurance.

"LoanComplete automatically gathers documents for the required servicing file, tracks missing documents across the servicing process spectrum, audits transfer files for data mismatches and critical documents, and accumulates and archives notes, documents and borrower communications," Fiserv stated. "Because these processes are automated, institutions may be able to avoid hiring additional staff to meet the new regulatory requirements."

Other areas addressed by LoanComplete are compliance with Reg X's requirements that servicers provide information about loss mitigation options to delinquent borrowers, establish policies and procedures for providing borrowers with continuity of contact with personnel capable of performing certain functions and evaluation of borrowers' applications for available loss mitigation options.

Also covered by LoanComplete are initial rate adjustment notices required by Regulation Z for adjustable-rate mortgages. The service additionally assists with providing Reg Z periodic statements, payment crediting and responding to payoff requests.

"The lending environment has become increasingly complex, and lenders and loan servicers are trying to manage all of the new requirements that are not supported by traditional lending technologies," Fiserv Enterprise Content Management Product Manager Gregg Lehman said in the announcement. "LoanComplete is the first comprehensive solution that complements existing lending systems and simplifies the regulatory compliance, loan origination and servicing processes, and helps lending institutions reduce risk, increase customer satisfaction and enhance profitability."

next story

back to current headlines


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders