Seamless automation: originate, document and service
ComplianceOne® assumption lending is a Software as a Service (SaaS) tool that assists in the end-to-end management of your retail mortgage business.
Origination features
- Standard industry documents for 51 jurisdictions that are monitored and kept compliant with federal and state rules and regulations as well as investor requirements
- Early Disclosure documents that are compliant with current loans [e.g. TILA-early, GFE, Homeownership Counseling Notice, etc.] as well as future 8/1/15 TILA-RESPA regulations [i.e. Loan Estimate]
- Controlled product templates with pre-configured policies and documents workflow interfaces for upfront services [e.g. Credit Bureau, ATR/QM, HOEPA/HPML]
- Automated business rules and calculations performed by the system
- Closing documents that are compliant with current loans [e.g. HUD Settlement Statements] as well as future 8/1/15 TILA-RESPA regulations [i.e. Closing Disclosure
- Business-to-business workflow interfaces to closing service providers [e.g. Flood Determinations] and exports to enable downstream workflows [e.g. ULDD, Fannie 3.2]
- Assumption documents and workflow capabilities that can be extended to Home Equity Closed-end Loans
Taking productivity to a new level: Business process management
- An assumption business process that’s controlled from within a single system
- The ability to manage timing requirements around tasks by all parties involved in the transaction
- The ability to manage the sending and receiving of electronic versions of documents (PDFs)
- Configurable workflows and tasks that assist with process management and user work queue visibility
- Efficient collaboration between all parties involved in the assumption including initial Application from Borrower
Tamper-sealing technology: secure document exchange
- Tamper-sealing technology that minimizes the possibility of hackers, identity thieves, and unintended recipients
- The ability to electronically send packages to a secure website where applicants and account owners log in, view, accept, approve, and/or edit the documents and send them back through their preferred format (paper, fax, or with the same secure electronic channel complete with e-signature)
- The ability to easily track all communications and documents you send and receive
Technology backed by compliance expertise