AllRegs enhances state compliance package with three new features MortgagePress.comAllRegs, State Compliance Package, AllRegs Online, Dan Thoms
AllRegs, an information provider for the mortgage lending
industry, has announced new features added to the State Compliance
Package accessed through AllRegs Online, the company's information
service. State Compliance Package subscribers currently benefit
from online, searchable access to plain language interpretations,
links to supporting laws and regulations, English and Spanish
language disclosures and more for all 50 states. Now enhanced with
three new features, subscribers have access to loan file
checklists, disclosure matrices and permissible fee matrices for
each of the 50 states.
The three new features, available for every state, consist of
the following pre-authored one-page ready-to-use reference matrices
and checklists:
1. State Mortgage Compliance Checklist, for each key
process step:
• Application Disclosures
• Loan Decision Notices
• Closing Disclosures
• High Cost Loan Disclosures
2. State Required Document Matrices, for the following
milestones:
• Time of Application
• Within Three Days
• Decision
• Closing
3. Permissible Fees Matrices,
identifying:
• Permissible Lender Fees
• Permissible Broker Fees
• Maximum Allowable Fee indicated
• APR inclusion
"We are excited to offer new checklists and matrices on state
compliance, required documents and permissible fees through our
State Compliance product," said Dan Thoms, AllRegs senior vice
president. "These documents can be printed and inserted into the
front of every loan file, or used as a reference for state
compliance. Mortgage professionals will be able to ensure that
their loan files are complete and compliant by using these new
checklists and matrices, streamlining processes and promoting
accuracy." Each product is an instant-print worksheet that is
continually updated by AllRegs.
Originators, Underwriters, Processors, Servicers, Closers,
Post-Closers and Compliance Personnel will benefit from the State
Compliance package, with the ability to access state-by-state
licensing requirements; requirements for escrow accounts,
statements, payoffs, lien releases, foreclosure process and loan
modifications; Wet Settlement requirements; loan file audit
resources; and much more.
For more information, visit www.allregs.com.
