Technology Partnership Formed to Ensure GFE Compliance – NMP Skip to main content

Technology Partnership Formed to Ensure GFE Compliance

Jul 25, 2011

Wipro Gallagher Solutions (WGS), a provider of end-to-end loan origination technology and fulfillment services for mortgage lenders, has announced a partnership with Ernst Publishing to integrate Ernst’s XML Direct to enable lenders to reduce costs, increase efficiencies and minimize errors that result in expensive reporting errors. The collaborative effort offers users of WGS’ loan origination system (LOS), NetOxygen, access to Ernst Publishing’s XML Direct data and calculation tools to accurately populate Good Faith Estimate (GFE) and HUD-1 forms and update LOS and title programs. “After the Real Estate Settlement Procedures Act (RESPA) requirements went into effect in 2010, accurate listing of fees and taxes for recording documents have become exceedingly crucial for lenders,” said Jan Clark, vice president of sales and marketing at Ernst Publishing. “Our interface with NetOxygen guarantees RESPA compliance, speeds along lenders’ day-to-today production levels and enables them to focus more on their core competencies rather than devote extra time and energy to research and maintenance.” NetOxygen’s integration with Ernst Publishing’s XML Direct grants lenders access to a suite of XML solutions that can automate the generation of fees, such as title services and insurance, government recording charges and transfer taxes. The interface eliminates lengthy maintenance and research in locating correct recording jurisdictions and computing accuracy for every transaction processed. “By adding the Ernst Publishing service to our strong interface ecosystem, WGS assures its customers attain the most accurate calculation results to remain in full compliance with today’s ever-changing regulatory landscape,” said Chris Anderson, general manager for Wipro Gallagher Solutions (WGS). “This integration allows NetOxygen to provide greater workflow automation and an overall greater experience to our customers.”
About the author
Published
Jul 25, 2011
CHLA Backs Bank Capital Proposal, Questions Impact On Mortgage Lending

Trade group supports lower mortgage risk weights but says broader market forces — not capital rules — drove banks' retreat from the market

Senate Passes 21st Century ROAD To Housing Act In 85-5 Vote

Sweeping housing package heads back to House after Senate clears final version with broad bipartisan support

MISMO Updates Business Glossary To Support AI, eMortgages

New definitions covering eHELOCs, remote online notarization, valuation modernization, and compliance initiatives aim to improve consistency

Underwriters Don’t Slow Down Loans. They Eliminate Uncertainty.

ndustry’s biggest bottleneck is not underwriting itself — it is the uncertainty that reaches underwriting too late in the process. When validation happens upstream, speed follows naturally.

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk