At AllRegs, we are always seeking to improve upon our product offerings to better provide our customers with the fast, reliable answers they need to conduct their daily business. To that end, we have made product enhancements to our State Compliance content, specifically to State Mortgage Compliance Checklists, State Required Disclosure Matrices and Permissible Fee Matrices, available for every state a customer subscribes to within the product. In addition, AllRegs Single-Family Lending subscribers now have access to Federal Compliance disclosures, such as the Good Faith Estimate, the CHARM booklet, and Truth-in-Lending statement.
These enhancements are now available and accessible with AllRegs State Compliance and Single-Family Lending subscriptions. Subscribers can directly print these documents, or export them to MS Excel, print and insert them in front of every loan file and use them to be sure your file is compliant! These loan guidance checklists and matrices will be indispensable to your business.
Additions and enhancements include:
Compliance Checklists
►Expanded content and categories (transaction-specific)
►Expanded categories to include advertising, balloon loans, fees, foreclosure, rate locking, modifications, servicing, loss mitigation, prohibited acts, refinancing restrictions, usury
►Expanded to include citation and relevant Act or Regulation
►Features identification of the function typically responsible (broker, lender, servicer, etc.)
State Required Disclosure Matrices
►Expanded issuance timing, with descriptions
►Added disclosure attributes include:
►Entity breakdown (retail, wholesale, table-funded)
►Expanded Purpose (purchase, refi, new lien, construction, construction/permanent, etc.)
►In addition to citation, the Act or Regulation that governs as well
►Special Attributes (high-cost, PMI, escrows, prepayment, etc.)
►Expanded Lien Type (first, second, HELOC, reverse)
►Loan Type (conventional, FHA, VA)
►Property Types (single-family residential), condo, PUD, two- to four-family, manufactured, etc.)
►Conforming or Jumbo
►Amortization Type (fixed, ARM, balloon, interest only, buydowns, etc.)
►Whether or not the form is optional (i.e., if commitment fee is charged, etc.)
►Expanded notes regarding that specific form
Permissible Fee Matrices
►Expanded listing of fees
►Addition of the following:
►Third-party allowable
►Governing act or regulation (in addition to the citation)
►Expanded notes for the customer
►Expanded information regarding Governing Act reflected in footnotes
►Example: This content reflects loans originated under the Licensed Lenders Act, etc.
If you have any questions or are interested in adding State Compliance or the Single-Family Lending Package to your subscription or beginning a new subscription, contact AllRegs at (800) 848-4904 or visit www.allregs.com.
Melissa Hruza is marketing and communications specialist for AllRegs. AllRegs has a variety of resources to help meet your company’s anti-money laundering needs, including turnkey policy manuals, training, tracking and implementation resources, and even a free online course to get you started. Visit http://answers.allregs.com/free-aml-course to register for the free course. Or, learn more about AllRegs and the full suite of products and services at www.allregs.com today or call (800) 848-4904.
