Applied Business Software (ABS)
has announced the upcoming update to The Mortgage Office Loan Origination System (LOS) will be ready for the collection and reporting changes of the 2018 Home Mortgage Disclosure Act and Regulation C (HMDA).
The upcoming enhancements will enable our users to easily collect and report the loan data as defined in HMDA 2017 LAR by the Consumer Financial Protection Bureau (CFBP). The data required under the current rule collected in 2017 must be submitted to the CFPB between Jan. 1, 2018 and March 1, 2018.
“ABS once again takes the lead in the implementation and on-time delivery of solutions needed by our clients to stay compliant with the HMDA changes becoming effective Jan. 1, 2018,” said Jerry Delgado, Chief Executive Officer of Applied Business Software.