First American Data & Analytics has announced that its regulatory compliance tool, RegsData, is now fully integrated into the MeridianLink Mortgage loan origination system (LOS). This integration will provide lenders with seamless, one-click access to compliance monitoring directly within the MeridianLink LOS environment, helping ensure that loans meet regulatory and investor requirements before closing.
“Compliance is a moving target with rules and requirements constantly evolving at the federal, state, and local levels. RegsData takes the guesswork out of compliance by regularly tracking regulatory changes and delivering an automated solution that flags potential compliance issues in real time,” said Jennifer Menard, senior director of product management for First American Data & Analytics. “With this integration into MeridianLink, we’re delivering convenience, speed, and peace of mind that every loan meets the latest requirements before it closes.”
RegsData compares loan data against current laws, regulations, and investor guidelines, alerting users to potential compliance violations and fee calculation issues early in the loan process, allowing lenders to correct issues before the loan is originated, thus reducing risk and supporting expedited loan closings.
Key benefits of the integration include:
- Automatic compliance checks flagging issues related to TRID, QM, TILA, HOEPA, and other regulatory violations, eliminating the need for manual review and optimizing workflows.
- Fully embedded functionality that enables users to review and act on compliance results without leaving the LOS environment.
- Quick and efficient ordering process with reports that are automatically delivered to the eDocs repository.
- Interactive PDF reports with clickable summaries linking directly to detailed result sections.
- Override capabilities for approved users to adjust fee treatments and condition tolerances.
- Historical access to prior orders and compliance reports.
"We’re excited to expand our long-standing partnership with First American Data & Analytics,” said JP Kelly, SVP of mortgage for MeridianLink. “The integration with their RegsData compliance solution provides MeridianLink lenders with seamless, one-click access to compliance monitoring to help ensure all loans meet regulatory and investor requirements before closing. We’re adding value for our MeridianLink Mortgage customers by supporting faster, more confident loan closings, and we’re expanding our MeridianLink Marketplace with solutions that drive origination efficiency and compliance.”
