First American Mortgage Solutions has launched a flexible loan-level solution for managing compliance risk earlier in the mortgage application, the company announced.
First American said its RegsData Compliance Suite is built for mortgage lenders and servicers, investors, auditors, due diligence and quality control providers. The company said the solution manages compliance risk earlier in the mortgage application, increasing efficiency, while reducing risk and costs.
“RegsData Suite is flexible and can be customized to fit the varied needs of our customers, including how it is consumed, the features it offers and its ability to manage workflow,” First American Mortgage Solutions President Kevin Wall said in a release.
“Our extensive critical regulatory tests, which are independently certified by outside legal counsel at state and local levels, empower our customers to manage compliance risk with confidence,” Wall said.
First American said the solution delivers bundled compliance reports or individual tests as application program interfaces for integration at any point along the loan lifecycle. It incorporates First American Mortgage Solutions’ automated regulatory compliance product, formerly known as PredProtect.