LoanLogics Releases TRID Enhancement to Its Compliance Audit Interface | Press Release - About Us | LoanLogics

TREVOSE, PA, September 28, 2015

LoanLogics Releases TRID Enhancement to Its Compliance Audit Interface

Lenders now have the tools needed to identify, track and trend loan discrepancies and defects related to the new disclosures

Trevose, PA., September 28, 2015-- LoanLogics, a recognized technology leader in loan quality management and performance analytics, announced today that it has released the enhancements to its Compliance Audit interface in support of the new TILA-RESPA (TRID) regulations that take affect October 3, 2015. The Compliance Audit interface is found within LoanLogics' LoanHD® platform.

LoanLogics now provides the tools needed to identify, track and trend loan discrepancies and defects related to the use of the new closing disclosures. The result is that clients have the internal communication, training and documentation processes to audit their compliance with the new regulations.

"LoanLogics has completed several TRID enhancements to our Compliance Audit interface to help clients cost effectively evaluate their compliance with TRID and relieve some of their concerns around defects related to these changes," said Brian K. Fitzpatrick, President and CEO of LoanLogics. "Our technology can help drive a culture of lending where teamwork, timing, and tracking are paramount to ensure loan quality and compliance while reducing the manual tasks and associated labor costs."

Among the Compliance Audit interface enhancements made to comply with TRID are the following:

  • Triggers audit worksheets for the new loan disclosures based on the application data found within the loan file.
  • Automates data extraction for all key data fields in the new disclosure documents that are contained in a loan file, eliminating the need for costly data input.
  • Creates audit worksheets to support all versions of the new Loan Estimate and Closing Disclosure and order them correctly.
  • Provides an automated tool to enable the comparison of fee amounts across multiple versions of the disclosures, highlight differences and record the reasons and dates of changes.
  • Enables quick access to TRID related documents such as the Provider of Service List, Affiliated List and Change of Circumstance Letter (when applicable).

In addition, updates have also been made to LoanLogics’ LoanDecisions Product Eligibility and Mortgage Loan Pricing platform. These include changes to the Fees Setup screen and to the existing fee calculations.

For more information about TRID, visit Loanlogics.com/TRID.

About LoanLogics

LoanLogics was founded ten years ago to improve the transparency and accuracy of the mortgage process, improve the quality of loans and reduce risk to industry participants. LoanLogics serves the needs of residential mortgage lenders, servicers, insurers, and investors that want to improve loan quality, performance and reliability throughout the loan lifecycle. It develops advanced solutions that help clients validate compliance, improve profitability, and manage risk during the manufacture, sale and servicing of loan assets. Achieving these goals was the motivation in the development of our Enterprise Loan Quality and Performance Analytics Platform. To learn more, visit www.loanlogics.com.

Press Contact

Matt Strickberger
Managing Partner
On Point PR and Consulting LLC
16 MT. Bethel Rd., Suite 171
Warren, NJ 07059
908-967-9964
mstrickberger@onpoint-pr.com

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