RegsDataTM Compliance Suite

RegsDataMaintaining regulatory compliance is a formidable challenge, as nearly every aspect of the mortgage origination process is subject to regulation. The RegsData Compliance Suite is a comprehensive and flexible loan-level solution independently certified by outside legal counsel that can deliver bundled compliance reports or individual tests as APIs at any point in the loan lifecycle.

The RegsData Suite

RegsData Report

Runs numerous federal and local jurisdictional compliance checks on loans in real-time and alerts you to any potential violations so corrections can be made before your loans are funded – ensuring compliance with a variety of federal, state and local mortgage lending laws, rules and regulations at loan level.

RegsData APIs

Component parts of the overall RegsData Report can be pulled using APIs to meet custom integration needs. The various compliance tests and related APIs (available through First American’s Digital Gateway) help lenders mitigate potential risk and improve compliance much earlier in the application process.

Third Party Review and Monitoring

Cloud-based, automated solution that reduces the time, cost and risks associated with comprehensive counterparty oversight and management with the ability to run reviews on individuals and companies. The 24-hour watchlist and license monitoring provides real-time alerts – reducing your counterparty risk.

Remain Compliant in a Challenging Environment

Designed to be employed at any point in the origination process, RegsData is integrated with leading loan origination systems, adding hundreds of compliance checks to your existing process, including the latest from:

  • Consumer Financial Protection Bureau (CFPB)
  • TILA-RESPA Integrated Disclosures (TRID) Rule
  • Qualified Mortgage (QM) Rule
  • Qualified Residential Mortgage (QRM) Rule
  • Home Ownership and Equity Protection Act (HOEPA)
  • Higher-Priced Mortgage Loan Limitations (HPML)
  • Truth in Lending Act (TILA)
  • Mortgage Disclosure Improvement Act (MDIA)
  • Real Estate Settlement Procedures Act (RESPA)
  • Appraisals for Higher Priced Mortgages
  • Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act)
  • Office of Foreign Assets Control (OFAC)
  • State high cost and subprime loan regulations
  • Investor tests
  • And more

Reduce Costs With a Streamlined Compliance Review

RegsData helps to simplify your process and reduce costs by performing a detailed analysis on every loan, identifying violations instantly, and displaying pass/fail indictors for quick review. A First American Mortgage Solutions exclusive, the ‘Points & Fees Drilldown’ feature allows users to quickly identify fees that need attention. Clear and concise descriptions of the applicable laws, written in plain English, make the analysis easy to understand. The report provides written proof of compliance that can be placed in the loan file. RegsData also offers flexible, loan-level user controls to promote smooth workflows.