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Compliance

We know a robust compliance feature set is essential in any top-tier loan origination solution today. 

Not only do examiners regularly focus on timely disclosures, but increasingly they are focusing on consistency in pricing for fair lending compliance. As the compliance landscape is always evolving, we remain committed to compliance as a top priority.

 

Since the inception of CreditCore®, we have consistently met or exceeded regulatory change deadlines.  

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Compliance Features Overview

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Adverse Action Notice Automation & Customization

  • Automatic mailing of letters & disclosures

  • CreditCore supports multiple versions of fully customizable notices

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Disclosures, Disclosures, Disclosures!

  • Adverse Action Notices, FACT Disclosures (Credit Score Exception Notices and Risk Based Pricing Notices), Privacy Notices, and Custom Disclosures

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Ensure Timely Disclosure & Decisioning 

  • Set up automated email, text and on screen notifications to make sure disclosures are generated within the time frame you specify

  • Set up additional automated email, text and on screen notifications to ensure applications are decisioned within your own institution service levels

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All the ACRONYMS!

  • HMDA, CIP, MLA, HPML, HCML, ATR, QM whether gathering the data, or testing, we've got it covered.

  • Not to mention, the loan estimate, credit counselors list, mortgage related obligations, and automated service 'Services You Can Shop For' are covered as well

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Ensure Consistent Loan Pricing

  • Fully configurable pricing matrices ensure rates are consistent with your institution's pricing policy

  • Additional granular controls to prevent users from deviating from pricing entirely, or allow some flexibility, it's up to you

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ADA Website Compliance

  • Choose to enable a WCAG 2.0 overlay within the CreditCore_WebApp to ensure your institution provides an accessible online experience for all site visitors, regardless of any disability or impairment.

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Alerts & Monitoring

  • Want to know when a loan has been declined or withdrawn, so that you can review it?  Easily set up email and/or text alerts when a loan is declined or withdrawn, or, if you prefer, use our simple yet powerful reporting tool to review when convenient for you 

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Business Lending Compliance

  • Capture ownership percentage as well as control persons to comply with beneficial ownership requirements

  • Capture minority owned businesses for reporting requirements

  • SBREFA Section 1071 Capture & Reporting *Coming Soon*

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