Brooks Systems' easy-to-learn, easy-to-use web-based products were designed to provide accurate results and meet the demands of a constantly changing marketplace. There are never updates to install or desktop software to purchase. As long as you have internet access, these tools are a click away.
We have created several specialized compliance tools on Microsoft's .NET platform to assist our customers with specific services. The flexible XML-based architecture allows easy integration with virtually any software via the internet, including LOS, processing, and servicing systems.
Brooks Truth in Lending software has been in development for over two decades to continuously meet the demands of a constantly transforming marketplace. Our related mortgage Math Engine gives consistency to your operation to keep pace with changing mortgage instruments.
For lenders struggling to keep up with compliance regulations in an ever-changing mortgage environment, the evolution of creative loan products and multiple levels of predatory lending regulations bring numerous challenges. With an eye toward effective due diligence, many residential mortgage lenders have been searching for simple, cost-effective tools to assist them in avoiding inaccurate disclosure — and noncompliance.
Internet-savvy lenders and due diligence providers have long known that the web offers the potential to provide an effective, cost-efficient technology-based solution. An online method for accurately producing disclosures required by the Truth-in-Lending Act, for instance, offers great promise for lenders hoping to eliminate portfolio risk and ensure compliance…yet the problem has not been widely addressed by mortgage technology companies.
Any technology-based solution must focus on the complexities of current regulations and at the same time simplify the process for lenders, while also addressing the issues of accuracy, flexibility and ease-of-use.
"Utilizing an Internet-based compliance validation tool that accurately verifies disclosures and fees provides a great opportunity for those in charge of compliance," says Robert Brooks II, president and CEO of Brooks Systems, a Connecticut-based company that designs and distributes compliance and risk management tools.