Brooks.HCLA Web Service

When you have a large volume of loans to review for predatory compliance, a manual system of data input is not cost-effective option. Brooks.HCLA Web Service utilizes XML technology to provide an automated tool for checking predatory compliance. The flexible XML-based architecture provides numerous integration options with existing LOS and processing systems. The ability to integrate this service with your processing system will reduce errors and increase cost controls thus saving your organization time and money.

As federal, state and local regulation of predatory lending becomes an increased burden to large and small mortgage producers, what can they do to help control costs and guarantee that they are not in violation of these regulations? Also, when selling loan pools, what assurance can they provide to investors that there is little or no risk regarding these regulations?

Purchasers of loan pools are looking for assurance that the loans in the pool are compliant with regulations. They are especially concerned about with loans in states that recognize assignee liability. Unfortunately, most predatory reviews are performed at the single loan level with manual input from the processors, which is too costly for pool review. Brooks.HCLA Web Service can import data to our service for review and return results to the database when completed. With the use of this interface, minimal manual input is necessary.

Brooks.HCLA Features and Benefits

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