BrooksHCLA Frequently Asked Questions
What is a web service and how does it work?
A web service is an application that sits on our server. Your application sends the service information: the service processes it and returns the results to you. Think of it as a security gate that your loan passes through on its way to its destination. Because the web service resides on our server, we can update and upgrade it automatically without bothering you about installing new versions.
Why trust Brooks with my compliance issues?
If anyone can keep you out of trouble, it's Brooks Systems. We've been in the business of automated compliance for over twenty years, starting in the '80s with the Brooks handheld machine and in the 21st century bringing cutting-edge technologies to bear on the familiar problem of regulatory compliance. The Brooks name is synonymous with safety as our products are ubiquitous in the industry.
Can I integrate this product with my current system?
We offer a range of integration options. You could select full integration, with which you have a "magic button" directly embedded in your software, allowing you to check loans with one click. We could also extract data from files in your database from a web page and return results to you through a browser window, where you can print a report with no direct integration in your LOS and minimal data entry on your part. The level thatyou choose depends on whether you have proprietary software, out-of-the-box software, or want to use a third party application like Microsoft Excel.
We have a proprietary system. How can we integrate Brooks HCLA into this system so that we get the "magic button"?
We will provide your IT department with a well-formed schema to map the data to the right format, and collaborate with your programmers to create the upgrade that your software needs so it will "talk to" the web service effectively.
Do you address and incorporate the minutia of fee handling as detailed in 4(C)(7) of RegZ?
Who are the primary users of the Brooks HCLA web service?
- Lenders operating in multiple states.
- High-volume lenders.
- Lenders wanting to guarantee that they are not involved in predatory lending.
- Compliance companies.
- Wholesale companies concerned about assignee liability in the loan pools that they are buying.