Empowers mortgage lenders to confidently meet legal and investor requirements
First American Mortgage Solutions, LLC, a part of the First American family of companies, today announced the launch of its RegsData™ Compliance Suite, a comprehensive and flexible loan-level solution for managing compliance risk earlier in the mortgage application, increasing efficiency, while reducing risk and costs.
Built for mortgage lenders and servicers, investors, auditors, due diligence and quality control providers, RegsData Compliance Suite delivers bundled compliance reports or individual tests as application program interfaces (APIs) for easy integration at any point along the loan lifecycle. It incorporates First American Mortgage Solutions’ automated regulatory compliance product, formerly known as PredProtect, and features:
- RegsData Report – Runs numerous federal, state and local jurisdictional compliance checks for QM, TRID, HOEPA and other compliance tests on loans in real-time and alerts users to any potential violations so corrections can be made promptly.
- RegsData APIs – All component parts of the RegsData Report can be pulled using APIs through the First American Mortgage Solutions’ Digital Gateway to meet custom integration needs.
- Third Party Review and Monitoring – Comprehensive counterparty oversight and management with 24/7 monitoring of watchlists and licenses.
“RegsData Suite is flexible and can be customized to fit the varied needs of our customers, including how it is consumed, the features it offers and its ability to manage workflow. Our extensive critical regulatory tests, which are independently certified by outside legal counsel at state and local levels, empower our customers to manage compliance risk with confidence,” said Kevin Wall, president of First American Mortgage Solutions.
For more information, visit firstam.us/regsdata. Call 1-800-333-4510 to schedule a private demonstration at MBA’s Legal Issues & Regulatory Compliance Conference, May 5-8 in New Orleans.
About First American Mortgage Solutions
First American Mortgage Solutions, a part of the First American family of companies, provides comprehensive solutions for residential lenders and servicers covering the entire loan spectrum, including complete products, microservices and application programming interfaces (APIs). First American Mortgage Solutions, together with First American’s broader capabilities, serves as a single source for title and settlement, home equity, data and analytics, fraud and verification, regulatory compliance, valuation and collateral risk, post-closing and default services. More information about First American Mortgage Solutions can be found at https://www.firstam.com/mortgagesolutions.
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; banking, trust and wealth management services; and other related products and services. With total revenue of $5.7 billion in 2018, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2019, First American was named to the Fortune 100 Best Companies to Work For® list for the fourth consecutive year. More information about the company can be found at www.firstam.com.