Mortgage Spirit Engine Incorporates New HUD Requirements

ge Spirit, a Denver-based provider of loan search and pricing revenue management technology for the mortgage industry, has released version 3.0 of its loan search and pricing engine, which the company says enables mortgage originators to stay compliant with the pending requirements and legislation dictated by the HUD-reformed Good Faith Estimate (GFE) requirements for 2010. Mortgage Spirit's updated version now automatically generates a PDF of the new GFE's language and guidelines within Mortgage Spirit's system. Version 3.0 includes all Real Estate Settlement Procedures Acts (RESPA) reform considerations and yields accuracy among revenue, closing costs and transfer tax figures listed on the GFE and those listed on the HUD-1 at closing, Mortgage Spirit adds. SOURCE: Mortgage

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