PCLender.com, a fully hosted Web-based software and services solutions provider to midsized mortgage bankers and financial institutions, has developed and issued a comprehensive 18-point checklist of mortgage banking compliance requirements to help lenders determine the adequacy of their process automation and management strategies to minimize compliance risk.
Including federal disclosure requirements covering initial application through data and identity security; state laws concerning brokering loans, license tracking and flood insurance; fraud, anti-terrorism and reporting oversight by government agencies; and secondary market and investor guidelines, PCLender's comprehensive compliance checklist helps mortgage bankers' manage their most critical responsibilities, the company says.
‘Mortgage bankers operating in the post-meltdown era are under mounting pressure to meet proliferating, interdependent compliance demands,’ says Lionel Urban, PCLender founder. ‘As a service to its customers and to the industry, PCLender audited the current compliance landscape to ensure the robust and comprehensive compliance performance of its InHouse Mortgage enterprise mortgage lending and business process automation platform.’
Source: PCLender.com