MortgageFlex Systems Inc. and Lenders Compliance Group recently announced a partnership designed to assist customers with compliance changes brought about by the TILA-RESPA integrated mortgage disclosure form changes next year.
MortgageFlex’s LoanQuest loan origination system will be used by Lenders Compliance Group to “provide services on an ongoing basis,” MortgageFlex Chief Operating Officer Craig Bechtle said.
In addition, Lenders Compliance Group will interact with customers during MortgageFlex’s monthly compliance conference calls to answer or clarify concerns.
“We feel strongly that having an independent resource and compliance partner will provide a superior lending experience for our customers, and we’re excited to offer this extra measure of security,” MortgageFlex Senior Vice President, Business Development John McCrea said.
“Through our partnership with MortgageFlex, we plan to enhance its mission of providing hands-on access to timely and competent regulatory compliance guidance, while also ensuring that the LoanQuest LOS fully meets the CFPB standards,” Lenders Compliance President Jonathan Fox said.
MortgageFlex says LoanQuest has continual compliance calculations backed up with seamless integrations to third-party documents providers.
“While the upcoming RESPA changes are being touted as beastly by some vendors, there’s no reason for panic if your technology vendor is acting proactively and taking their customers’ needs into consideration,” Bechtle said.
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