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It begins with an overview of mortgage lending and how the mortgage market works, then covers the license requirements in all 50 states; compensation and how originators make money in the mortgage market; federal regulations, including the Truth-in-Lending Act, the Equal Credit Opportunity Act, the Real Estate Settlement and Procedures Act, and other regulations; the underwriting and approval guidelines for conforming loans; non-traditional and government loans; and general real estate purchase information.
Appleton, Wisconsin, a complete product and pricing platform, has enhanced its solutions to help lenders maintain compliance with federal Truth-in-Lending Act (TILA) changes that were scheduled to take effect on April 1, 2011, while at the same time continuing to deliver intuitive, real-time, up-to the-minute loan pricing with integrated marketing and secondary tools.
The integration provides joint Interthinx and MortgageFlex customers the ability to perform fraud-prevention and risk-mitigation tests on loans before approval and to verify that approved loans are in compliance with hundreds of federal and state anti-predatory-lending requirements, including the Home Ownership and Equity Protection Act (HOEPA) section 35, Truth-In-Lending Act (TILL) and Mortgage Disclosure Improvement Act (MDIA) tolerances.