When every loan matters, automated compliance testing mitigates fallout due to avoidable or easily detectable compliance errors.

LenderLogix, Buffalo, N.Y., announced its streamlined point-of-sale LiteSpeed now offers a Spanish version of the residential loan application to support communication with Spanish-speaking borrowers in their native language.

Tthere is nothing inherently wrong with traditional credit scoring models. In fact, they are excellent tools for gaining insight into consumers’ repayment history. However, there is a problem with the way they are treated as the end-all-be-all mortgage underwriting metric.

Lenders are squeezed on both sides – the need to improve loan profitability and at the same time ensure that their loan quality meets the new compliance criteria. Make no mistake, these two are related—compliance directly impacts profitability (and the lender’s reputation).

Risk management is a critical aspect of banking and mortgage operations. However, one area that often draws resistance is risk management controls. The concept may seem intimidating or overwhelming, but when you break down the components, you’ll find risk management controls aren’t nearly as complicated as you think.

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