Flatworld Mortgage specializes in providing QC services for mortgage processes to ensure compliance with guidelines from federal bodies such as Fannie Mae, Freddie Mac, FHA (including HECM), USDA, VA etc. Additionally, we also take care of compliance requirements as required by respective states. We bank on state-of-the-art compliance systems, multi-tier reviews and leading reporting platforms to enable you meet investor guidelines and time frames. Our compliance check program covers critical stages such as mortgage pre-closing, underwriting, closing and post-closing.
Our service for TRID review enables lenders to comply with disclosure timelines, fee changes, tolerance limits and presence of Change of Circumstance as needed. TRID focuses on ensuring your borrowers have a clear understanding of the terms of their loan before closing and our services ensures you follow all the right steps per TRID guidelines. We assist you to provide borrowers with a more transparent and accurate loan estimate and closing disclosure with estimated monthly payment costs, taxes, insurance, and closing costs.
We help you follow HOEPA rule requirements by ensuring you provide additional disclosures for high-cost mortgage provisions. We also help you avoid usage of unapproved loan terms. As required by the rule we support you with a ready list of home ownership counseling organizations and other specific disclosure requirements for additional consumer protection.
With this service we ensure you do not fall foul of the rule that prohibits you from discriminating against applicants on the basis of color, race, religion, sex, national origin, marital-status and so on before, during and after the sanction of mortgage loan.
Our experts specialize in helping our clients understand implement and comply with the Fair Credit Reporting Act and Regulation. We ensure data from consumer reports are accessed and collected in a fair and accurate manner, retain the data for a specified period and regulate sharing with others—including borrowers themselves.
In keeping with the HMDA act, we help you maintain, report, and publicly disclose loan-level data about mortgages. In the process we ensure that you are actively participating in serving housing needs of your communities; furnish relevant information to public officials’ information and be transparent about lending patterns that you follow.
We assist lenders insulate themselves from the risks of defaults and foreclosure with a PMI coverage. With this coverage, we ensure our clients are able to realize the full costs related to the resale of foreclosed property as well as other associated costs such as insurance policies and taxes, paid before the resale.
We help lenders who operate in multiple jurisdictions comply with different state laws. Given that different states have different licensing requirements, fee restrictions and predatory lending laws, lenders find it difficult to comply with the different rules. Our understanding of different state requirements ensures full compliance in every state.
Our experts have extensive knowledge of mortgage compliance laws. They review documents in strict compliance with all national and state laws as well as professional standards, accepted practices, and internal protocols. Their subject matter expertise has equipped them with the ability to not just understand current requirements, but even anticipate potential changes, and initiate timely changes to process, policy, training and reporting.
We will connect with you within 24 hours!
Flatworld Mortgage Solutions is not a lender and does not provide loans or mortgages or accept loan applications.
