Meaghan James provides answers to HousingWire's question on how LOS providers should differentiate to help lenders today
December 29, 2017Over the last few months, Digital Risk experts have been providing their insight to help answer important questions on HMDA in the latest Housing Wire series. The latest article titled "Your top 10 HMDA questions answered: Part 10" features Digital Risk Staff Attorney Meaghan James, talking about how LOS providers should differentiate to help lenders today by capturing new reporting requirements and not to miss correspondent lenders.
"Most of the LOS providers are updating the user interfaces to ensure data capture for the new requirements," Meaghan James said. "The LOS providers also must consider the 2017 GMI data versus the new rule requirements."
She goes on the say, "This work should lead to updated LAR exports which will be reportable for 2019," James told HousingWire. "If the provider has correspondent lenders, they will need to ensure fields are exchanged or passed."
To learn more, read the full informative piece here.
Catch up on all the articles from the series here:
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