Credit Plus | UniversalCIS, a provider of mortgage technology, verifications and business credit reports, announced that through its QC Review product suite, it is now offering HMDA LAR reports, a solution that helps lenders prevent loan defects throughout the mortgage lifecycle and more easily comply with HMDA requirements.
QC Review’s HMDA LAR reports validate the data lenders collect from borrowers and applicants and also provide a data discrepancy analysis so they can find opportunities for improvement. It enables lenders to complete and file their reporting forms effectively and efficiently while flagging defects – quickly identifying incorrect loan file attributes and developing trends that might cause data integrity risks.
“Lenders are having to pay more attention to data quality, and increased loan volume this past year meant a greater chance for errors,” said Greg Holmes, Chief Revenue Officer at Credit Plus | UniversalCIS. “For filing reports for regulators and ensuring loan quality for investors, our services make HMDA LAR annual reporting and QC Review simple, accurate, and stress-free.”
For lenders who prefer to complete HMDA LAR reports themselves, Credit Plus | UniversalCIS’s QC Review technology allows them to complete their reporting accurately on its user-friendly platform.
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