Did you know that PointCentral offers you the flexibility to determine the processes your business needs to implement and enforce effective compliance procedures company-wide?
Templates make data entry consistent and accurate when completing the GFE and other regulated forms. A template is a loan file that has been pre-populated with data. You can create a number of different templates for different kinds of loans, GFE fees, etc. If an originator chooses not to use a company-established template, a hard-stop that you define will prevent further processing until all required fields are completed. Using the template will pre-populate the correct fields and allow the originator to continue with the rest of the application.
Complying with MDIA and TILA requires more workflow control. PointCentral allows you to customize rules that trigger based on the conditions that occur in the loan file. For instance, once the GFE and TIL are disclosed, you can trigger a pop-up window that requests that the originator complete additional fields, such as the date of disclosure, APR, and method of delivery. Additionally, since RESPA has zero-tolerance for changing certain fees on the GFE, you can create a rule that disables those particular fields to prevent alterations after initial disclosures have been issued.
If you’d like to see workflow control using rules and templates in action, please contact your account representative at 800-362-2599 for an instructional demo.