Discover how Propel™ streamlines DSCR loan production. Generate compliant DSCR documentation nationwide, close faster, and scale investor lending with seamless integration and compliance-first automation.
This new rule, effective July 1, 2020, will increase the permanent threshold for collecting and reporting data about closed-end mortgage loans from 25 to 100 loans. Likewise, the threshold for collecting and reporting data about open-end lines of credit has increased from 100 to 200, effective January 1, 2022.
For more information about these changes directly from the CFPB, please reference the links below:
The above statements do not reflect regulatory guidance from Asurity. Please consult your counsel for applicability of this guidance.
Discover how Propel™ streamlines DSCR loan production. Generate compliant DSCR documentation nationwide, close faster, and scale investor lending with seamless integration and compliance-first automation.
Find out why a top-ten mortgage lender with a proprietary loan origination system (LOS) needed to convert from a legacy document platform.
Learn about the changes of state consumer protection and the responsibility of financial services institutions to pursue operational excellence and a culture of compliance.