Improving data quality and compliance remains a top priority for the mortgage industry. As the deadlines for UCD and HMDA approach closer, the time to initiate the transition is now.
Recognized by Forrester, Tavant’s testing expertise can help lenders maximize compliance, achieve digital efficiency and enhance data quality. Our testing solutions not only enable UCD integration that requires the UCD files to adhere to MISMO 3.3, but also help prepare for the upcoming new amendments to HMDA, which requires reporting more than double the number of reportable HMDA data fields.
Tavant’s regulatory and compliance expertise helped multiple lenders’ to be TRID compliant ahead of schedule. Tavant understands the need to simultaneously test and deliver the UCD/HMDA file for upcoming specifications.
UCD: Uniform Closing Disclosure
- Deadline: Sept 25
- What is required: All lenders to send the UCD XML file to GSEs (Not CD PDFs)
HMDA: Home Mortgage Disclosure Act (Regulation C)
- Deadline: Starting Jan 1, 2018
- What is required: According to Dodd-Frank Act, lenders need to disclose additional data points (Borrower age, credit score, automated underwriting etc.)
UCD /HMDA Compliance Testing with Tavant
- UCD/HMDA compliance Test scenarios to validate MISMO file for GSEs and Consumer Financial Protection Bureau (CFPB)
- UCD/HMDA Compliance checklist
- Automated UCD/HMDA compliance at Front end, API level and Database level
- Automated MISMO elements validation
- API Integration Automation
- MISMO 3.3 validations for Error/Warning handling
- Data integrations, consistency, validation, correctness and accuracy checks
For more Information
Call us on 1-866-9-TAVANT
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Email us: bizdev@tavant.com
UCD/HMDA Compliance Testing by Tavant
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