Always watching compliance

Docs on Demand Compliance Audits

The Docs on Demand closing document preparation and compliance system performs hundreds of automatic compliance audits on the loan data entered. The system issues fatal errors and warning messages to the user. The loan will not proceed with any fatal errors and the user is prompted to review all warning messages. The compliance audits performed for a particular loan are customized depending on the loan type, loan purpose, loan product, investor, and many other criteria. Docs on Demand offers and produces a variety of on-screen reports, which may be printed, for the compliance audits that it performs. Compliance audit reports may be run at any time for a loan in Docs on Demand.

Some of the primary Docs on Demand compliance audits include:

  • TILA-RESPA Integrated Disclosures (TRID) Fee Variance Test
  • Section 32 High Cost Loan Test
  • Section 35 Higher Priced Mortgage Loan (HPML) Test
  • Mortgage Disclosure Improvement Act (MDIA) APR Test
  • Ability to Repay (ATR) Qualified Mortgage (QM) 3% Fees and Points Test
  • Mortgage Insurance Compliance Audit
  • Escrow Compliance Audit

TRID Fee Variance Test

The TRID fee variance test in Docs on Demand automatically compares the loan fees on the Loan Estimate to the loan fees on the Closing Disclosure.