Mortech Introduces Live CFPB Compliance Management Suite

Mortech, a Zillow mortgage solutions subsidiary, has added mortgage loan and securities pricing engine capabilities to Marksman, its set of compliance tools.

The new tool enables loan originators to not only ensure the loans comply with CFPB requirements before the loan application enters the system, but also offers “a detailed compliance worksheet for loan officers,” executives note.

The goal is to provide the service “far ahead of the compliance deadline,” says Tom Erickson, mortgage industry and compliance specialist for Mortech, “to allow users to test the suite and offer feedback.” The tools are expected to simplify compliance and enable lenders to identify compliance issues early in the loan process.

The Marksman Compliance Suite is designed to manage every aspect of CFPB compliance, including the specific compliance checks required for the Qualified Mortgage rule, such as applicable debt-to-income ratios, fees and points calculation, and loan risk requirements.

It provides a complete overview of the loan scenario, both at the application stage and when the loan is locked, preventing accidental loan approvals. It also provides higher-priced mortgage loan checks, investor eligibility through an exclusive partnership with AllRegs, and a workflow report that allows the loan officer to view and print an anti-steering disclosure form.

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