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Up at Night: Compliance Related Buybacks

Buybacks can happen for a variety of compliance reasons. We just met with a prospective client who had to buyback 7 loans and sell them as scratch and dent because the points and fees on these loans exceeded the 3% Qualified Mortgage threshold. A competitor’s compliance solution did not catch this issue. 

This would  not have happened with ComplianceEase, SitusAMC’s automated regulatory compliance system. Our Compliance Audit report would have flagged this issue – giving the lender the chance to cure these errors pre-closing and avoid the costly buybacks.

This is just one of the reasons why ComplianceEase is trusted by leading mortgage originators, capital markets participants and regulators.

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