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Cypress Software Mark IV - Mortgage Processor Module
In an environment of ever-changing regulatory legislation, banks are coming under greater scrutiny by examiners while consumers and borrowers are becoming more savvy into the laws surrounding mortgage lending. Penalties are increasing for lenders as the due diligence required to make a sound mortgage credit decision is becoming more and more difficult.
By automating not only the work-flow process, but also providing bank-defined administrative controls, Cypress has developed a risk management-based module that provides our clients with the tools necessary to reduce errors and better track allowable exceptions.
Updated in December 2009 to accommodate recent industry regulations, our clients now have one system – our Mark IV Mortgage Processor Module – to perform all the requisite underwriting and documentation tasks with confidence that all government-regulated thresholds and guidelines are being met throughout their lending organization.
We believe this solution warrants an Innovative Solutions Award because it:
- Helped clear the muddy waters of new regulations in a time of confusion for many financial institutions
- Ensured that any users of our Mark IV Mortgage Processor Module were completely compliant with new regulations (i.e. RESPA).
- Involved specific collaboration and input between our team, our clients and the government.
- Developed a mortgage application processing and underwriting system that was not only fully compliant, but improved overall risk management and lending efficiency.
Cypress Software Systems
www.go-cypress.com