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LendersLogic™ Upgrade Meets New FTC and RESPA Requirements

Consumer-direct solution adds enhanced security 
and GFE management to meet 2010 regulations

Boston – March 1, 2010 – Is your web based mortgage application in compliance with new 2010 RESPA Regulations and FTC requirements?

LendersLogic, Inc. today announced the release of LendersLogic v3.2 mortgage application software with new password and automated document management features aimed at helping originators meet new 2010 RESPA Regulations and FTC requirements for consumer data protection.

“Today lenders not only have to be more diligent in their underwriting activities, they also have to meet an ever changing list of regulations and requirements,” said Wayne Howe, Lenders Logic president and general manager. “LendersLogic is not only committed to make sure originators keep their online application in compliance, but the company makes sure to continue to deliver a solution that provides a positive online mortgage experience to borrowers.”

Lenders today is used by banks and credit unions all across the nation and has helped customers originate billions of dollars in online volume.

Available now, LendersLogic v3.2 meets new underwriting mandates and FTC Red Flag security requirements.

New Features

LendersLogic v3.2

  • New password syntax parameters that give lenders the ability to specify password syntax and parameters to meet each originators security requirements
  • New lost password functionality that will allow a user with an active account and working e-mail to reset their password.
  • New Lost pass phrase function that will allow a user with an active account and working e-mail to recover the lost pass phrase.
  • ” Management options with more flexibility in selecting among purchase, pre-approval or refinance tracks.
  • ” Document delivery options with greater flexibility in meeting new RESPA 2010 Regulations for the Good Faith Estimate (GFE).

About LendersLogic

LendersLogic provides web-based application decisioning for the mortgage origination industry by offering software as a service (SaaS). LendersLogic reduces lenders IT dependency and speeds up deployment of web based origination. LendersLogic advanced technology using MISMO standards provides originators improved pull through rates and lowers the cost of direct origination. continued…

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