|[January 17, 2013]
DataQuick Helps Lenders Respond to Ability-to-Repay Requirements, Qualified Mortgage Rules
SAN DIEGO --(Business Wire)--
The Dodd-Frank Ability-to-Repay requirements and the Consumer Financial
Protection Bureau's (CFPB) Qualified Mortgage (QM) rules present
significant, new compliance challenges. DataQuick®, a provider of
advanced real estate information solutions powered by data, analytics,
and decisioning, has qualification and decisioning solutions available
now to meet these new requirements and ensure ongoing operational
DataQuick, through its MindBox® decisioning solution, has delivered
qualification engines for more than 20 years to enhance operational
efficiency and accuracy in most stages within the loan life-cycle.
MindBox's decisioning capabilities can now be easily adapted to meet the
expanded requirements of Dodd-Frank and the CFPB.
"The challenge for lenders is to meet these new compliance requirements
efficiently and in a timely fashion," said John Walsh, president of
DataQuick. "MindBox does this today and ensures a
comprehensive, consistent and acurate review, so our customers have the
confidence that every loan is decisioned to meet regulatory compliance."
The company also offers DataQuick Credit Solutions, a National Property
Database and income verification and fraud indication services to
address not only the critical elements of ability-to-repay and QM, but
also full risk analysis.
San Diego-based DataQuick, a Decision Insight Information Group Company,
delivers advanced information solutions powered by higher quality data,
innovative analytics and automated decisioning across a national
footprint. The company drives better decision making and improved
profitability for the real estate, mortgage lending and secondary
investor markets. DataQuick's integrated solutions include property data
and analytics, appraisals and non-appraisal evaluations, flood
determinations, mortgage credit reports, automated valuation models,
automated decisioning software, Title insurance and property
information, property research portals and marketing tools. For more
information, visit the company's website at www.dataquick.com,
or on Twitter (News - Alert) at @DataQuick.
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