Regulators Call for Industry to Integrate Data Standards with Loan Origination Systems

Ballard Spahr LLP
Contact

Ballard Spahr LLP

The Conference of State Bank Supervisors (CSBS) and American Association of Residential Mortgage Regulators (AARMR) recently issued a press release on behalf of their member state regulator agencies. This press release encourages the mortgage industry to adopt and integrate the Lending Examination Format (LEF) data standard with mortgage loan origination software in order to provide a simplified data transfer process during electronic regulatory exams. By having cleanly mapped data, the quality of loan reviews and examination processes would be enhanced, according to the regulators. Moving forward, state regulators are planning to assist vendors that incorporate LEF data export abilities into their individual systems.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ballard Spahr LLP | Attorney Advertising

Written by:

Ballard Spahr LLP
Contact
more
less

Ballard Spahr LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide