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Automation Enhances Digital Compliance for Mortgage Software

Xoriant Marketing
Xoriant-Digital-Compliance-for-Mortgage

Client Background

The client is a leading mortgage origination software provider managing huge loan application volumes every month, while working with thousands of lenders. To comply with changes in the Uniform Residential Loan Application (URLA) for the mortgage industry, the loan origination software was to be upgraded to ensure support for the new form with a new workflow.  Additional digital compliance requirements included automation of data compliance reviews. The client wanted to roll out the changes to help lenders capture more relevant borrower information earlier in the loan cycle and support the industry‚Äôs progress in compliance and digitization. As a trusted technology partner for more than 5 years,  Xoriant was engaged to support the client‚Äôs digital compliance transformation.

Xoriant Solution | Key Contributions

Xoriant helped modernize the software’s URLA features, improving compatibility with current mortgage practices, underwriting needs, and recent regulations. The team also automated, upgraded and enhanced features and processes including:

URLA 2020 Compliance Support:

  • Created and implemented Uniform Loan Application Dataset (ULAD) Framework successfully. Performed revisions in the software‚Äôs existing URLA 2009 version to align with the new URLA 2020 Compliance. Redesigned the format of URLA forms in the software to accommodate new fields and workflows including URLA Pages 1-4, URLA Lender, Borrower Summary forms, etc.
  • Revised the software‚Äôs URLA forms using a unique Form Building Framework which consists of a Form Builder and a Form Builder React Renderer.
  • Facilitated the collection and analysis of consistent data for the software‚Äôs URLA. The data points feeding into the URLA are standardized and expanded with the Uniform Loan Application Dataset (ULAD), which assigns each data point an enumeration compatible with MISMO 3.4 standards. 
  • Handled the entire development and testing of the web and mobile versions of the software‚Äôs new URLA compliance forms including UI, triggers, scripting logic, etc. Contributed actively to deployment and validation activities across all environments ‚Äď quality assurance (QA), staging (STG), concept release (CR), and production (PROD).
  • Used the platform UI component library for consistent UI across all URLA forms. Provided ease of dashboard-based navigation for web and mobile, including Inter-form navigation to save time going back and forth.
  • Prevented vulnerabilities using WhiteSource scanning for code quality and coverage. Used Secure Interface Framework for data sharing between host and guest apps. Provided 100% UI test automation and end-to-end flows with Selenium WebDriver and Java.

Automation of Data Compliance Reviews:

  • Automated reviews by building functionality to order the correct review report for different loan types. The service acts as a bridge between the main product and compliance engine by mapping the required loan field values. Web APIs can be used by different systems to order the review report.
  • Developed XML generation logic from the loan data which can be sent to the compliance engine to perform the loan review. Supported the compliance review process by building the Restful Web APIs that will combine the XML generation logic and the action of getting the calls to other services. These next-gen APIs will be called inside the main product to serve the compliance review process for different types of customers.
  • Built the next-gen Web APIs for two flows ‚Äď Correspondent and Retail. 
  • Contributed to implementation of asynchronous processing for services in Correspondent and Retail flows to improve performance.
  • Contributed to writing unit tests for next-gen services for both flows and created the user test scenarios for the testing tool, enabling the QA team to perform regression testing and user testing during deployment.

Key Benefits

  • Enhanced the software‚Äôs existing URLA as per URLA 2020 compliance requirements with automation of ULDD (Uniform Loan Delivery Dataset).
  • Improved flexibility and completeness in forms management with modifications in URLA fields and options.
  • Accelerated compliance checks for KBYO, ATR/QM, HOEPA, HMDA, FHA, TILA and NMLS with automation of data compliance reviews.
  • Gave management the ability to deploy robust compliance controls consistently and rapidly across all products and business channels prior to loan closing or purchase with automated reviews.
  • Ensured loans comply with federal and state regulatory compliance requirements, as well as investor requirements.

Technology Transformation

URLA 2020 Compliance:

  • React; Angular; SSF framework; Jenkins; Selenium WebDriver; PostMan

Automation of Data Compliance Reviews:

  • Asp.Net/Core Web API; C#; WinForms; Postman; FluentAssert; RESTful; AWS; Kibana; WhiteSource; Checkmarx; Jenkins; Terraform; Atlassian Tools