Technology | Wiz Sentinel | Details

Wiz Sentinel® Product Details

Wiz Sentinel Makes Compliance-on-Demand a Reality

Wiz Sentinel is a web-based solution that analyzes loans, either in real time at the point of sale or in batch for post-closing audit, to determine potential violations of prohibited lending practices. It compares user-entered loan parameters with your loan program information, HUD fees, and federal, state and municipal compliance regulations.

With this product, you can raise compliance diligence levels at any point in the loan process. A results page displays whether the loan is acceptable, cautionary or in violation of statutory limits. Results can be viewed by federal, state and municipal level. The differences are clearly highlighted in actual and expected results, and the user receives instruction on how to correct the compliance errors prior to funding the loan.

The Wiz Sentinel compliance engine automatically determines which laws a particular loan is subject to based on the effective date of legislation, the version of the law in effect at the time the loan was made and considers any allowable exclusions so as not to return a false positive result. Property address information may be sent to determine whether a loan is subject to local legislation according to the integrated geocoder.

During implementation you will receive our attorneys’ interpretations of the anti-predatory lending legislation covered in the rules engine. Our Senior Regulatory Consultant will then review the high cost limits and answers questions about the information.

We ensure the product remains compliant with present and historical anti-predatory lending legislation and will update the product as legislation changes. As part of our Wiz Sentinel user group, you will receive e-mails advising of proposed and enacting legislative changes and details of how the product will be updated in order to maintain compliance.

Benefits

Manage your portfolio for predatory lending and ratings agencies, flag loans for profit and protection, and validate loan policies, fees and APR calculation.

Screen entire portfolios of loans for predatory lending compliance, and view management summary reports that display aggregate results. These screening capabilities also help you pass Wall Street rating agency compliance reviews.

It also protects you by flagging high-cost loans before you close or acquire them on the secondary market.

Increase the quality of your loan portfolio by identifying problems before loans are closed or acquired in the secondary market.

Seamlessly integrate into your LOS system or delivered with a browser interface.

Finally, you can also outsource all or any part of your anti-predatory lending compliance program to us. We have the expertise and resources to provide program monitoring, loan portfolio analysis, regulatory reports and training.

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