Accenture Mortgage Cadence Upgrades its Enterprise Lending Center Software to Support New Industry Requirements
June 16 2015 - 7:03AM
Business Wire
New version of Enterprise Lending Center
enables easier compliance for lenders
Accenture (NYSE:ACN) launched a new version of the Accenture
Mortgage Cadence Enterprise Lending Center platform in order to
provide new functionality around key regulatory changes, providing
tools to help lenders stay in compliance and provide better service
to customers.
New regulations, called the TILA-RESPA Integrated Disclosure
Rule, replaced two legacy loan origination documents and affect
various calculations and workflow that take place during the loan
process, requiring changes to both loan origination technology and
lender processes. The Enterprise Lending Center, one of two
SaaS-based loan origination systems offered by Accenture Mortgage
Cadence, is highly configurable and rules-based, allowing mortgage
lenders to update their systems in advance of the regulation
deadline.
Accenture Mortgage Cadence was able to roll out the Enterprise
Lending Center 8.0 release to accommodate the regulatory changes in
advance of the rule’s August 1, 2015 effective date. Enterprise
Lending Center Version 8.0 delivers the following enhanced
capabilities:
- The new Loan Estimate and Closing
Disclosure, which include the new TILA-RESPA data points and
supporting calculations;
- Functionality that will enable three
business day advance delivery of Closing Disclosures to consumers,
as required by the regulation;
- New tests and screens to provide
comparison data for fees and Changed Circumstance options;
- Updates to partner integrations to
improve the user experience with service orders, enabling loan
compliance assessments and loan-level constrained taxes and fees
estimates.
“This tremendous initiative helps to prepare our clients for the
TILA-RESPA rule well ahead of the deadline. Enterprise Lending
Center 8.0 gives lenders the opportunity to thoroughly test the two
new documents required by the TILA-RESPA Integrated Disclosure Rule
– the Loan Estimate and Closing Disclosure. Consequently, lenders
will be in a better position to execute mortgage loans in a
compliant manner with confidence by the deadline so that customers
will see no gap in services” said Trevor Gauthier, managing
director, Accenture Mortgage Cadence. “Accenture Mortgage Cadence
has a longstanding history of releasing compliance changes in
advance of their respective deadlines, and our changes around the
TILA-RESPA Integrated Disclosures continues this tradition.”
About Accenture
Accenture is a global management consulting, technology services
and outsourcing company, with more than 323,000 people serving
clients in more than 120 countries. Combining unparalleled
experience, comprehensive capabilities across all industries and
business functions, and extensive research on the world’s most
successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments. The
company generated net revenues of US$30.0 billion for the fiscal
year ended Aug. 31, 2014. Its home page is www.accenture.com.
Accenture Software combines deep technology acumen
with industry knowledge to develop differentiated software
products. It offers innovative software-based solutions,
like Accenture Mortgage Cadence, to enable organizations to
meet their business goals and achieve high performance. Its home
page is www.accenture.com/software. Accenture Mortgage
Cadence serves as the core mortgage loan-origination platform
for Accenture Credit Services, a business service providing
consulting, technology and outsourcing services to the residential
mortgage, commercial lending, leasing and automotive finance
industries.
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version on businesswire.com: http://www.businesswire.com/news/home/20150616005023/en/
AccentureJulie Bennink,
+1-312-693-7301julie.l.bennink@accenture.com
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