LendingQB Add New Qualified Mortgage Rules

LendingQB announced the release of the Qualified Mortgage (QM) functionality within its platform.

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“With the new QM release, LendingQB demonstrates dedication to the compliance aspect of its Lean Lending strategy,” said Binh Dang, LendingQB president.

Costa Mesa, CA (PRWEB) March 04, 2014

LendingQB, a provider of end-to-end loan origination software (LOS), announced the release of the Qualified Mortgage (QM) functionality within its platform, which is compliant with the Consumer Financial Protection Bureau (CFPB). The QM functionality checks the limits on loan features, auto checks for points/fee caps, verifies test performances and calculation results for underwriting requirements.     

  • Workflow restrictions and business rules can be applied to a loan to prevent progression of ineligible loans based on its QM results.
  • QM status is validated by LendingQB third party compliance vendors. For example, lenders can add QM lending policies within the compliance engine integration in LendingQB’s platform.
  • Loan originators can view preliminary QM status to avoid submission of non-compliant loan programs and rate options. A QM column added to the PriceMyLoan pricing engine and loan certificates corresponds with provisional QM eligibility status.

“With the new QM release, LendingQB demonstrates dedication to the compliance aspect of its Lean Lending strategy,” said Binh Dang, LendingQB president.

About LendingQB
LendingQB is a provider of 100% web browser-based, end-to-end loan origination software offering residential mortgage banking organizations lean strategies for optimal performance resulting in faster cycle time and lower costs per loan. For more information, please call 888.285.3912 or visit http://www.lendingqb.com.


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