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.
DENVER, CO; June 16, 2015– 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:
“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.”