Accenture Mortgage Cadence Upgrades its Enterprise Lending Center Software to Support New Industry Requirements
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:- 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.