FirstClose, a leading provider of technology solutions for mortgage lenders nationwide, has teamed up with Ncontracts to offer FirstClose ONE platform clients multiple compliance tools, including Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), and Fair Lending Compliance solutions.
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With ever-changing regulatory requirements on the federal and local levels, lenders need to ensure they are compliance with them at all times to prevent unnecessary audits, fees and potential delays in closings. Ncontracts provides transparency across the company and allows lenders to effectively manage institutional risk.
“Risk is something every company has to address and we want to make sure our clients have the tools to do so without having to allocate additional resources to properly manage them,” said Tedd Smith, CEO and co-founder of FirstClose. “By saving companies time and money, we give them a much-needed advantage in the marketplace, the ability to focus on a positive customer engagement.”
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Ncontracts has several software applications, solutions and software suites that cover everything from enterprise risk and HMDA compliance to CRA, Fair Lending and operational risks.
“Our goal has always been to provide the industry with tools and services that will help lenders to effectively mitigate risk and serve their customers without being concerned about internal or external compliance,” said Michael Berman, Ncontracts founder and CEO. “Managing risk management in these unprecedented times means that mortgage companies are better positions to grow along strategic lines.”
