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Mortgage lenders have to comply with a range of federal and state regulations. Such regulations are extremely binding and are complex. It becomes an uphill task for lenders to execute all the intricate mortgage lending processes while maintaining strict regulatory adherence. Each year the regulations undergo significant changes that bring fresh sets of complexities for mortgage lenders. In 2022, mortgage lending is slated for additional binding regulatory scrutiny. The Consumer Financial Protection Bureau (CFPB) will…

The mortgage industry runs on multiple rules. These rules govern the way business is conducted in the industry. Such rules pertain to compliance, credit score, eligibility, workflow, and many more. There are two major challenges when it comes to managing these rules. Firstly, most of these business rules are extremely dynamic in nature and change at the drop of a pin. Secondly, the rules are haphazardly distributed across multiple mortgage departments. These two challenges make…