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Industry Pulse: Compliance Technology Advancements and New Office Expansions

RiskExec added Fair Servicing into its leading reporting and analysis platform for HMDA, CRA, and Fair Lending. That's because loan servicing practices have become ever more critical in the world of COVID-19 loan forbearance and modification, according to a company spokesperson.

To aid lenders and loan servicers in navigating these challenges, RiskExec this month has announced a cutting-edge compliance module dedicated to Fair Servicing. RiskExec Fair Servicing is specially configured to help lenders and servicers manage complex loan forbearances and modifications authorized under the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act.

RiskExec is a comprehensive web-based compliance reporting and analysis platform that automates Home Mortgage Disclosure Act, Community Reinvestment Act, redlining analysis, and fair lending compliance processes. Developed by Asurity, which delivers end-to-end products and services for the mortgage lending market, RiskExec monitors borrower treatment and manages regulatory compliance obligations for lenders. Asurity is "proud to add Fair Servicing to our product suite, making us the most integrated fair lending compliance solution on the market," said Dr. Anurag Agarwal, Founder, President and Chief Architect of RiskExec. "Compliance is very complicated. Our clients must react quickly to the evolving compliance landscape, and RiskExec’s rapid development process keeps them current."

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Best Homes Title Agency (BHT), a provider of residential and commercial title insurance, announced the opening of their newest office location in Gateway Executive Park, at 1821 Walden Office Square Suite 400, Schaumburg, IL 60173--company executives say the new location is set to service their expanding regional market presence.

“The opening of Best Homes Title Agency's newest Chicago office was an important step in continuing to offer our clients the highest level of convenience and customer service” said Founder and President Neil Sherman. “As a company we are continuing to grow and we needed our regional footprint to support our clients closer to home.”

He said the title industry has continued to evolve over the last several months and BHT has been at the forefront of these swift changes, adding, "Today, as a result of the pandemic, we are as much a technology company as we are a title and escrow services business. We will continue to enhance our services and service areas to evolve with and for our customers and the industry as a whole. We are excited to expand our team and look forward to being in the Greater Chicago area."

About Author: Christina Hughes Babb

Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others.
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