My boss likes to introduce new products and worry about the disclosures later. The bank starting offering HELOC's but we weren't prepared. Now we need to start sending monthly statements. What do you do? Are there fenders that will help or a computer program for this?

Contact your core system vendor or the vendor that supports your loan servicing software.

Hopefully you had the proper plan disclosures in place and made the proper Reg. Z disclosures.

If you already have HELOCs on the books and don't have the means to service them you are sitting on regulatory time bomb because you may not be able to get your servicing up to speed for 60 to 90 days. This is generally not something you can just flip a switch to turn on.

Good luck.