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#2165241 - 02/20/18 09:49 PM CLTV and Compliance Relief
laf0915 Offline
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Joined: May 2006
Posts: 236
I am having an issue when I input CLTV into Compliance Relief. Example Ln amount $125,393.48 Value $227,000. Loan proposal shows 55% LTV. When I input that I get an error as follows: CLTV, Loan amount and Property value not NA and CLTV< LTV. If I enter 55.3 CLTV I get no error.

The CFPB Reference Chart says to use decimal places only if ratio relied on uses decimal places. Any compliance relief users that can help me?

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#2165243 - 02/20/18 09:54 PM Re: CLTV and Compliance Relief laf0915
raitchjay Online
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OK
That's QuestSoft right? All i know is that with the issues i've found with them, their stock answer right now is "wait until we get our March update in". They claim with the different LOS's they use and with 2017 HMDA filing season in full swing, they are waiting until then to tackle those issues. I'm guessing your issue might be included.
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#2165250 - 02/20/18 10:36 PM Re: CLTV and Compliance Relief raitchjay
Sinatra Fan Offline
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We had that issue as well, but I'm not sure whether the problem was with Encompass or Compliance Relief. And I do believe QuestSoft is aware of and working on the issue.
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#2165266 - 02/21/18 01:21 PM Re: CLTV and Compliance Relief Sinatra Fan
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Received the following in an e-mail late yesterday from QuestSoft:

The CFPB has told us that less than 40% of HMDA filers have submitted as of February 16th. They have asked us to remind our customers to upload their submissions on time so that they can achieve their goal of publishing the data by April; five months ahead of the historical fall release. In order to meet this challenge we are deferring all Year 2018 support questions until March 2nd. We are working closely with over 40 different loan origination systems to ensure 2018 data validity and we appreciate your feedback and patience as we help our 2500 customers submit their 2017 HMDA and prepare for next year’s first HMDA filings with the new fields.

This is the first I heard that CFPB intends to release the HMDA that early.
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Management is doing things right; leadership is doing the right things. Peter Drucker

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#2165329 - 02/21/18 05:49 PM Re: CLTV and Compliance Relief Sinatra Fan
laf0915 Offline
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Joined: May 2006
Posts: 236
Thanks for the responses. I'll just sit tight and hope it gets resolved!

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