With the increased scrutiny around the preparation of the Loan Estimate, lenders must increase the quality and consistency of the processes used to calculate the projected tax amounts listed in the documentation provided to the borrower. Although the current RESPA-TILA regulation calls for lenders to use reliable sources and methods to determine accurate tax amounts, lenders may be gathering this data from several disparate places, including directly from community websites, from Realtors, or even from borrowers. This white paper outlines the benefits lenders will gain from adopting a unique and comprehensive tax estimation solution, which include ease of compliance, process cycle time reduction, increased transparency and productivity.

Publisher: CoreLogic
Date: December 2018