Software aids compliance by disclosing data on loans.

Computer Software Specialists Inc. is offering software called the Loan Originator for Windows in an effort to make it easier for mortgage lenders to comply with the Home Mortgage Disclosure Act.

The Carver, Mass.-based firm says that its software is designed to automate all aspects of the mortgage-lending process, including originating, processing, and secondary marketing.

As a mortgage application is entered into the system, the new module scans the Tiger/ Census Tract Strect Index and records data regarding the property in question. The index, generated by the Census Bureau every 10 years, codes every street address and parcel of real estate in the United States.

Uses Census Data

Each year, mortgage lenders are required under the federal Home Mortgage Disclosure Act to list by census tract every loan made to determine if the lender is complying with the Community Reinvestment Act and other regulations.

The modules ties into a census-tract data base, eliminating the need for bankers to look the information up in books. Because the data base is so large, Computer Specialists is selling the module in geographic sections.

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