Introducing RegComplyGPT, the premier AI-powered regulatory compliance assistant tailored for mortgage professionals. RegComplyGPT enhances efficiency, helps mitigates risk, and ensures regulatory adherence, empowering compliance professionals to confidently navigate the complex landscape of mortgage regulations. Strengthen your compliance strategy with RegComplyGPT, allowing you to focus on what truly matters—serving your clients with efficiency and precision. Subscribe for news and updates to stay informed and be the first to know when new enhancements are released.

”AI is not going to take your job. It's the person who uses AI that is going to take your job.”

Warning: Please refrain from uploading non-public personal information (NPPI) or any sensitive company information into RegComplyGPT or other AI systems, as they may not be secure. Consult your IT department about deploying RegComplyGPT in a secure environment, such as the Azure OpenAI Service, to ensure the security of NPPI and sensitive company information.

AI-Assisted COMPLIANCE

Compliance Research

Submit prompts to receive comprehensive and in-depth analysis. For example, prompt RegComplyGPT for a detailed summary of the latest CFPB proposed regulations on mortgage servicing. If you'd like the analysis to focus on a specific area, such as the financial impact of the regulation, be sure to include that in your request for a more tailored response.

Document Analysis

Upload a document and prompt RegComplyGPT to deliver a detailed summary of key compliance and change management issues. For example, upload the latest HUD Mortgagee Letter and prompt RegComplyGPT for an in-depth summary and analysis, addressing all compliance and financial risks pertinent to a mortgage servicer.

Regulatory Exam Responses

Upload an examination response and request RegComplyGPT to revise it, incorporating relevant supporting details. For example, ask RegComplyGPT to review a response concerning loss mitigation, ensuring that all arguments align with CFPB servicing rules, the HUD Handbook, applicable Mortgagee Letters, and other relevant regulations.

Correspondence Assistance

Prompt RegComplyGPT to draft a letter to a consumer. For instance, request a letter notifying a borrower that their loan is not VA-insured because the originator did not meet the seasoning requirements. You can also prompt RegComplyGPT to explain any potential impacts on the borrower and outline the available options for moving forward.

RegComplyGPT SAMPLE PROMPTS

    • Have you evaluated the potential impact of the latest CFPB regulations on your mortgage servicing operations? Let’s explore actionable strategies for integrating these regulatory changes efficiently while maintaining compliance and operational excellence. How can we assist in identifying key compliance gaps and implementing tailored solutions to address them?

    • Would you like assistance drafting a detailed memorandum on a specific mortgage-related regulation or topic? Please provide the regulation or topic you’d like covered, and we can create a comprehensive and well-organized document that highlights key requirements, compliance implications, and actionable recommendations tailored to your needs.

    • Can you evaluate our loan disclosure forms to ensure full compliance with the Truth in Lending Act (TILA) requirements? A detailed review to identify any gaps or inconsistencies with regulatory standards, along with recommendations for improvements, would be highly beneficial.

    • Can you outline the key RESPA regulations that must be followed during the loan settlement process? A detailed summary of compliance requirements, including disclosure obligations and prohibited practices, would help ensure adherence to regulatory standards.

    • Can you assist in preparing our HMDA data submission to ensure full compliance with regulatory requirements? A comprehensive review of data accuracy, reporting formats, and key compliance checkpoints would be invaluable to avoid any discrepancies or violations.

    • Can you review our advertising materials to ensure they comply with the Fair Housing Act? A thorough analysis to identify any potential violations or discriminatory language, along with recommendations for alignment with fair housing standards, would be greatly appreciated.

    • Can you provide a detailed outline of the CFPB rules that impact our mortgage lending practices? A comprehensive breakdown of key regulations, their compliance requirements, and practical implications for our operations would be extremely helpful in ensuring adherence to current standards.

    • Can you outline our obligations under the Fair Credit Reporting Act (FCRA) when utilizing consumer credit reports? A detailed explanation of compliance requirements, including permissible purposes, disclosure obligations, and adverse action protocols, would be highly valuable for ensuring adherence to regulatory standards.

    • Can you assist us in developing a comprehensive privacy policy that ensures full compliance with the Gramm-Leach-Bliley Act (GLBA)? A detailed framework addressing the key requirements for safeguarding consumer data, including disclosure obligations, security measures, and opt-out provisions, would be greatly beneficial.

    • Can you outline the essential elements our Anti-Money Laundering (AML) compliance program should include to meet regulatory standards? A detailed breakdown of required components, such as risk assessment, customer due diligence, suspicious activity monitoring, and reporting protocols, would be invaluable for ensuring full compliance.

    • Can you provide detailed guidance on when and how to file Suspicious Activity Reports (SARs) during the mortgage lending process? A clear explanation of the triggers, timelines, and procedural requirements for filing SARs would be highly valuable to ensure compliance with AML regulations.

    • Can you advise on implementing effective Know Your Customer (KYC) procedures for new mortgage applicants? A detailed framework covering identity verification, risk assessment, and ongoing monitoring practices would be invaluable for ensuring compliance with AML regulations and enhancing our customer due diligence processes.

    • Can you outline the steps we should take to comply with the FTC's Safeguards Rule for protecting customer information? A detailed action plan covering risk assessments, data protection measures, employee training, and incident response protocols would be highly beneficial to ensure compliance and safeguard sensitive information effectively.

    • Can you outline a data breach response plan that complies with regulatory requirements for mortgage lenders? A comprehensive framework addressing immediate containment, notification protocols, regulatory reporting, and post-incident review would be invaluable for ensuring compliance and protecting customer information.

    • Can you provide guidance on how to ensure our third-party vendors comply with our data security policies? A detailed strategy covering vendor risk assessments, contract requirements, ongoing monitoring, and compliance audits would be invaluable for safeguarding sensitive information and meeting regulatory standards.

    • Can you review our marketing campaign to ensure compliance with FTC and CFPB advertising regulations? A thorough analysis of the campaign’s content, claims, and disclosures, along with recommendations to address any potential compliance issues, would be greatly appreciated to align with regulatory standards.

    • Can you provide detailed guidelines for promoting mortgage products on social media platforms? A comprehensive overview of compliance requirements, including clear and conspicuous disclosures, avoiding misleading claims, and adhering to FTC and CFPB advertising regulations, would be highly beneficial for ensuring compliant and effective campaigns.

    • Can you advise on the proper use of trigger terms in our mortgage advertising materials? A detailed explanation of compliance requirements under TILA and other applicable regulations, including disclosure obligations and best practices for clear and accurate communication, would be invaluable for ensuring adherence to advertising standards.

    • Are you interested in discussing best practices for preparing for CFPB examinations? I can provide insights into key areas of focus, highlight potential readiness gaps, and offer actionable recommendations to ensure full compliance and a smooth examination process.

    • Can you outline the key areas to focus on during an internal compliance audit of the loss mitigation department? A detailed framework addressing regulatory requirements, documentation accuracy, borrower communication, and adherence to CFPB guidelines would be invaluable to ensure compliance and operational effectiveness.

    • Can you provide guidance on developing a corrective action plan to address compliance deficiencies, such as responding to a Matters Requiring Attention (MRA) from a CFPB examination report? A detailed step-by-step approach, including root cause analysis, action item prioritization, timeline development, accountability assignments, and progress monitoring, would be highly valuable to ensure effective remediation and regulatory compliance.

    • How are you preparing your compliance reports for senior management? I can assist in summarizing key metrics, highlighting critical compliance issues, and presenting actionable insights to ensure clear and effective communication of compliance performance and priorities.

    • Can you review and revise an examination response to a regulator? A thorough analysis to ensure the response is accurate, comprehensive, and aligned with regulatory expectations, along with recommendations for enhancing clarity and addressing potential concerns, would be greatly beneficial.

    • Can you provide a detailed overview of the NMLS licensing requirements for our loan officers operating in multiple states? A comprehensive breakdown of state-specific requirements, including pre-licensing education, testing, background checks, and ongoing renewal obligations, would be invaluable for ensuring compliance across jurisdictions.

    • Can you identify the unique mortgage lending regulations that apply specifically in California? A detailed summary of state-specific requirements, including licensing, disclosure obligations, and borrower protections, would be invaluable for ensuring compliance with California's regulatory framework.

    • Navigating multi-state compliance can be complex. I can assist in identifying and understanding state-by-state variations in servicing regulations, providing a detailed comparison of requirements, and offering actionable guidance to ensure full compliance across jurisdictions.

    • Can you outline the continuing education requirements for maintaining our loan officers’ licenses? A detailed breakdown of state-specific and federal mandates, including course topics, credit hours, and renewal deadlines, would be invaluable for ensuring compliance with licensing regulations.

    • How are you managing regulatory change tracking for mortgage servicing? I can guide you through the latest requirements, provide actionable strategies for staying updated, and assist in implementing an effective tracking system to ensure ongoing compliance.

    • Can you explain the CFPB's mortgage servicing rules that specifically impact our loan servicing transfer department? A detailed overview of key requirements, including borrower notification timelines, data accuracy standards, and continuity of servicing obligations, would be invaluable for ensuring compliance and smooth operations.

    • Do you need assistance navigating HUD's updated guidelines for FHA loss mitigation? I can provide a detailed summary or focus on specific provisions, including borrower eligibility, procedural requirements, and documentation standards, to ensure full compliance and effective implementation.

    • Can you provide guidance on managing escrow accounts to ensure compliance with RESPA? A detailed overview of requirements, including calculation methods, disclosure obligations, and annual account analysis procedures, would be invaluable for maintaining regulatory adherence.

    • Do you need assistance in determining borrower eligibility for loss mitigation programs while ensuring compliance with fraud detection protocols? I can provide detailed guidance on eligibility criteria, documentation requirements, and best practices for integrating fraud detection measures into the evaluation process to maintain compliance and operational integrity.

    • Can you outline compliant loss mitigation options that we can offer to borrowers facing financial hardship? A detailed overview of allowable options, including forbearance, loan modifications, repayment plans, and deed-in-lieu arrangements, along with their regulatory requirements and borrower eligibility criteria, would be invaluable for ensuring compliance and supporting borrowers effectively.

    • How are you addressing compliance concerns related to borrowers with a history of misrepresentation? I can assist by reviewing HUD’s criteria on ineligibility for loss mitigation, providing detailed guidance on evaluating borrower circumstances, and ensuring adherence to regulatory standards while mitigating risks.

    • How are you managing compliance monitoring for fair lending laws? I can provide detailed guidance on implementing effective risk assessment processes, identifying potential disparities, and ensuring adherence to regulatory requirements to mitigate risks and promote equitable lending practices.

    • How can we ensure that our lending practices avoid redlining and reverse redlining? I can provide detailed guidance on implementing robust compliance measures, including fair lending risk assessments, geographic distribution analysis, and borrower demographic reviews, to promote equitable practices and meet regulatory standards.

    • Can you assist in conducting a disparate impact analysis on our loan approval rates? A detailed evaluation of potential disparities across protected classes, including statistical analysis and actionable recommendations for addressing any identified issues, would be invaluable for ensuring compliance with fair lending laws and promoting equitable practices.

    • Can you outline our obligations under the Community Reinvestment Act (CRA) to serve low- and moderate-income communities? A detailed overview of regulatory requirements, including assessment area analysis, lending and investment expectations, and reporting obligations, would be invaluable for ensuring compliance and supporting community development goals.

    • Can you provide guidance on preventing discriminatory lending practices in compliance with the Equal Credit Opportunity Act (ECOA)? A detailed framework covering fair lending policies, employee training, monitoring processes, and risk assessments would be invaluable to ensure equitable practices and adherence to regulatory standards.

    • Would you like an overview of your company’s potential compliance risks under current federal and state regulations? I can provide a detailed analysis of regulatory requirements, identify key risk areas, and offer actionable recommendations to help ensure full compliance and mitigate exposure.

    • Are your compliance policies aligned with the latest CFPB guidance? I can assist by drafting or reviewing key documents to ensure they reflect current regulatory expectations and provide actionable recommendations to address any gaps.

    • Would you like to evaluate your current compliance policies to ensure alignment with federal requirements? I can provide a comprehensive review, identify any areas of non-compliance, and offer actionable recommendations to help you meet regulatory standards effectively.

    • Can you provide guidance on the timing requirements for delivering Loan Estimates and Closing Disclosures to borrowers? A detailed explanation of the regulatory deadlines, including specific timing rules under TRID, would be invaluable for ensuring compliance and avoiding delays in the mortgage process.

    • Can you provide a detailed overview of the recordkeeping requirements under mortgage lending regulations? A breakdown of the specific records that must be retained, along with the applicable retention periods mandated by federal and state laws, would be invaluable for ensuring compliance and maintaining proper documentation.

    • Can you outline the requirements for using electronic signatures in mortgage documents? A detailed explanation of compliance with the E-SIGN Act and other applicable regulations, including consent, authentication, and record retention standards, would be invaluable for ensuring the validity and enforceability of electronically signed documents.

    • Can you assist in developing a comprehensive compliance training program for our mortgage lending staff? A detailed framework covering key regulatory requirements, role-specific training modules, and ongoing education to address federal and state laws would be invaluable for ensuring compliance and promoting best practices within our team.

    • Do you need assistance in developing training materials for your staff on new servicing regulations? I can create concise summaries, engaging quiz questions, and practical exercises to ensure your team understands and complies with the latest regulatory requirements.

    • Can you provide a summary of recent regulatory changes impacting the mortgage industry to ensure our training materials are up to date? A detailed overview of key updates, including their implications for compliance and operational practices, would be invaluable for keeping our team informed and prepared.

    • Can you assist in creating training materials focused on ethical considerations in mortgage lending? A comprehensive program including case studies, best practices, and regulatory guidelines would be invaluable for fostering ethical decision-making and ensuring compliance across our operations.

    • Can you review and revise a letter, providing recommended edits to enhance clarity and impact? Including any relevant arguments or key regulatory points to strengthen the message and ensure alignment with compliance standards would be greatly appreciated.

    • Can you outline the compliance considerations for participating in federal mortgage relief programs? A detailed overview of eligibility criteria, documentation requirements, reporting obligations, and any potential risks would be invaluable for ensuring adherence to program guidelines and regulatory standards.

    • Can you provide a detailed overview of the specific disclosures required for Adjustable Rate Mortgage (ARM) products? A breakdown of timing, content, and format requirements under applicable regulations, such as TILA and CFPB guidelines, would be invaluable for ensuring compliance and transparency with borrowers.

    • Can you identify the regulations applicable to high-cost mortgages under the Home Ownership and Equity Protection Act (HOEPA)? A comprehensive explanation of coverage thresholds, disclosure requirements, prohibited practices, and compliance obligations would be invaluable for ensuring adherence to regulatory standards.

    • Can you explain the restrictions on loan originator compensation designed to prevent steering? A detailed overview of the applicable rules under TILA and CFPB regulations, including prohibited practices and compliance requirements, would be invaluable for ensuring fair lending practices and regulatory adherence.

    • Can you outline the compliant procedure for managing and resolving consumer complaints? A detailed explanation of the steps required to ensure timely acknowledgment, investigation, resolution, and documentation in accordance with CFPB and other regulatory standards would be invaluable for maintaining compliance and enhancing customer satisfaction.

A prompt refers to any text input provided by the user to an AI model. It may take the form of a question, a request, or any message intended to generate a response or action from the model. More broadly, a prompt is a general term for any user-provided input, whereas the term "query" is typically used when the input is specifically a question or a request for information.

RegComplyGPT RESPONSES

  • Summary of the CFPB's Personal Financial Data Rights Rule - View Response

    RegComplyGPT Prompt: After uploading the Notice of Final Rulemaking for the CFPB’s Personal Financial Data Rights Rule, prompt RegComplyGPT to "Summarize in detail the attached document. Focus the summary as it applies to non-bank mortgage lenders and servicers. Include the calculation of total receipts as it applies non-depository institutions, as well as the implementation dates for non-depository institutions based on total receipts.” 

  • Analysis of the Comments Submitted in Response to the CFPB's Proposed Amendments to Regulation X - View Response

    RegComplyGPT Prompt: After uploading the comments submitted by industry stakeholders, consumer advocacy groups, and state regulators/Attorneys General, prompt RegComplyGPT to "Summarize in detail (about 5,000 words) the attached comments regarding the CFPB’s proposed amendments to Regulation X. The analysis should comprehensively address areas of consensus and key points of disagreement between industry stakeholders (MBA, HPC, ABA, etc.), Freddie Mac and Fannie Mae, state regulatory agencies, attorneys general, and consumer advocacy groups.” 

  • Memorandum Regarding the CFPB’s Proposed Amendments to Regulation X - View Response

    RegComplyGPT Prompt: “Obtain the latest CFPB proposed rules for mortgage servicing and draft a memorandum from Chief Compliance Officer to General Counsel summarizing the proposed rules. Focus on the regulatory change management issues, as well as any financial implications for both consumers and servicers.” 

  • Letter to Servicing Customer Regarding VA-Insured Loan - View Response

    RegComplyGPT Prompt: Compose a letter to a servicing customer notifying them that their loan is not insured by the VA because the originating lender did not meet the required seasoning guidelines. Be sure to outline any potential impacts and provide the customer with available options. 

  • Conflicts Between the CARES Act Credit Reporting Requirements and the FCRA - View Response

    RegComplyGPT Prompt: Develop an argument asserting that the credit reporting requirements under the CARES Act conflicted with the FCRA, posed significant challenges for servicers due to system limitations, and were hindered by insufficient and unclear guidance from regulators. 

  • Complaint Oversight Committee Charter - View Response

    RegComplyGPT Prompt: Create a Complaint Oversight Committee Charter for a mortgage lender and servicer. The committee will be responsible for reviewing consumer complaints and regulatory inquiries, including those from the CFPB, to ensure timely and appropriate resolution while maintaining compliance with applicable laws and regulations.