Validator
CARES Act Testing
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COMPLIANCE. REVOLUTIONIZED.

CARES ACT TESTING

Full population testing of all mortgage loans daily

Validator can test your ENTIRE mortgage portfolio within minutes to determine if you are compliant with all CARES Act regulations. 

Azimuth GRC

Validator replaces sample-based manual testing with
full-population automated testing.

We find the needle in the haystack.

Validator Tests:

4 Cares Act sections

Sec. 1113. Bankruptcy.
Sec. 4021. Credit protection during COVID–19.
Sec. 4022. Foreclosure moratorium and consumer right to request forbearance.
Sec. 4023. Forbearance of residential mortgage loan payments for multifamily properties with federally backed loan.

14 automated tests

Sec. 1113 – 2 automated tests
Sec. 4021 – 2 automated tests
Sec. 4022 – 7 automated tests
Sec. 4023 – 3 automated tests

5 CARES Act categories

1. Bankruptcy
2. Credit Reporting
3. Eviction
4. Foreclosure
5. Loss Mitigation – Foreclosure

230 test conditions

Over 15 test conditions on average per automated test

Continuously assess your portfolio to ensure CARES Act compliance.

Sample CARES Act Testing Results Summary

  • Tested and retested sample population of approximately 300,000 loans in minutes
  • Identified LOAN LEVEL exceptions for two CARES Act tests
  • Identified exact loans that were out of compliance for entire tested population – This result is not possible with traditional manual testing of sample population
  • Demonstrated process would successfully automatically test for all CARES Act requirements and allow company to focus on remediation vs. identification

Sec. 4021-Credit Protection
Test 1

Azimuth GRC Platform
Testing Not Required140,996
Pass142,555
Exception7,019
  • 22,450 - Loans did not report as current at time of loss mitigation approval
  • 105,822 – Loan is not active in loss mitigation
  • 9,901 - Loan is not in an active COVID accommodation
  • 2,823 - Loss mitigation start date not within covered period
  • 3,815 - Loans reported as current or paid off
  • 138,740 - Loans reported as current or paid off at time of loss mit approval, loan is currently reporting the same or better
  • 167 - Loans do not have a credit reporting at the time of loss mit approval, currently not reported as current or paid off
  • 368 - Loans reported as current or paid off at time of loss mit approval, loan is currently reporting in a more delinquent status
  • 1,976 – Suppressed Loan – Exception – Loan did not have a credit reporting at the time of loss mit approval, currently not reported as current or paid off
  • 87 – Suppressed Loan – Exception – Loan reported as current or paid off at the time of loss mit approval, loan is currently reporting in a more delinquent status
  • 3,247 – Suppressed Loan – Pass – Loan reported as current or paid off
  • 994 – Suppressed Loan – Pass – Loan reported as current or paid off at time of loss mit approval, loan is currently reporting the same or better
  • 155 – Suppressed Loan – Testing Not Required – Loan did not report as current at time of loss mit approval
  • 25 – Suppression flag is null

4021-Credit Protection
TEST 2

Azimuth GRC Platform
Testing Not Required113,755
Pass166,717
Exception10,098
  • 98,410 – Loan is not active in Loss Mitigation
  • 13,232 - Loan is not in an active COVID accommodation template
  • 2,113 - Loss mitigation start date not within covered period
  • 5,677 - Loans reported as current or paid off
  • 126,691 - Loans reported as current or paid off at time of loss mit approval, loan is currently reporting the same or better
  • 18,384 - Loans reported as 30-59 days past due at time of loss mit approval, loan is currently reporting the same or better
  • 5,777 - Loans reported as 60-89 days past due at time of loss mit approval, loan is currently reporting the same or better
  • 2,694 - Loans reported as 90-119 days past due at time of loss mit approval, loan is currently reporting the same or better
  • 1,403 - Loans reported as 120-149 days past due at time of loss mit approval, loan is currently reporting the same or better
  • 961 - Loans reported as 150-179 days past due at time of loss mit approval, loan is currently reporting the same or better
  • 5,119 - Loans reported as 180 days or more past due at time of loss mit approval, loan is currently reporting the same or better
  • 11 – Loan reported as paying under partial payment agreement, loan is currently reporting the same or current
  • 167 - Loans do not have a credit reporting at the time of loss mit approval, currently not reported as current or paid off
  • 368 - Loans reported as current or paid off at time of loss mit approval, loan is currently reporting in a more delinquent status
  • 1,976 – Suppressed Loan – Exception – Loan did not have a credit reporting at the time of loss mit approval, currently not reported as current or paid off
  • 87 – Suppressed Loan – Exception – Loan reported as current or paid off at the time of loss mit approval, loan is currently reporting in a more delinquent status
  • 3,247 – Suppressed Loan – Pass – Loan reported as current or paid off
  • 994 – Suppressed Loan – Pass – Loan reported as current or paid off at time of loss mit approval, loan is currently reporting the same or better
  • 155 – Suppressed Loan – Testing Not Required – Loan did not report as current at time of loss mit approval
  • 25 – Suppression flag is null

Case Study

Validator tested 99% more loans in less than 1% of the time!

Working with a large national financial institution Validator produced full-population automated compliance testing reducing costs and increasing efficiency.

Validator did in 20 minutes what it would take 1 year and
500 people to complete

MANUAL

> Sample Size: 30
(.01% of total population)
> On a Risk Basis
> 5 Days
> 2 – 3 Resources
> 4 – 6 Tests a Month

AUTOMATED

> Full Population
> 100% of total population
> Daily
> 20 Minutes
> Computer Processing
> All CARES Act Requirements

Validator Data Model Provides Comprehensive Dashboard Flexibility

Azimuth GRC Platform
Azimuth GRC Platform

Focus on Remediation vs. Identification.

Azimuth Validator Cares Act Data Sheet FINAL (2)

Validator - CARES Act Compliance

Validator is the only solution in the market to trace operational controls and perform automated compliance testing down to every requirement of the law.

Validator can test your ENTIRE portfolio within minutes to determine if you are compliant with all laws and regulations associated with the CARES ACT, eliminating the need for manual testing.

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WHAT OUR CLIENTS AND PARTNERS THINK

“Compliance is a critical component of keeping the ACH Network safe and secure. We are pleased to welcome Azimuth as our newest Preferred Partner for ACH compliance solutions.”
Jane LarimerNacha, President and CEO
Jane Larimer