Azimuth GRC
Validator
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COMPLIANCE. REVOLUTIONIZED.

VALIDATOR

Validator can test your ENTIRE portfolio in minutes to determine if you are compliant with all laws and regulations, including the CARES Act and CFPB Servicing Module.

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

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

We find the needle in the haystack.

Validator is the only solution to provide full-population automated compliance testing of the entire loan portfolio.  Full reporting, real-time dashboards, and advanced analytics allow you to monitor the state of your compliance program. 

Business requirements are written at the lowest level of the law. These requirements are then turned into rules and tested using data elements.

Validator provides full collaboration, through automated workflow that drives compliance activities.

Validator CFPB Tests:

9 CFPB servicing modules

  • Covering routine servicing

  • Default servicing

  • Foreclosure

148 automated tests

More than 4 tests on average per category.

32 categories

Covered by 148 automated tests.

100s of test conditions

Test results are provided daily.

CFPB Module 1

Servicing and Loan Ownership Transfers

  • Servicing Transfers

  • Escrow Transfers

  • FDCPA

  • Ownership Transfers

CFPB Module 2

Payment Processing, Account Maintenance, and Optional Products

  • Payment Processing
  • Optional Products
  • Periodic/Billing Statements
  • Adjustable-Rate Mortgage Disclosures
  • EFTA (Electronic Payment Processing)
  • Payoff Statements
  • Treatment of Credit Balances
  • Marketing/Advertising

CFPB Module 3

Error Resolution, Consumer Inquiries, and Compliant Procedures

  • NOE/RFI Response

  • Billing Error Resolution

CFPB Module 4

Maintenance of Escrow Accounts and Insurance Products

  • Escrow

  • Force Placed Insurance

  • PMI

CFPB Module 5

Consumer Reporting

  • Credit Reporting (Including Responses to Credit Disputes)

CFPB Module 6

Information Sharing and Privacy

  • Privacy Disclosures

  • Affiliate Marketing

CFPB Module 7

Collections and Accounts in Bankruptcy

  • Bankruptcy

  • Collections (FDCPA)

CFPB Module 8

Loss Mitigation, Early Intervention, and Continuity of Contact

  • Early Intervention

  • Continuity of Contact

  • Loss Mitigation

  • Appraisals

CFPB Module 9

Foreclosures

  • Foreclosures

Other

  • Flood Insurance
  • High-Cost/Higher Priced/Subprime
  • Property Preservation 
  • Miscellaneous State Specific Notices/Disclosures
  • Lien Release/Discharge

Validator CARES Act 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

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

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
  • 428 - Loans do not have a credit reporting at the time of loss mit approval, currently not reported as current or paid off
  • 14 – Suppressed Loan – Pass – Loan reported as 60-89 days past due at time of loss mit approval, loan is currently reporting the same or better
  • 3,349 – Suppressed Loan – Exception – Loan in active forbearance template does not contain a credit bureau reporting code as of April 5th
  • 4,552 – Suppressed Loan – Pass – Loan reported as current or paid off
  • 9 – Suppressed Loan – Pass – Loan reported as 180 days or more past due at time of loss mit approval, loan is currently reporting the same or better
  • 28 – Suppressed Loan – Pass – Loan reported as 30-59 days past due at time of loss mit approval, loan is currently reporting the same or better
  • 1,099 – Suppressed Loan – Pass – Loan reported as current or paid off at time of loss mit approval, loan is currently reporting the same of better
  • 619 – Other exception sources

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

LEARN MORE ABOUT VALIDATOR CARES ACT

Focus on Remediation vs. Identification.

Validator

Azimuth 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 eliminating the need for manual testing.

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WHAT OUR CLIENTS AND PARTNERS THINK

"The Azimuth GRC Lineage platform allowed us to scale our compliance seamlessy with operations, along with early detection of control gaps. Using the Azimuth GRC innovative technology solutions is the key to managing growth and regulatory change."
Lorrie CevallosManaging Director, Home Point Financial
Lorrie Cevallos
“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
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