During the middle 1980’s, the challenge of the cold war era brought on a philosophy shared by both the United States and Soviet Union - “Trust but Verify”. President Ronald Reagan expressed that philosophy as the foundation for a stable world.
That proverb still applies in the foundation for today’s financial services world of compliance. As part of the July 2010 Dodd-Frank Act, lenders are challenged to implement loan origination processes to assure proper loan/lease computations in both their disclosures and loan documents.
This study represents one lender that confidentially shared their experience using CarletonAudit® as a solution to assure compliant loan origination calculations.