BRAIN QC® Quality Control Software

The BRAIN QC® auditing system is a Microsoft Windows desktop application that has been designed to help your organization with post-closing quality control audits. It is a powerful and flexible tool that can be tailored to your specific needs and integrated tightly into your processes.

System Features and Benefits

• Intelligent and dynamic data collection screens.
• Ensure full regulatory compliance : APR, Section32, High Cost, TIL and Predatory Lending Rules and Regulations.
• BRAIN Smart Forms™ technology.
• Easy to use, customizable, enterprise rules engine.
• Verification Letter Generation and Tracking.
• Loan Sampling Tools.
• Flexible reporting engine and analysis tools.
• Sophisticated data mapping and exporting tools and data integration options.
• Highly configurable system and configurable review types.
• Microsoft Access or SQL Server Database Platform.

Regulatory Compliance Review

Regulatory compliance is both a difficult and critical challenge within the mortgage industry. At Bohan Group, we continually track developments and trends by staying abreast of the latest developments related to statutes and ordinances; from new legislation, to legislative amendment, federal agency preemption, litigious status, to rating agency eligibility. The BRAIN® system is under a constant state of development to meet client needs with respect to this ever-evolving compliance landscape. BRAIN® not only identifies loan-level compliance issues related to federal, state, county and municipal regulations, statutes and ordinances, but does so with intentional deference to both rating agency and general Wall Street sentiments and expressed opinions.

Moreover, the flexibility of the BRAIN® database allows us to meet specific client needs through the programming of unique products and/or internal compliance standards. This overview encompassing the entire breadth of the compliance landscape results in the necessary benefit of assurance through the expedient delivery of accurate and complete data to our clients - so necessary in the fast paced world of the secondary market.

Compliance reviews may be performed stand-alone or simultaneously with a variety of other due diligence related reviews, from standard credit underwriting to full quality assurance audits.

Scope of the BRAIN® compliance review:

• Final TILA Disclosures
• Right Of Rescission
• HUD-1 Settlement Statement
• HOEPA/Section 32 Determination
• State Predatory Lending Determination
• Local (county and municipal) Predatory Lending Determination
• State Prepayment Penalty Restrictions and Limitations
• State late Charge and Grace Period Restrictions and Limitations

Integration and Data Exchange

The BRAIN® Import module and mapping tool provides the ability to load data from other systems into the BRAIN® database, enabling clients to integrate data from multiple sources quickly and easily. The import module leverages the Microsoft Access built-in file importing function which supports the most common and popular file formats. The mapping tool is very easy to use and allows any number of maps to be saved for future reuse.

The BRAIN® Data Export module facilitates the exporting of any BRAIN® data to other file formats. The module is flexible and very easy to use, and supports the ability to convert field names and field values to many popular file formats including Microsoft Excel® spreadsheets, XML and ASCII text files.

Reports and Tools

The BRAIN® system includes an extensive set of pre-built reports including loan detail reports, compliance reports, stratification reports, exception reports, and data import (tape) comparison reports. Reporting specific to Quality Assurance Audits is also available, including re-verification status reports, defect summaries and historical trend analyses.

Ad-hoc query and reporting tools are also available for those inclined to build their own reports. The systems easy to use query tool allows complex queries to be built without the need for programming, using any criteria within the BRAIN® database. Queries can also be saved and reused at a later time. The query tool is used extensively throughout the BRAIN® application and all reporting functions within the system can leverage query results to filter data.

When needed, the BRAIN® application also includes unique and powerful analysis tools. These tools provide an interactive drill-down environment that allows detailed analysis of loan and exception based data as well as mechanisms to modify loan data and recalculate fields in batches.

Configuration and Customization

The BRAIN® Configuration Module allows configuration changes to many details of the BRAIN® system without the need for programming. A number of field-related attributes can be configured including validation rules, lookup values, help text, tolerances, and conditional display. The order and display conditions of screens in a workflow can also be easily configured as can the ability to create multiple workflows designed for various phases or functions of an audit.

Deployment and Database Platform Options

The BRAIN® auditing system is available as a Microsoft Office™ database application running in the Microsoft Office™ application environment, making the multi-user application easy for enterprises to deploy and maintain.

The BRAIN® software can be deployed with either the Microsoft Access™ database or the Microsoft SQL Server™ database platform. The Microsoft Access database is ideal when database portability is required or to keep database support and maintenance costs to a minimum. The Microsoft SQL Server™ database platform is normally used with a larger database size, a greater number of users, superior system performance requirements, or enhanced security needs. Bohan Group can assist you in making this decision on which database works best for your installation.