Does Blue Sage Solutions meet state and federal regulatory requirements?

Yes, the Blue Sage Solutions platform is designed to adhere to industry laws and regulations. Blue Sage ensures adherence to both state and federal regulations through a combination of platform features, integrations, and proactive monitoring. The platform is designed to support a number of laws and regulations, such as TRID, HMDA, MDIA, HOEPA, RESPA, Reg B, etc. A key component of Blue Sage’s compliance strategy is its seamless integration with ComplianceEase, which checks over 100 state, federal, and agency regulations. ComplianceEase updates its product monthly to incorporate any upcoming changes to regulatory guidelines. Blue Sage also provides standard product eligibility guidelines for FNMA and FHLMC.

Blue Sage monitors changes to laws and regulations through its membership in industry organizations (e.g., MBA, MERS) and through bulletins and notifications from FNMA, FHLMC, VA, USDA, and FHA/HUD. The process to address all regulatory changes involves identifying the change, the timing for required delivery and UAT, and then scheduling them into an upcoming release. However, when exceptions are required (e.g., VA LTV changes), Blue Sage collaborates with clients to deliver in advance of the required implementation date. Updates are ongoing, and Blue Sage subscribes to several industry sources and relies on outside counsel for further clarification.