CalcTIL is GuardianDocs’ compliant and reliable TIL calculation engine that complies with the Federal Truth in Lending Act (Regulation Z) and RESPA (Regulation X). Through this Web service, clients are assured they are in compliance with the law and can accurately calculate, structure and disclose any loan. They can expect:
The Truth-In-Lending calculation requires the disclosure of all the costs and terms associated with a mortgage loan.
The following TIL calculations are some of the critical cost information provided to a borrower:
There are three functions performed when the Web service is called: Data Validation, TIL Calculation and Schedule Generation.