The following article is reprinted with permission from the March 2005 issue of Secondary Marketing Executive®.

You know you're working with trusted advisors, but how do you convince your investors that you've selected the best solution?

If there is one thing everyone knows about the predatory lending landscape, it's that being found on the wrong side of the line means significant negative consequences. Now, where that line is exactly varies by jurisdiction and is often subject to debate. Ultimately, the final decision could rest with a court of law, but if it goes that far, the lender - and its secondary market investors - have already lost.

In the last issue of The Compliance Wizard, the Compliance Department launched the first of its three-part series on the rudiments of the Finance Charge, as defined under the Truth in Lending Act1, to respond to a growing number of telephone calls from customers inquiring into whether a particular fee, cost or charge may be excluded from the calculation of a Finance Charge.

DSI needs your input on several matters that may affect your business. If you make loans in Kentucky, we need the name of the county in which your office is located so that DocMagic may populate your county information into future Kentucky mortgages and/or assignments. If you are a California Finance Lender, we now have a disclosure form that complies with California Financial Code Section 22337(a) that you may use. Finally, we want to know what you think about eliminating the credit scoring disclosure information from DocMagic since a copy of the credit scoring information obtained from a consumer reporting agency is provided to the borrower anyway.

DSI Customer Service offers solutions to common issues or questions, ranging from user errors to using our software. Common user errors that our Customer Service Department has noticed recently are discussed below.

The Knowledge Base offers DocMagic users a wealth of support information and self-help tools pertaining to DocMagic products, updates, tips and more. Here you may search our database of support articles designed to answer your product questions:

In order to keep DocMagic software users better apprised of document changes and additions as they occur, DSI posts listings of all newly created and revised documents. Here is the list of forms created or modified in March, 2005.