Factom Harmony provides:
- Evidence of Compliance for all Regulations
More than just the Closing Disclosure
- Compliance Reviews / Audits
Eliminate Audit prep costs
- Consumer Protection
Single source of truth for consumer information
- Litigation Support
Reduce eDiscovery costs and nuisance lawsuits
- Due Diligence
Lock the due diligence file and results permanently
- Foreclosure Documentation
Eliminate documentation issues and court challenges
- Lost Document Solutions
Manage lost and trailing documents
Harmony is a new blockchain base document technology that works with your existing imaging or document management solution to create a secure, transparent, unalterable record for the final loan documents.
Using the latest in blockchain technology Factom Harmony provides a single permanent document catalogue that significantly reduces the costs for audits, file reviews, lost documents, post-closing and litigation. Harmony saves time by ensuring the final loan file is complete, accessible and permanently unaltered. Therefore, audits, document reviews and litigation prep activities are only conducted using the correct set of documents and data.
Factom Harmony provides a single, comprehensive, secure and unalterable document blockchain catalogue that eliminates the costs of document assembly and saves time by consolidating document storage. Factom Harmony enables organizations to better coordinate compliance audits, interact with all loan documents and data across multiple sources, deliver final documents faster and utilize resources more efficiently—all through one platform.
Factom Harmony enables organizations to better coordinate compliance or any type of audits, across multiple sources ensuring a fully complete file every time.
Harmony also allows the lender to deliver final documents faster and utilize resources more efficiently—all through one platform. Remove the risk of missing documents through the use of Factom Harmony.
- Creates a permanent document record of all final loan files
- Utilizes blockchain technology to write unalterable, perfect chains of loan data and documents
- Significantly reduces audit costs and risk
- Reduces eDiscovery and other legal costs associated with lending disputes
- Eliminates documentation exceptions for audits, regulatory reviews, loan transfers and due diligence
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