History

A Proven Record

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Xource has been collecting home data for 35 years and providing it to financial clients since 2009. Our dedication to excellence has been at the forefront of our efforts from the beginning.

Since the formation of Xource we have had millions of data pulls on our databases. Thanks to our high quality data and the strong integrity of that data, we have a flawless record.

When the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank” for short) was signed into law in July of 2010, things started to change in the financial regulation environment within the US. The Act brought significant reform to the requirements placed on the financial services industry, and it brought a necessity for services like those provided by Xource. The Act would require comprehensive regulation of financial markets like we had never seen before, including increased transparency from banks to consumers.

Things would again be shaken up with the October 2015 regulation changes known as the TILA-RESPA Integrated Disclosure rule (also known as “TRID”). This rule was designed to make things simpler for consumers looking to secure a mortgage; the Truth-in-Lending disclosure and the Good Faith Estimate (GFE) were both replaced with the Loan Estimate that is now a standard requirement. Though these regulations have simplified things for consumers, they have placed new burdens on the financial institutions who are doing the lending. Xource is dedicated to easing these burdens and providing the highest quality data it takes to comply with these new regulations.


17% of banks view “information technology preparedness” as the top challenge in complying with TRID*. 


*According to the Regulatory & Risk Management Indicator survey from Wolters Kluwer Financial Services