The great recession of 2009 that was triggered by abuses in the mortgage industry left the global economy in shambles. And hoping to avoid a repetition in the future, governments and financial institutions rushed to find suitable safeguards and put them in place. The result is an ever-expanding set of regulations for the Mortgage Loan Process that call for stricter rules and harsh penalties for failure to comply with them.

These changes to the Mortgage Process are most visible in the…