SAN FRANCISCO, Calif. – August 18 (SEND2PRESS NEWSWIRE) — First American Nationwide Documents, a member of The First American Corporation family of companies; and ComplianceEase(R), a division of LogicEase Solutions Inc., announced today a strategic alliance to integrate ComplianceEase’s ComplianceAnalyzer(TM) with First American’s Document Management System. The integration creates a seamless interface between First American’s solution, which automates all document production, management functions and workflow tasks; and ComplianceAnalyzer, an Internet-based technology that automates regulatory compliance processes, especially in the areas of federal, state and local high-cost and anti-predatory lending regulations.
“Integrating ComplianceAnalyzer into the First American platform will strengthen the compliance value to the loan-cycle workflow, allowing customers simple, one-click access to comprehensive regulatory compliance reviews,” said Dan Solomon, director of client services for First American Nationwide Documents.
Unlike traditional “doc prep” systems, First American Nationwide Documents provides a centralized and paperless value chain portal with total collaborative knowledge and real-time participation in all loan activities. Combining this closing system with ComplianceAnalyzer will enable First American customers to automatically identify instances of noncompliance and explain them in narrative findings reports. In a matter of seconds, the online system renders real-time decisions and automatically calculates a color-coded RiskIndicator(TM), signaling the level of risk of noncompliance.
“In today’s ever-changing regulatory environment, lenders are faced with new compliance challenges on a daily basis,” said David Girling, executive vice president of ComplianceEase. “First American recognizes these challenges and has brought together their core competency of providing document solutions with our specialized risk management solutions in order to help clients eliminate costly errors, improve loan quality and, most importantly, prevent salability issues in the secondary market.”
About First American Nationwide Documents
First American Nationwide Documents is the nation’s largest mortgage loan document preparation company producing loan documents for first- and second-lien mortgage loans, as well as for home equity and construction loans. The company offers electronic ordering systems developed to transfer data directly from the client’s loan origination system directly to First American’s system or clients may also use ProDirect(TM), a Windows(R)-based software system, to input data which is transmitted electronically to First American Nationwide Documents. Electronic orders are delivered in seconds to any designated site using DocConnect(TM), an Internet delivery mechanism.
About The First American Corporation
The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889, is the nation’s largest data provider. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within six primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $6.72 billion in 2004, First American has 31,000 employees in approximately 2,000 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in San Francisco, CA, is the premier provider of intelligent business solutions to the financial services industry. Its ComplianceEase Web-based platform provides the industry’s first automated compliance solution utilizing advanced artificial intelligence reasoning and decisioning technologies as well as natural language processing. ComplianceEase powers beginning-to-end solutions at a fraction of the time and cost of traditional approaches, while providing better accuracy and integrity. ComplianceEase also provides professional services, and consulting services. For more information on ComplianceEase, visit www.ComplianceEase.com.
For more information about this news release, contact: Erik Koland, of ComplianceEase at 650.373.1111 x1132 or e.Koland@complianceease.com.
News issued by: ComplianceEase
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Original Story ID: (680) :: 2005-08-0818-003
Original Keywords: ComplianceEase, LogicEase Solutions Inc, First American Nationwide Documents, The First American Corporation, ComplianceAnalyzer, Document Management System, Automated Mortgage Compliance, loan, financing, real estate, funding, mortgage, san francisco, california, Compliance Ease, alliance ComplianceEase
News Source: ComplianceEase