One-click access to ComplianceAnalyzer is changing the way the mortgage industry closes loans
SAN FRANCISCO, CA (SEND2PRESS NEWSWIRE) — ComplianceEase(R), a premier provider of automated compliance solutions for the residential mortgage industry, today announced partnerships with seven of the nation’s leading document preparation companies to seamlessly integrate ComplianceEase’s flagship product – ComplianceAnalyzer(TM) (CA) – into their mortgage document systems and closing platforms.
These alliances provide real-time access to ComplianceEase’s suite of automated tools, allowing lenders to easily establish and implement integrated risk and compliance strategies without significant cost or changes to existing processes. These top document providers have invested in ComplianceEase’s best-of-class automated compliance system in order to provide additional protection to their lender customers in an ever-changing regulatory compliance landscape.
ComplianceEase has partnered with the following seven document companies:
* Docprep Services, Inc.
* Entyre Mortgage Closing Solutions
* First American Nationwide Documents
* Guardian Mortgage Documents
* International Document Services
* Mortgage Banking Systems, dba Proclose
* Online Documents Services
ComplianceAnalyzer enables lenders to identify non-compliant loans instantly, immediately prior to the creation of mortgage documents. The enhanced workflow allows lenders to correct compliance exceptions before closing documents are produced, ensuring salability into the secondary markets and ultimately increasing confidence in the loan transaction.
The ComplianceEase rules-based enterprise application additionally benefits secondary investors by providing them with the ability to perform automated loan-level due diligence to mitigate the risk of assignee liability on loans they purchase from lenders across the nation. ComplianceAnalyzer can dramatically reduce the time and cost of maintaining compliance within a complex and ever-changing legislative landscape.
“These unique partnerships further increase the industry’s access to ComplianceAnalyzer throughout the entire loan production cycle, from the point of origination to closing,” said John Vong, chief executive officer of ComplianceEase. “Lenders today face countless regulatory compliance challenges and these partnerships enables lenders to have “one-click” access to a dependable solution that identifies compliance exceptions prior to loan closings, improves loan quality, and mitigates potential losses,” noted Vong.
ComplianceAnalyzer, the industry’s most comprehensive automated compliance solution, reviews loan-level details for regulatory compliance with applicable “high-cost” and “anti-predatory lending” legislation and license-based consumer lending laws and regulations at federal, state, and local levels. In addition, secondary market participants can cross-reference their loans to other institutions’ and investors’ compliance policies in seconds. The system also significantly improves an institution’s ability to quantify and mitigate areas of operational risk. Financial institutions will now be able to more effectively implement the necessary internal controls dictated by thorough business process management practices, and mandated by recent oversight requirements such as Section 404 of the Sarbanes-Oxley Act.
“ComplianceEase recognizes that regulatory compliance is a critical issue for the mortgage industry, and therefore we take it a step further by providing lenders with unsurpassed protection from the financial and operational risks of non-compliance through our optional CA AssureCert(TM) offering. ComplianceAnalizer AssureCert further indemnifies lenders for up to $350,000 per loan against losses related to compliance audit results, and the product is underwritten by an AM Best rated A+ insurer,” said David Girling, executive vice president of ComplianceEase.
The company’s automated compliance solution complements those of the document companies with the addition of unsurpassed levels of regulatory compliance protection for their lender customers.
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a premier provider of intelligent business solutions to the financial services industry. ComplianceEase’s web-based platform – ComplianceAnalyzer – is the mortgage industry’s leading automated compliance solution. The ComplianceEase expert system utilizes advanced reasoning and decisioning technologies as well as natural language processing to power beginning-to-end solutions in a fraction of the time and for a fraction of the cost of traditional approaches, while providing high levels of accuracy and integrity. ComplianceEase’s significant and growing client base includes top tier mortgage lenders, banks, and Wall Street firms. Managed by a team of highly experienced and innovative mortgage and technology professionals, the company is funded by the First American Corporation, the WI Harper Group, and the senior management team.
For more information about ComplianceEase, visit www.ComplianceEase.com.
ComplianceEase and the logo used herein are service marks or registered trademarks of LogicEase Solutions Inc. Other product and company names mentioned herein are the trademarks of their respective owners.
News issued by: ComplianceEase
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Original Story ID: (958) :: 2005-11-1101-004
Original Keywords: ComplianceAnalyzer, ComplianceEase, Mortgage Document Preparation Companies, Compliant Loan Closings, First American Nationwide Documents, Guardian Mortgage Documents, LogicEase Solutions Inc ComplianceEase
News Source: ComplianceEase