Fiserv Lending Solutions – Portfolio Services’ comprehensive regulatory compliance audits will be powered by ComplianceEase, the mortgage industry’s standard for automated compliance, and backed by AssureCert, an exclusive loan-level compliance warranty
BOULDER, CO. and SAN FRANCISCO, CA – May 8 (SEND2PRESS NEWSWIRE) — Fiserv Lending Solutions – Portfolio Services (FLS-PS), a business unit of Fiserv Inc. (Nasdaq: FISV), and ComplianceEase(R), a division of LogicEase Solutions Inc. today announced a strategic alliance through which FLS-PS will use ComplianceEase’s automated compliance solution, ComplianceAnalyzer(R), as the exclusive compliance component of their due diligence service offering for the Capital Markets.
Fiserv Lending Solutions – Portfolio Services is a professional services firm specializing in the assessment and mitigation of risk inherent to the acquisition of residential mortgage asset classes by the Capital Markets. FLS-PS facilitates this process across all aspects of the due diligence spectrum by creating custom solutions, rather than stock products, in accordance with a partner’s risk policy. The new division utilizes leading technology to provide the industry’s most complete and state-of-the-art due diligence solutions.
Fiserv Lending Solutions – Portfolio Services selected ComplianceEase’s flagship product, ComplianceAnalyzer, after extensively reviewing available systems in the marketplace. ComplianceAnalyzer empowers FLS-PS professionals to obtain instant compliance audits that address federal, state, and local anti-predatory lending legislation, as well as state license-based consumer credit laws and regulations. Through the use of ComplianceAnalyzer, all eligible loans will be further strengthened by ComplianceEase’s exclusive AssureCert(R) warranty protection. AssureCert provides compliance indemnification coverage of up to $250,000 per loan, and is underwritten by an AM Best A- rated insurer. The pairing of AssureCert coverage with ComplianceAnalyzer’s comprehensive audit report creates a complete risk mitigation solution, adding further value and protection for FLS-PS’s partners.
“Fiserv Lending Solutions – Portfolio Services is committed to providing our partners with the industry’s best in class offerings. By teaming with ComplianceEase, we are holding true to that vision. ComplianceEase provides the FLS-PS organization a constant and seamless connection to ComplianceAnalyzer’s dynamic auditing capabilities by utilizing a service-oriented architecture (SOA) that enables both a centrally-hosted Web-based application and onsite server deployment,” said James L. Smith, executive vice president of FLS-PS. “ComplianceEase’s comprehensive solution and straightforward integration features clearly separate them from the rest of the field. ComplianceAnalyzer offers a powerful competitive advantage for FLS-PS because it provides us with the industry’s best automated compliance solution, while AssureCert builds additional confidence and delivers strong warranty protection.”
The top priorities for mortgage lenders today include accurately quantifying and effectively mitigating areas of regulatory compliance risk. Additionally, the inclusion of stricter “Expanded Assignee Liability” provisions in high-cost and anti-predatory lending legislation in a number of state and local jurisdictions is forcing the Capital Markets to place additional focus on compliance due diligence. More importantly, the investment community is concerned with meeting the internal controls and reporting requirements of Section 404 of the Sarbanes-Oxley Act, as it pertains to regulatory compliance risk. An automated compliance solution like ComplianceAnalyzer has proven to be one of the most effective ways to address these issues.
“Fiserv Lending Solutions – Portfolio Services’ selection of ComplianceEase as their automated compliance provider for its new due diligence service offering is a solid testament to ComplianceAnalyzer’s current position as the market leader,” mentioned David Girling, executive vice president of ComplianceEase. “Through our new alliance with FLS-PS we will work together to build a unique offering that will provide the Capital Markets with a complete regulatory compliance and risk mitigation solution.”
About Fiserv Lending Solutions
Fiserv Lending Solutions (FLS), an operating group of Fiserv, Inc., is a single-source provider of end-to-end real-estate lending and automotive finance solutions for banks, thrifts, credit unions, mortgage companies, and captive finance companies. Fiserv software, technologies and services support the full range of information processing and transactions necessary for effective life-of-loan management. The comprehensive lending solutions set from FLS includes loan origination and servicing software; lead management and customer loyalty services; document management solutions; automated lending services such as credit, flood, and valuations; field services such as appraisals, inspections, and broker price opinions; closing services; default management solutions; and e-lending and e-closing products and services.
About Fiserv, Inc.
Fiserv, Inc. (Nasdaq: FISV), a Fortune 500 Company, provides information management systems and services to the financial services and health-benefits industries, including transaction processing, business process outsourcing, and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, savings institutions, credit unions, mortgage companies, financial planners and investment advisers, insurance companies and agents, and self-funded employers. Headquartered in Brookfield, Wis., Fiserv reported $4.1 billion in processing and services revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 and 2005 FinTech 100 surveys by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet www.fiserv.com.
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 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 logo, ComplianceAnalyzer, and AssureCert are registered trademarks of LogicEase Solutions Inc. All other trademarks are recognized as proprietary to their owners.
News issued by: ComplianceEase
# # #
Original Story ID: (1611) :: 2006-05-0508-004
Original Keywords: ComplianceEase, Fiserv, Inc., Fiserv Lending Solutions, Nasdaq: FISV, ComplianceAnalyzer, and AssureCert, LogicEase Solutions Inc. ComplianceEase