Dr. Preston Martin – former Vice Chairman of the Federal Reserve Board – and other executives from ComplianceEase interviewed by General Haig
SAN FRANCISCO, CA – Aug. 7 (SEND2PRESS NEWSWIRE) — ComplianceEase(R), the leader in automated compliance and risk management solutions for the mortgage industry will be featured on a segment of the World Business Review (WBR) which will begin airing on August 8, 2006 on CNBC and the Bravo! network. The WBR is an award winning television show that is directed by Emmy award winner Alan Levy and hosted by General Alexander Haig Jr., the former Secretary of State during the Reagan administration. The newsmagazine show educates the American public about how innovative companies are developing and implementing dynamic business strategies and technology to solve industry problems.
This segment of the WBR will showcase ComplianceEase by highlighting how the company is using automation to tackle the mortgage regulatory compliance arena. The interview will address how ComplianceEase’s automated compliance system, ComplianceAnalyzer(R), helps mortgage lending institutions to ensure that their loans are in compliance which ultimately protects consumers from abusive lending practices.
“Over the last seven years, the surge in state and municipal laws designed to combat predatory lending has created an increasingly complex regulatory environment for lenders. Consequently, several major financial services institutions associated with non-compliant loans have been subjected to lengthy investigations and class action lawsuits that have severely affected the American public’s level of trust in the mortgage industry,” noted Dr. Preston Martin, former vice chairman of the Federal Reserve Board of Governors and current chairman of ComplianceEase’s Board of Advisors. Dr. Martin also stated that “as a former regulator, I enthusiastically support ComplianceEase’s tireless efforts to promote mortgage compliance and to develop solutions that enable mortgage lenders to proactively manage their risk.”
ComplianceEase’s flagship product, ComplianceAnalyzer, is the industry’s standard for automated compliance and it empowers over 250 financial institutions with the ability to revolutionize the way they approach and manage regulatory compliance challenges such as anti-predatory / high-cost legislation and Section 404 of the Sarbanes-Oxley Act. ComplianceEase’s automated compliance solution was recently recognized in June 2006 by the Mortgage Technology magazine as being a “Top 25 Mortgage Technology Service Provider.”
“We are very excited to have participated in this news segment with General Haig which addresses the issue of abusive lending. Over the last five years, mortgage lenders have paid a total of over $1 billion in fines and settlements in class action lawsuits related to non-compliance,” said John Vong, chief executive officer of ComplianceEase. “I am pleased and enthusiastic that we were invited to participate with WBR because the show offers a great opportunity to further educate consumers about these important and growing issues,” he added.
WHEN: Please refer to your local TV schedule(s) for airing times of the World Business Review. In the near future, the video segment will also be made available for viewing and download from www.ComplianceEase.com (date for web viewing to be determined).
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.
News issued by: ComplianceEase
# # #
Original Story ID: (1884) :: 2006-08-0807-001
Original Keywords: ComplianceEase , Dr. Preston Martin, LogicEase Solutions Inc. ComplianceEase