> About ComplianceEase > ComplianceEase in the News > Press and News  

First American Real Estate Solutions Acquires Minority Interest In ComplianceEase
- Strategic Partnership Brings Web-based Automated Compliance Solution to First American's Bundle of Services for Mortgage Lenders and Investors -

Anaheim, Calif. - Sep. 29, 2005 - First American Real Estate Solutions (RES®), the nation's largest provider of advanced property and ownership information, analytics and services, today announced that it has formed a strategic alliance with, and purchased a minority interest in ComplianceEase®, a premier provider of regulatory compliance and risk management solutions to the financial services industry.

As part of the strategic partnership, ComplianceEase's flagship product, ComplianceAnalyzer™, will be tightly integrated into First American's mortgage technology platforms to provide lenders and investors with an automated compliance solution that allows them to streamline their processes and avoid costly fines and lawsuits.

"Our clients require more advanced methods of ensuring that regulatory requirements are met," said George Livermore, president of The First American Corporation's Property and Information Services Group. "By joining forces with ComplianceEase, we are able to deliver a comprehensive solution that can be easily implemented for immediate results."

Over the last decade, financial institutions have been challenged by an ever-changing landscape of federal, state and municipal anti-predatory and consumer lending laws and regulations. Failure to comply with these increasingly complex laws exposes lenders to significant financial risks. ComplianceAnalyzer automatically performs the thousands of critical checks and calculations necessary to ensure compliance on every loan that is originated or purchased.

"Our goal is to originate compliant loans in a simple, timely and cost-efficient manner said Clifford Schultz, senior vice president of Sovereign Bank. "Knowing that ComplianceAnalyzer is working behind the scenes within First American's platforms allows us to focus more time on our core business of originating loans."

ComplianceAnalyzer is compatible with most existing loan origination systems and document preparation platforms. For customers with existing compliance systems, it acts as a backstop to ensure adequate coverage of current processes and provides extensive tracking and reporting capabilities.

"First American understands that compliance is a critical issue for its customers and has actively engaged a solution that addresses potential areas of risk," said John Vong, chief executive officer of ComplianceEase. "With added connectivity and expanded opportunities to access bundled solutions, the residential mortgage industry will be the ultimate beneficiary of this innovative partnership."

For sales information, contact Tim Kennelly, vice president of national accounts for First American RES at 714-701-2950 or visit www.firstamres.com/ComplianceEase.

About First American RES
First American RES, a member of The First American Family of Companies, is the nation's largest provider of advanced property and ownership information, analytics and services. First American RES' database covers more than 2,500 counties representing 97 percent of the nation's real estate transactions. With more than 600,000 users nationwide, First American RES products are used by companies to improve customer acquisition and retention, detect and prevent fraud, improve mortgage transaction cycle time and cost efficiency, measure the value of residential and commercial properties, identify real estate trends and neighborhood characteristics, track market performance and increase market share. More information about First American RES can be found on the Internet at www.firstamres.com.

About The First American Corporation (NYSE: FAF)
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 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.

About ComplianceEase®
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in Burlingame, Calif., 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.

Back to CE in the News