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

ComplianceEase Signed 55 New Lenders and Investors Grew User Base to 2,000 Plus in 2003
- On Track for Significant Growth of 400% in 2004 -

San Francisco, Calif. - January 28, 2004 - ComplianceEase, the leader in automated compliance solutions for the residential lending industry, announced today that in 2003 the company added 55 new clients while renewing contracts with all existing clients. Its user base grew to more than 2,000. As a result of this growth, ComplianceEase's revenues are on track to increase by 400% in 2004. The expected growth has also catalyzed additional hiring and plans for headquarters facility expansion.

ComplianceEase's flagship product, the PredatorAnalyzerTM automated compliance solution developed to be functional and flexible, and can easily be adapted to different types of operations, from retail originations to warehouse lending operations. The demand for the product features by the different operations are reflected in the diversity of the Company's client base that range from regional mortgage banks to secondary market investors, including industry leaders like, EMC Mortgage (a division of Bear Stearns®), First Collateral Services (a division of Citigroup®), and Sovereign Bank to name a few.

"ComplianceEase has been able to achieve significant growth in revenues while adding and diversifying our client base. The reasons are that in additional to the strong demand for our product features of the PredatorAnalyzerTM by the different operations, we have been able to add service offerings to include compliance solutions for home equity lines of credit (HELOC), identity fraud management, as well as the U.S.A. PATRIOT Act," said John Vong, chief executive officer.

"There are now over 15 newly and previously enacted high-cost, anti-predatory lending legislation for open-ended credit," said Donald Lampe, outside general counsel for ComplianceEase. "Therefore, we need to and we do continue to work very closely with regulators, Wall Street firms, and rating agencies to learn their concerns and overall risk tolerances, so that we may know the exact risk standards and enhance the compliance tools that will assist our clients in their compliance risk management." Lampe added.

"ComplianceEase is experiencing significant growth in all areas of operations. We attribute much of this success to our product and service offerings and the dedicated efforts of our team members. Strong marketing partnerships with industry technology leaders like SysdomeTM and Accenture®, who recognize the urgent need of automated compliance solutions for high-cost and anti-predatory lending laws," noted Vong.

About ComplianceEase®
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in San Francisco, California, 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