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

ComplianceEase® Enhances Product Offerings to Provide Industry's First Automated Solution for True One-Stop Mortgage Compliance
- An industry-leading, intelligent, comprehensive automated compliance system -

San Francisco, Calif. - (BUSINESS WIRE) - Oct. 25, 2004 - ComplianceEase®, a division of LogicEase Solutions Inc., announced today, at the Mortgage Bankers Association's 91st Annual Convention & Expo, new enhancements that will provide the industry's most comprehensive and insured regulatory compliance solution. A new and expanded compliance product, ComplianceAnalyzer™, will bring together automated loan-level anti-predatory lending audits, secondary market investor criteria, and consumer credit compliance in one convenient service, with optional added assurance provided by ComplianceAnalyzer Plus??, which further protects financial institutions with loan-level insurance coverage up to the conforming loan limit.

As part of the company's unique focus on comprehensive automated compliance, ComplianceEase elected to replace its current industry-standard anti-predatory lending compliance solution, PredatorAnalyzer™, with a new offering that expands on its current capabilities. David Girling, executive vice president, explained the decision, "With a customer base of over 130 institutions spanning all segments of the mortgage industry, we continually receive valuable feedback from our clients. Whether it's from a mortgage originator, an aggregator, or a Wall Street firm, the recurring theme is the need for one solution that automates multiple elements of operational compliance and delivers them for one low cost. We have responded to those needs by providing ComplianceAnalyzer."

ComplianceEase designed the new offering to cover the most challenging areas of mortgage and home equity lending compliance. To facilitate secondary market transactions, the solution provides results addressing rating agency criteria and specific secondary market investor guidelines. At the state level ComplianceAnalyzer builds on its anti-predatory lending compliance capabilities by also providing audits for compliance with existing and evolving state usury requirements, restrictions concerning allowable fees and charges, and numerous other areas of regulation across the country.

Expanded state-level compliance is of particular interest to correspondent lenders managing multiple origination channels. Harry Hazard, compliance manager of Sovereign Bank's National Correspondent Lending Group, explained, "The number of compliance policies that must be enforced by a correspondent lender can multiply very quickly. There's great value in having a compliance solution that automates multiple areas of state regulatory compliance. That, together with the ability to automate Sovereign's internal compliance guidelines within the system, made ComplianceEase's solution the clear choice."

As an extensible compliance platform, ComplianceAnalyzer is poised to grow with the industry and its needs. Jason Roth, vice president, added, "The universe of compliance laws continues to expand; but what we found in talking with clients is that the regulations that have been around for years still consume valuable compliance department resources. ComplianceAnalyzer will help our clients further streamline their risk-management operations without purchasing additional products or requiring multiple vendors. We've made one-stop shopping a reality for automated compliance."

About ComplianceEase®
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in San Francisco, California, is a premier provider of intelligent business solutions to the financial services industry. Its ComplianceEase platform provides the industry's first automated compliance solutions 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 the 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