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

ComplianceEase, Guardian Mortgage Documents, Expand Partnership to Provide Real-Time One-Touch Automated Compliance, Doc Services to Large Investors
Seamless Interface Offers Users Ability to Perform Effective Real-time, Loan-level Audits that Verify Compliance with State Consumer Lending Regulations, High-cost/Anti-predatory Lending Laws and Other Federal Compliance Requirements

SAN FRANCISCO - Nov. 27, 2007 - In a time when mortgage lenders are looking at every aspect of their business for possible improvements and cost savings, ComplianceEase® and Guardian Mortgage Documents' (GMD) have expanded their three-year strategic alliance to offer more robust risk management tools for large investors, which will enhance compliance services for correspondent and broker quality control procedures.

ComplianceEase, a leading provider of mortgage industry automated compliance and risk management solutions, and GMD, a leading provider of scalable document preparation, have jointly developed a unique seamless interface solution for one of the top five mortgage investors in the United States. The new solution combines compliance and document production into a "one touch," web-based workflow system, which is available to correspondents and brokers from the investor's Web portal.

The system allows correspondents and brokers to perform effective real-time, loan-level compliance audits that verify adherence to the investors' guidelines and compliance. The new system is unique in that it increases investor loan quality by generating closing documents only when all defined compliance thresholds have been met.

"This new interface delivers the deepest, most integrated compliance solution we've seen in the industry for helping correspondents and brokers at the investor level," said John Vong, president of ComplianceEase. "The investor maintains total upfront control by defining all of the compliance rules that apply to their seller network."

The new system is an extension of an existing interface from the investor's Web site that enables users, once the loan is locked, to draw documents from GMD's Web-based system. All data automatically passes via seamless interface between GMD and ComplianceEase's ComplianceAnalyzer®. Consequently, each document package is subject to a ComplianceAnalyzer audit. If the document data fails the tests for compliance, the user will not receive documents - but will receive a detailed ComplianceAnalyzer report, which displays incidents of non-compliance in an easy-to-read summary format, which also includes a detailed narrative findings report. In this case, correspondents use the report to correct or update their file and resubmit through GMD for documents. Document requests that pass the ComplianceAnalyzer audit are also accompanied by a full set of reports. "In addition to ComplianceAnalyzer, GMD can lock-down any number of data fields it receives from the investor to help further ensure quality control," said Tim Anschutz, vice president of marketing at GMD. "Consequently, users must change these fields in the investor's system of record and redraw documents - the investor always knows what they are buying."

"Lenders are recognizing the value of our solution even more during these uncertain times in the mortgage industry," added Vong. "This is a tremendous tool to prevent repurchase and buy backs, which are really what lenders are concerned about, in prime and subprime loans. Our solution, working seamlessly with Guardian's technology, provides lenders with the highest level of marketability for their loans, which increases liquidity for faster turn times on funding. This one-touch, failsafe compliance review at the investor level means they will no longer need to rely on a closer's interpretation of a loan's risk and it will lead to a pipeline of compliant - and therefore more profitable - loans."

About ComplianceEase
LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a premier provider of business solutions to the financial services industry. Its web-based platform - ComplianceAnalyzer® is the mortgage industry's leading automated compliance solution. The 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 LogicEase, visit www.ComplianceEase.com.

About Guardian Mortgage Documents
Lakewood, Colorado-based Guardian Mortgage Documents (GMD) is a leading provider of document preparation, automated management workflow and fully customized outsourced solutions to the national financial services industry. Since 1987, GMD's products and services have been built on best-of-class technology designed to provide an inventory of scalable and flexible multi-product capabilities, which can be customized to deliver elegant client solutions. From simple document preparation to fully integrated and customized workflow solutions, GMD technology streamlines all processes to increase efficiencies.

GMD has provided document preparation and delivery services to the mortgage industry for more than 20 years and has several top 10 lenders as long-term customers. The company produces millions of documents a year for its customers and has received multiple industry recognition awards. In addition, GMD has received the highest vender performance score from multiple top tier lenders. For general information, visit www.gmd.com or call (800) 275-4885.

GMS, a division of Guardian Mortgage Documents, provides the national lending community with mortgage fulfillment outsource services that focus on back-office operations including: vendor management, title and escrow, closing coordination, document preparation and post-closing. For more information, visit www.gmd.com/gms or contact GMS at 800-521-3960, or 303-942-2004.

ComplianceEase Media Contact:
Alex Spivak
(650) 373-1111
aspivak@complianceease.com

 

# # #

Back to CE in the News