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

ComplianceEase Awards Certification to Four Technology Partners for Helping the Mortgage Industry and Regulators Automate Regulatory Examinations

- Technology providers help build a better industry by augmenting their systems with functionality to help modernize state mortgage regulation -

Savannah, GA - August 11, 2009 - ComplianceEase®, the nation's leading provider of mortgage compliance and risk management solutions, announced today at the 20th American Association of Residential Mortgage Regulators' (AARMR) Annual Regulatory Conference that the following four mortgage technology providers have been awarded with RegulatorConnect™ Platinum Partner Certifications:

Lender Processing Services, Inc. - Empower®
Lender Support Systems, Inc. - LSSI
Mortgage Banking Systems - ProClose®
ProLender Solutions, Inc.

ComplianceEase introduced the certification program earlier this year to help the mortgage industry adapt to the new automated residential mortgage examination initiatives introduced in 2008 by both AARMR and the Conference of State Bank Supervisors (CSBS). The certification program recognizes ComplianceEase technology partners that provide specific capabilities to their state mortgage licensee customers to help them prepare electronic loan data for transmission to regulators through the RegulatorConnect.org portal. In doing so, RegulatorConnect certified partners play a crucial role in building a more modernized mortgage examination process, saving time and money for their lender customers and regulators, and ultimately helping to promote better protection for consumers.

David Bleicken, president of AARMR explained, "When AARMR and CSBS first published the Model Examination Guidelines (MEGs) in July 2007, we knew that there were solutions out in the mortgage industry that would help us to achieve our goal of expediting examinations through automation. With support from the industry's technology providers, state regulators have made that goal a reality, and continue to move towards a more efficiently and more effectively regulated lending environment."

Platinum Partner certification, the highest RegulatorConnect certification level, requires that the partner company provide its users with secure, one-click export of 100 percent of the loan information necessary for mortgage examinations, while also offering up-to-date seamless loan-level compliance audits through ComplianceAnalyzer??. Cary Burch, president and CEO of Lender Support Systems, Inc., added, "Earning the highest level of RegulatorConnect Partner Certification demonstrates our commitment to leverage ComplianceEase's compliance technology to deliver quality and compliant loan document solutions to our customers. It also acknowledges the value we provide to our lenders and our commitment to help the industry meet evolving regulatory requirements."

Stricter regulatory enforcement continues to unfold swiftly at Federal and state levels as a result of the mortgage crisis. Beginning in 2008, state banking and mortgage regulators began to adopt the Examination Automation initiative sponsored by CSBS and AARMR. Through the initiative, regulators sought to make mortgage supervision and enforcement more efficient, while at the same time expanding the scope of examinations. CSBS and AARMR selected ComplianceEase's automated compliance system to help build more modernized, technology-driven mortgage lending oversight, offering more comprehensive consumer protection while requiring less time and cost from the industry.

"One of the most exciting things states are doing these days is finding technology that can help us automate processes for efficiency and uniformity across the country. That uniformity will also make it easier for licensees to conduct self-examination and will provide better transparency of the industry for all," noted Chuck Cross, vice president for Mortgage Regulatory Policy at CSBS.

ComplianceEase's RegulatorConnect.org is a free platform that enables state-regulated mortgage brokers, lenders and servicers to prepare and transfer loan data to state mortgage and banking regulators, reducing costly dependence on paper files. In order for the industry to move to automated examinations, accurate electronic loan information must be readily available. To encourage its technology partners to help facilitate the process of gathering the electronic loan information necessary for the new examination process, ComplianceEase established the RegulatorConnect Certification Program. When state mortgage licensees are sourcing loan origination systems, loan servicing systems, and loan document systems, they can look to RegulatorConnect certified providers and know that they will have out-of-the-box data export functions available to easily gather electronic loan information for submission to regulators.

"The new automated examination process offers consistency in examination standards across all states. As more technology providers participate in the RegulatorConnect initiative, we believe that the increased availability of accurate electronic loan information will be an important next step to build a more robust regulatory system and restore public trust in the mortgage industry," said Michael Chan, vice president of ComplianceEase.

About ComplianceEase®

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 patented platform includes ComplianceAnalyzer - the mortgage industry's leading automated compliance solution. ComplianceEase combines industry and regulatory compliance expertise with innovative technology 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 the nation's top mortgage lenders, and over 350 financial institutions, service providers, and regulators. 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 visit ComplianceEase.com and RegulatorConnect.org.

ComplianceEase, ComplianceAnalyzer, and RegulatorConnect are trademarks or registered trademarks of LogicEase Solutions Inc. All other trademarks and registered trademarks are trademarks of their respective owners

Press Contact

Michael Chan
1.650.373.1111 x1120

# # #

Back to CE in the News