How Technology Is Transforming Compliance in the Residential Mortgage Industry

Residential Homes Depict the Residential Mortgage Industry in this Picture

Consumer protection regulations in the mortgage lending process have grown exponentially since the Great Recession. U.S. lenders must comply with federal mandates, regulations from 50 different states and nearly 200 different license types utilized by non-banks. Every step of the mortgage lending process requires specific disclosures, creating significant regulatory compliance risks. Fortunately, technology is quickly evolving to address the challenge.

In September 2020, SitusAMC announced the acquisition of LogicEase Solutions Inc., parent of ComplianceEase®, the maker of the leading automated compliance software for residential mortgages, ComplianceAnalyzer®. Since its founding in 2001, ComplianceEase has processed audits for over 90 million loans, supporting mortgage originators, secondary market participants, and federal and state regulators. The company’s flagship product, ComplianceAnalyzer®, complements SitusAMC’s residential technology offerings, including its systems of record for the custodial and warehouse space (emBTRUST and ProMerit); conduit and pipeline management system (RateLock); document classification and data extraction technology (Acuity); document management system (DocAcuity); and loan accounting and master servicing system (SBO.NET).

ComplianceEase founder John Vong, who joins SitusAMC as Vice Chairman of Technology, and ComplianceEase CEO Michael Jackman discuss the ways technology is transforming compliance in the residential mortgage industry, and how the integration with SitusAMC will facilitate better solutions for lenders.

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