Mortgage Cadence Adds Leading Compliance Auditing and Monitoring Solution to its Loan-Origination Platform
July 12 2018 - 11:59AM
Business Wire
Mortgage Cadence, an Accenture (NYSE: ACN) company, has
integrated ComplianceAnalyzer®, a leading compliance solution from
ComplianceEase®, with the Enterprise Lending Center (ELC), Mortgage
Cadence’s proprietary loan-origination platform. The integration
enables ELC users to systematically audit loans for regulatory
compliance without leaving the platform.
ELC facilitates lending for forward and reverse mortgages in
retail, wholesale and correspondent lending channels and across a
multitude of mortgage products, including home equity lines of
credit. The integration of ComplianceAnalyzer provides a
comprehensive, real-time auditing and monitoring solution within
the ELC.
"The cost to produce a loan has been on the rise, largely
because of compliance demands that have given way to inefficiencies
and slower speed to close for many lenders,” said Trevor Gauthier,
Mortgage Cadence’s president and chief operating officer. “Mortgage
Cadence is committed to providing lenders with the tools to help
solve for these increased compliance demands, and our integration
with ComplianceAnalyzer will do just that."
ComplianceAnalyzer enables lenders of all sizes to improve asset
quality and value, reduce compliance risk, negotiate better
execution with secondary market investors, and capture the data
needed to prepare lenders for regulatory exams. The solution
performs audits for federal high-cost and higher-priced loan
regulations, the Secure and Fair Enforcement for Mortgage Licensing
Act, state high-cost and anti-predatory regulations, and state
license-based consumer lending laws and regulations, as well as
compliance guidelines from secondary market investors and
government-sponsored enterprises. It also performs TRID, RESPA 2010
and pre-2010 forms tests to validate California’s per diem interest
calculations, a key differentiator in the market, as compliance for
California originators remains a top priority to avoid penalties
and fees.
"Our automated loan-level compliance technology helps lenders
comply with federal and local regulations and minimize operational
risks," said John Vong, ComplianceEase’s president. "We’re pleased
to partner with Mortgage Cadence to help more lenders improve loan
quality, reduce risk and increase profitability."
About Mortgage Cadence
Since 1999, Mortgage Cadence, champions of the lending process,
have been providing the best people, process and technology for
enterprise and mid-market lenders who desire to deliver an
exceptional borrower experience. From point-of-sale through
post-closing Mortgage Cadence offers reliable software and
dedicated people, supporting lenders every step of the way. Visit
www.mortgagecadence.com for more information.
About ComplianceEase
Headquartered in the Silicon Valley, ComplianceEase®, a division
of LogicEase Solutions Inc., is a leading provider of risk
management solutions to the financial services industry.
ComplianceEase's patented platform includes ComplianceAnalyzer®,
the mortgage industry's most adopted automated compliance solution
with the most comprehensive TRID auditing. ComplianceEase combines
regulatory expertise with innovative technology to power end-to-end
risk management solutions that help financial institutions improve
compliance controls and increase profitability. The company's
growing client base includes financial institutions, service
providers, law firms, GSEs, and three of the top five mortgage
lenders in the U.S. ComplianceEase's automated compliance solutions
have also been adopted as e-Exam tools by federal and state banking
and mortgage regulators. For more information,
visit ComplianceEase.com or call 1.866.212.3273.
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version on businesswire.com: https://www.businesswire.com/news/home/20180712005088/en/
Mortgage CadencePamela Herrmann,
+1-720-480-7655pamela.a.herrmann@mortgagecadence.comorCampbell
Lewis CommunicationsBill Campbell,
+1-212-995-8057bill@campbelllewis.com
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