ComplianceEase has integrated its automated compliance solution with Promontory Fulfillment Services LLC’s (PFS) white-label mortgage origination platform, the companies announced.
The integration enables PFS to automatically audit mortgage loans for regulatory compliance with all federal, state and municipal regulations, including TRID and QM, as well as federal and state high-cost and anti-predatory lending violations.
“Our solutions are widely used by leading bank and non-bank originators, as well as by the federal and state regulators who examine them,” ComplianceEase Executive Chairman John Vong said in a release. “They are designed to take time and cost out of the origination process by eliminating the ‘stare-and-compare’ manual reviews, so they align well with PFS’ business model and value proposition.”
PFS enables banks and credit unions to offer a full range of mortgage products without building and maintaining a mortgage operation.
“Compliance is a top agenda item in every discussion we have with clients and prospects,” PFS Managing Director Ken Janik said. “Regulated institutions often express concern about potential compliance issues and reputational risk. We have built an exceptional internal compliance team. We’ve now also integrated with the industry’s leading automated compliance software, ComplianceAnalyzer.”