ComplianceEase has expanded its partnership with Wipro Gallagher Solutions (WGS) to offer a complete digital mortgage bundled services package, on a closed-loan basis, the companies announced.
ComplianceEase said NetOxygen SaaS offers the power of WGS’ NetOxygen LOS, in an easy-to-adopt, fast, scalable, and “pay-as-you-grow” model. NetOxygen SaaS provides comprehensive product coverage across retail, wholesale, correspondent, and consumer lenders.
“The high cost of origination combined with shrinking origination volumes are creating significant margin pressure,” WGS Head of Product Management and Strategy, Compliance Scott Dunn said in a release. “By expanding our partnership with ComplianceEase, we are delivering a solution and a pricing model that helps lenders not only improve efficiency and monitor compliance, but also reduce the cost of origination.”
ComplianceEase’s compliance management product, ComplianceAnalyzer, allows lenders to audit all liens based on lenders’ license types, exemptions and pre-emptions covering all levels of federal, state, and municipal consumer lending laws and regulations.
“Times like these demand new thinking that aligns the interests of technology providers with their clients,”ComplianceEase President John Vong said. “We partnered with Wipro to substantially reduce lenders’ risk of production cost by charging them only when they close loans. Our new bundled offering gives lenders access to two best-of-breed technology solutions and to do it on a pay-as-you-go basis.”