Mortgage Cadence has integrated ComplianceEase’s compliance solution into its loan-origination platform, both companies announced.
The new integration enables users of Mortgage Cadence’s Enterprise Lending Center to audit loans for regulatory compliance without leaving the platform.
“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,” Mortgage Cadence President and Chief Operating Officer Trevor Gauthier said in a release. “Mortgage Cadence is committed to providing lenders with the tools to help solve these increased compliance demands, and our integration with ComplianceAnalyzer will do just that.”
ComplianceAnalyzer helps lenders 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, according to ComplianceEase. The company said 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 for compliance guidelines from secondary market investors and government-sponsored enterprises.
“Our automated loan-level compliance technology helps lenders comply with federal and local regulations and minimize operational risks,” ComplianceEase President John Vong said. “We're pleased to partner with Mortgage Cadence to help more lenders improve loan quality, reduce risk and increase profitability.”