LoanSphere has integrated ComplianceEase’s automated compliance solutions into its loan origination system (LOS), the companies announced.
The integration will enable users of LoanSphere Empower to audit loans for regulatory compliance using ComplianceAnalyzer with TRID Monitor without leaving the LOS.
“We are continually focused on providing our clients with the most comprehensive support and automated workflow solutions to support their compliance efforts,” said Rich Gagliano, president of Black Knight’s Originations Technologies division, which offers the LoanSphere LOS. “The Empower software’s base integration with ComplianceAnalyzer and the recent expansion to include the TRID Monitor enables our clients to seamlessly interact with these products from Empower.”
ComplianceAnalyzer with TRID Monitor checks for changes in terms and fees throughout the origination and closing processes; audits tolerance across all disclosures and changed circumstances; and tracks post-consummation disclosures, including those with a cure to the borrower.
“ComplianceAnalyzer with TRID Monitor was designed to enable lenders to continuously monitor the entire origination process and support compliance with all TRID regulations,” ComplianceEase President John Vong said. “Our enhanced integration with Empower will allow us to help more lenders maintain high compliance standards.”