Digital Risk Partners with ComplianceEase

Share Article

Delivering the Most Comprehensive Risk Analysis to the Residential Mortgage Industry

The addition of ComplianceAnalyzer to the enhanced Advisory Services offering combines Digital Risk's core competency in the due diligence and forensic loan review area with ComplianceEase's comprehensive automated compliance tool, and offers the most compelling best-of-breed solution available in the marketplace

Digital Risk, a leading provider of risk analysis and mitigation services, is pleased to announce the addition of ComplianceEase's industry-standard automated compliance system, ComplianceAnalyzer®, to its enhanced proprietary risk mitigation software platform: RiskIQ.

The partnership provides integration of ComplianceAnalyzer into the RiskIQ platform, allowing Digital Risk and its clients to have real-time access to loan-level compliance risk analysis for all federal, state, and municipal consumer credit and high-cost laws and regulations based on lending license type.

"The addition of ComplianceAnalyzer to the enhanced Advisory Services offering combines Digital Risk's core competency in the due diligence and forensic loan review area with ComplianceEase's comprehensive automated compliance tool, and offers the most compelling best-of-breed solution available in the marketplace," said Alex Santos, Chief Operating Officer of Digital Risk. "We deliver a tremendous benefit to the bottom line of our clients. There are numerous federal, state, and local lending laws in effect across the nation and the penalties for non-compliance are very costly. Additionally, with the increased number of FHA loans on the marketplace, integration with a system designed with FHA compliance in mind was a key motivating factor in our selection process. Our clients can now request a complete compliance report generated by ComplianceAnalyzer and not have to worry about buying a non-compliant loan, even if it's subject to the additional requirements placed on FHA-insured loans."

Accurately quantifying and effectively mitigating areas of regulatory compliance risk are the top priorities for mortgage lenders and investors today. Moreover, constantly changing provisions in high-cost and anti-predatory lending legislation can hold those who acquire loans liable for violations, forcing the Capital Markets to place additional focus on compliance due diligence. ComplianceAnalyzer has proven to be one of the most effective ways to address these issues.

ComplianceAnalyzer organizes results of compliance reviews into one easy-to-understand report, delivered through Digital Risk's Advisory Services, providing threshold and variance analysis, and individual itemizations of points and fees tests. With a single click users can request a complete trail of compliance reviews across all applicable laws and regulations in addition to secondary market criteria. When potential violations are detected, the system gives narrative explanations. ComplianceAnalyzer reports reference the reasoning, calculations, citations, and text of relevant legislation and requirements in plain English.

"We are very excited about this alliance, as it greatly enhances our ability to provide mortgage lenders and investors with the most comprehensive risk analysis solution," said Dan Smith, vice president of ComplianceEase. "Our clients will appreciate and benefit from the added flexibility and streamlined capabilities resulting from the integration with Digital Risk's best-in-class due diligence solution," noted Smith.

About Digital Risk
Digital Risk, LLC provides reliable, one-stop risk mitigation solutions for the loan originators, servicers, the secondary market and investors. The Orlando, Florida-based company partners with all available governmental and privately held data sources, giving clients information necessary for proper application due diligence. For more information visit http://www.digitalrisk.com.

About ComplianceEase
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a premier provider of intelligent business solutions to the financial services industry. ComplianceEase's patented platform includes ComplianceAnalyzer - the mortgage industry's leading automated compliance solution. ComplianceEase combines industry and regulatory compliance expertise with innovative technology to power beginning-to-end solutions in a fraction of the time and for a fraction of the cost of traditional approaches, while providing high levels of accuracy and integrity. ComplianceEase's significant and growing client base includes 4 of the top 5 mortgage lenders in the nation, and over 250 financial institutions, service providers, and regulators. Managed by a team of highly experienced and innovative mortgage professionals, the company is funded by the First American Corporation, the WI Harper Group, and the senior management team. For more information visit http://www.ComplianceEase.com

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Daniel Smith
Visit website