As we designed the LendingEase e University solution we were fortunate to be able to draw on years of experience providing easy to use internet-based risk-management technology to the mortgage industry as well as our team's mortgage lending compliance and operational expertise
San Diego, Calif. (PRWEB) October 12, 2009
LogicEase Solutions Inc. (LogicEase®), the company that has provided the ComplianceEase® suite of industry-leading mortgage compliance and risk-management solutions since 2000, announced today at the Mortgage Bankers Association's 96th Annual Convention and Expo the launch of LendingEase™ e University, a new online solution that delivers dynamic banking and mortgage lending education and training through a centralized platform that also enables financial institutions to manage and track progress towards meeting regulatory and institution-specific requirements.
The banking and mortgage industries' ongoing reactions to the housing and credit crisis have created new challenges within lending operations as institutions strive to remain competitive in an era of more rigorous underwriting and risk-management requirements. At the same time, from outside their organizations, lenders face unprecedented regulatory compliance challenges as a result of continuing government response to the crisis. To operate efficiently institutions must make sure that staff members are up to date with the latest operational requirements and proficient enough to keep their lending operations competitive. To ensure they steer clear of regulatory violations, lenders must also empower their entire organizations with the knowledge needed to correctly and consistently implement compliant lending practices. With LendingEase e University, financial institutions can meet these challenges by delivering dynamic and informative courses and centrally managing training requirements throughout the enterprise.
The passage of the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), part of the landmark Housing and Economic Recovery Act of 2008 (HERA), further cemented the need for centralized management of education by establishing the nation's first federal standards for mortgage training and education. The Nationwide Mortgage Licensing System (NMLS), created by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR), is responsible for implementing these requirements and approving course providers. To assist the mortgage industry in fulfilling the new pre-licensing training and continuing education requirements mandated by the SAFE Act, LendingEase e University has been approved as a course provider by NMLS.
"As we designed the LendingEase e University solution we were fortunate to be able to draw on years of experience providing easy to use internet-based risk-management technology to the mortgage industry as well as our team's mortgage lending compliance and operational expertise," added Jason Roth, senior vice president at LogicEase. "We are excited to be able to offer lenders dynamic and informative courses, as well as a robust system to manage their training initiatives. Comprehensive training works hand-in-hand with the other technology solutions we provide, empowering the mortgage industry to operate as efficiently as possible, while carefully managing risk."
LendingEase e University includes a comprehensive and feature-rich learning management system (LMS) that delivers educational content in a variety of formats, from webinars and instructor-led training, to interactive self-paced online e Learning courses. The robust LMS provides cutting-edge risk-based reporting, tracking and analytics to deploy and manage e Learning across an entire financial institution, regardless of its size. Delivering education and training solutions via the Internet provides employees with the flexibility and convenience demanded by today's busy corporate world. The platform offers students ease of access using only a web browser from wherever their job takes them, eliminating the travel time and costs associated with conventional training programs. The LMS enables interactive learning, collaboration, testing, tracking, administration, reporting, and certification.
Jeff Walton, CEO of National Residential Mortgage, a division of First Arizona Savings, FSB, explained, "In this compliance-intensive lending environment, training is the key to building an efficient and competitive loan origination operation. We are excited to implement LendingEase e University across our entire company for all of our team members. Since 2003, I've had nothing but great experiences using ComplianceAnalyzer® from ComplianceEase. Over the years, ComplianceEase has made my life easier at various mortgage companies by keeping us in compliance with all of the various Federal, state, and local laws and regulations. I'm very familiar with the technology and the expertise that goes into their compliance solutions and it's great to know that LendingEase is built upon the same foundation."
Developed as a robust SCORM (Sharable Content Object Reference Model) compliant e Learning solution, LendingEase e University's full-featured LMS offers interactive courses, many with audio and video, for a unique learning experience. The built-in library of over 200 courses covers diverse topics, from safety and soundness of banking operations to consumer lending laws and regulations. The course catalog places a particular focus on training in areas that pose the highest risk to a financial institution's banking and mortgage lending operations. All of the courses, resources and reference materials delivered as part of the solution feature high-quality content developed by leading industry experts and faculty members. Financial institutions can also easily customize LendingEase e University to meet their unique training needs by adding their own SCORM courseware and tests and opting to have their own branded enterprise portal. The LendingEase e University platform features other informational resources such as a quick reference guide to banking and mortgage regulations and a searchable library of reference materials.
"It's quite common these days for lenders of all sizes to place a focus on maintaining a compliant operation," said John Vong, president of LogicEase. "Using computer-based training is the most cost-effective way to educate an entire team and build a compliant lending operation. Combining technology for loan-level compliance audits with an e Learning platform leads to higher-quality loans, more efficient operations and reduced costs - a competitive edge in the marketplace that's difficult to beat."
About National Residential Mortgage
National Residential Mortgage, headquartered in Phoenix, Arizona, is a full-service residential mortgage loan origination organization. National Residential Mortgage is a division of First Arizona Savings FSB, Member FDIC.
LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a premier provider of intelligent business solutions to the financial services industry. Its 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 the nation's top mortgage lenders, and over 400 financial institutions, service providers, attorneys, 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 LendingEase.com