COSTA MESA, Calif. /California Newswire/ — LendingQB, a provider of seamless mortgage lending technology, announced that it completed an integration with ComplianceEase, the leading provider of mortgage compliance and risk management solutions. LendingQB integrated ComplianceEase's ComplianceAnalyzer(R) product with its end-to-end loan origination system (LOS).
The solution automatically runs continuous real-time audits throughout the origination lifecycle of the loan to ensure compliance with federal, state, and municipal consumer credit regulations.
Using this unique integration, lenders can conduct compliance audits as early as the point-of-sale (POS), thus catching and addressing compliance issues much sooner in the origination process to save time and money. Most systems initiate compliance audits closer to the loan closing process, rather than at the POS where loan officers work. What's more, LendingQB and ComplianceEase have enhanced the integration so that audits automatically run behind the scenes in real-time up until the point the loan closes. While most mortgage compliance checks must be initiated manually, this integration is automatic and requires no human intervention.
Also unique to the integration is that it's completely transparent to users working in LendingQB's Web-based LOS platform. Whether it's a loan officer, processor, compliance officer or closing agent, employees never have to leave the application they are accustomed to using. As a result, the lending workflow remains seamless and disruptions and manual interventions are eliminated.
"At LendingQB, we are ultra-focused on making the lending workflow truly seamless to eliminate manual touch points and the need to jump to another application to complete various tasks," said Binh Dang, president of LendingQB. "We're very selective about our integration partners; we wanted to take full advantage of the Web services that ComplianceEase developed so we could achieve absolute transparency. With this integration, a user doesn't need to remember to run checks because ComplianceAnalyzer is always running in the background. We invested significant development resources to achieve this level of integration."
"These days, it's not common for mortgage lenders to implement compliance checks continuously throughout the origination process," said Jason Roth, senior vice president of ComplianceEase. "The integration that we developed with LendingQB takes compliance assurance to a new level. The audits are seamless within the LOS, performed much earlier in the origination process, and constantly executed without the need for users to think about them."
LendingQB is a Costa Mesa, Calif.-based company that specializes in loan origination technology solutions and services for the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan origination platform. The solution is designed to meet the needs of all types of mortgage lenders-large or small, wholesale or retail, correspondent or Internet-based-with specialized tools that are targeted, customizable and flexible. LendingQB uses a consultative technology assessment approach before engaging with new clients, and places a strong emphasis on the utilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizational performance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visit http://www.lendingqb.com/.
ComplianceEase(R), a division of LogicEase Solutions Inc., headquartered in the Silicon Valley region of San Francisco Bay Area, is a leading provider of risk management solutions to the financial services industry. ComplianceEase's patented platform includes ComplianceAnalyzer(R) – the mortgage industry's most adopted automated compliance solution. ComplianceEase combines industry and regulatory compliance expertise with innovative technology to power end-to-end risk management solutions to assist financial institutions achieving regulatory compliance, mitigating operational risk, improving efficiencies and enhancing profitability. ComplianceEase's significant and growing client base includes four of the top five mortgage lenders in the nation, financial institutions, service providers, law firms, and regulators. ComplianceEase's automated compliance solutions have been adopted as e-Exam tools by state banking and mortgage regulators, through the Conference of State Bank Supervisors. For more information visit http://ComplianceEase.com or call 1.866.212.Ease.
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