ComplianceAnalyzer PLUS Offers Monetary Protection to Help Restore Confidence in the Mortgage-backed Securities Market

Carlsbad, CA (PRWEB) April 29, 2008 -- ComplianceEase®, the nation's leading provider of automated compliance solutions for the residential mortgage industry, today announced at the Mortgage Bankers Association's Legal Issues and Regulatory Compliance Conference that ComplianceAnalyzer® PLUS (CA+), the first and only regulatory compliance risk mitigation solution that combines an automated compliance system, ComplianceAnalyzer®, with a loan-level insurance-backed warranty, AssureCert®, has been expanded to include coverage for Federal Truth-in-Lending regulations as well as for certain state license-based consumer credit laws and regulations.

"Because of our unique involvement with state regulators, we have been able to work with our insurance partners to broaden the CA+ coverage across the board, from the Federal to the state level, taking the regulatory risk mitigation solution to the next level. This gives lenders and securities issuers unprecedented protection. And most importantly, it is affordable; it only costs around $2 for $25,000 of coverage. This is a great safety net for every lender to have and provides peace of mind in a turbulent market," explained John Vong, president of ComplianceEase.

ComplianceAnalyzer PLUS protects against regulatory compliance losses of up to $250,000 per loan*, making it the most innovative and comprehensive compliance risk protection available. The newly-expanded AssureCert now covers losses associated with fines, settlements, refunds, and related costs resulting from loan-level issues with the Federal, state, and municipal high cost / predatory lending, Truth-in-Lending, and state consumer credit laws and regulations tested by ComplianceAnalyzer. The scope of consequences that originators can protect themselves against has expanded accordingly to include monetary risks from rescission, examiner fines and penalties and costs to cure defects. AssureCert also covers losses from compliance violations that affect secondary market transactions, which can potentially result in costly loan repurchases. The unique warranty even covers the potential for differences in interpretations of laws and regulations that are covered by ComplianceAnalyzer audits. Claims can be made up to five years after certificate issuance and are transferable to third parties (investors / loan servicers), making it the only available solution for secondary market investors, bond issuers, and other financial institutions to specifically target the monetary risk of non-compliance with Federal and state regulations.

Donald Lampe, partner at Womble Carlyle Sandridge and Rice, PLLC, elaborated on the compliance risks lenders face." Of course, high-cost loans remain a major concern for the residential mortgage market, from the standpoint of regulatory risk as well as the ability to sell loans to investors. However, what we are seeing now, in light of the issues in the market that have unfolded over the last 12 months, is an increased focus on other consumer-centric issues that impact mortgage lending, such as prepayment penalties, disclosures and prohibitions on certain types of lender and broker compensation. It makes perfect sense to leverage CA+ audits for true monetary protection against the additional financial risks that this broader set of regulations imposes, including refunds to borrowers and fines from examinations."

As the quantity of laws and regulations increases across the county, the cost and complexity of regulatory compliance continues to grow. In the meantime the market is struggling to get back on track. As a result, lenders and mortgage-backed securities issuers across the nation are increasing their search for effective enterprise risk mitigation solutions in order to transform these regulatory burdens into competitive advantages. CA+ will play a key role in helping to restore confidence in the mortgage-backed securities market. ComplianceEase actively monitors market needs and trends, continuously enhancing the ComplianceAnalyzer PLUS coverage to provide comprehensive protection to better alleviate the regulatory risk and legal consequences that financial institutions can face.

*Base coverage level of $25,000 may be increased through optional upgrades.

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 web-based platform, ComplianceAnalyzer, is the mortgage industry's only patented automated compliance solution. The ComplianceEase expert system utilizes advanced reasoning and decisioning technologies as well as natural language processing 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 client base includes top tier mortgage lenders, banks, and Wall Street firms. The company is managed by a team of highly experienced and innovative mortgage professionals, and is funded by the First American Corporation, the WI Harper Group, and the senior management team. For more information about ComplianceEase, please visit ComplianceEase.com.

Press Contact

ComplianceEase

Nina Travinsky

(650) 373-1111 ext. 1122

n.travinsky(at)complianceease.com

###

Related Articles:

The Swiss Finance Academy and its Swiss Finance Institute Investment Banking Bootcamps Celebrate 4th Anniversary
Swiss Finance Academy Celebrates 4th Anniversary. The Academy continues to attract talented students to its investment banking, trading, financial modeling and hedge fund training programs.

A Finance Broker Can Help Save You Money When Considering A Commercial Loan
When it comes to taking out commercial finance then a finance broker has many advantages over going it alone. When considering a loan then a lot of thought has to be given to it and you have to understand the technical jargon that comes with the finance. Not only can a broker get you the best deal but they are also able to give you information and advice on the different aspects of the loan.

International Finance Bank Invests in Restoring Joy in the Lives of Foster Kids
Company President and Employees set aside day to create safe, fun environment for His House Children's Home.

Online Investing & Online Stock & Share Trading: Difficulty in Taking Stop Losses in the Market
This is an extract of an article which was first printed in Daryl Guppy's Newsletter Tutorials in Applied Technical Analysis on 26 March 2005 and is reprinted here with his permissionA stop loss is a predetermined exit point. When a trade is first planned, the stop loss is designed to protect the trader's capital.

Getting Financing From Banks For Real Estate Investing
People investing in real estate look for capital providers, who will offer the level of capital they need as well as the rate, term, pricing, closing time frame, exit and prepayment options, and recourse provisions. These must suit their individual needs, as well as any value added features on the offer. Choose a capital provider with whom the individual can develop a good, long lasting, working relationship as well as providing the broadest access to the much-needed capital. Those who are experts in dealing with real estate investments are ideal capital providers. There are direct, indirect, and hybrid lenders that provide capital to real estate investors. Banks are direct lenders.

CabinetLiquidators.com Offers Interest-Free Financing Through GE Money Bank
CabinetLiquidators.com is proud to offer interest-free financing through Home Design Plus, a credit service of GE Money Bank. This program is available for purchases of $500.00 or more and includes no money down and no payments or accrued interest for 12 months.

Business Finance and Business Loans Versus Residential Loans
More residential real estate investors are exploring commercial real estate and business loan alternatives as a result of the increasingly chaotic investment environment for residential financing. In these circumstances prospective commercial property owners, business investors and business owners should educate themselves about choices for the business opportunity financing and commercial loan climate that currently prevails throughout the United States.

Finance Investing - Invest In Forex Trading Now!
Finance investing through forex trading is one of the largest money making markets in the world A little known fact is that forex aka forex currency trading accounts for over 2 TRILLION dollars traded a day across the market

Investing & Online Stock & Share Trading: Money & Risk Management - Atkinson Portfolio Planner (1)
This article was originally featured in Daryl Guppy's 'Tutorials in Applied Technical Analysis', voted no 1 trading newsletter in Australia by Shares magazine & no 4 in the world by US Stocks & Commodities magazine and is reprinted here with Daryl's permission.In addition to developing sound technical analysis skills, strong trading psychology coupled with well thought-out money and risk management are also vital key secrets for success when trading or investing in the market.

Investing & Online Stock & Share Trading- The Stock & Share Markets are Booming But Be Warned
I had the pleasure of being invited on a friend's yacht to sail in a race on Sydney Harbour yesterday. On board, as one of our motley crew, I met a top ranking corporate executive from one of Australia's largest banks, who we'll call 'Phil' here for the purpose of this article.

Financing a Car with a Home Equity Loan - LendingTree.com Shares the Facts
Car dealerships are constantly trumpeting their "zero-percent" financing deals. While these may sound attractive, these deals are sometimes too good to be true. Those in the market for a new car might want to consider a different form of financing for their purchase: a home equity loan or home equity line of credit (HELOC). Often used to pay for home renovations, this tool is also sometimes a good fit for car financing.

MacLean Finance Uses Active Money to Allow Mortgage Loan without Deposit or Down Payment
MacLean Finance has managed to break down barriers in the housing market. By securing loans without a deposit or down payment, they have opened the doors to many who had been previously unable to buy a new home.

SNL Financial's Bank Deposit Market Share Ranking Shows Bank of America as No. 1
JP Morgan Chase retains hold on second, while Wachovia bests Wells Fargo.

Bank On It: Places to Hide and Invest Money
Today I passed a thermometer at a bank that read 110 degrees, but I am not telling you that to show you how hot it was. I am telling you that because this bank really needs to fix their thermometer.