ComplianceEase, a provider of mortgage compliance software, recently announced that its ComplianceAnalyzer solution is now integrated with with LendingPad, a cloud-based loan origination system (LOS) from WEI Technology.
The integration means LendingPad users also using ComplianceEase can now perform real-time audits for regulatory compliance violations without leaving the LOS.
ComplianceAnalyzer audits both first mortgages and home equity loan and lines for federal, state and local requirements, including state predatory lending issues; changes in terms and fees; audit tolerance across all disclosures and changed circumstances; and track post-consummation disclosures.
“We designed LendingPad with the needs of today’s lender in mind,” says Wes Yuan, managing director of WEI Technology, in a release. “By integrating with the most comprehensive auditing solution in the market, we’re helping our lender customers not only ensure regulatory compliance, but also become more efficient.”
“With origination volume down and costs to close up, lenders are looking to technology for a competitive edge,” adds Sanjay Tibrewal, senior vice president of product management for ComplianceEase. “Our integration with LendingPad helps more lenders streamline compliance processes to help accelerate closing, deliver a better borrower experience, and ultimately grow their businesses.”