LendingQB has announced the completion of an integration with ComplianceEase, where LendingQB integrated ComplianceEase’s ComplianceAnalyzer 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 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.”
