Skip to main content

Mortgage Cadence Adds Compliance Monitoring Solution to Its Platform

NationalMortgageProfessional.com
Jul 12, 2018
Mortgage Cadence, an Accenture company, has integrated its ComplianceAnalyzer product with the Enterprise Lending Center (ELC), Mortgage Cadence's proprietary loan origination platform

Mortgage Cadence, an Accenture company, has integrated its ComplianceAnalyzer product with the Enterprise Lending Center (ELC), Mortgage Cadence's proprietary loan origination platform. The integration enables ELC users to systematically audit loans for regulatory compliance without leaving the platform.
 
ELC facilitates lending for forward and reverse mortgages in retail, wholesale and correspondent lending channels and across a multitude of mortgage products, including home equity lines of credit. The integration of ComplianceAnalyzer provides a comprehensive, real-time auditing and monitoring solution within the ELC.
 
"The cost to produce a loan has been on the rise, largely because of compliance demands that have given way to inefficiencies and slower speed to close for many lenders," said Trevor Gauthier, Mortgage Cadence's President and Chief Operating Officer. "Mortgage Cadence is committed to providing lenders with the tools to help solve for these increased compliance demands, and our integration with ComplianceAnalyzer will do just that."
 
ComplianceAnalyzer enables lenders of all sizes to improve asset quality and value, reduce compliance risk, negotiate better execution with secondary market investors, and capture the data needed to prepare lenders for regulatory exams.
 
The solution performs audits for federal high-cost and higher-priced loan regulations, the Secure and Fair Enforcement for Mortgage Licensing Act, state high-cost and anti-predatory regulations, and state license-based consumer lending laws and regulations, as well as compliance guidelines from secondary market investors and government-sponsored enterprises. It also performs TRID, RESPA 2010 and pre-2010 forms tests to validate California's per diem interest calculations, a key differentiator in the market, as compliance for California originators remains a top priority to avoid penalties and fees.
 
"Our automated loan-level compliance technology helps lenders comply with federal and local regulations and minimize operational risks," said John Vong, ComplianceEase's President. "We're pleased to partner with Mortgage Cadence to help more lenders improve loan quality, reduce risk and increase profitability."


 
Published
Jul 12, 2018
More from
Tech
Black Knight Integrates Servicing Digital With AVM, PPE, And Loss-Mitigation Technology

Black Knight Inc., announces the enhancement of their servicing digital solution by integrating it with loss mitigation, automated valuation model (AVM), and product, pricing, and eligibility (PPE). 

Tech
Aug 04, 2021
Localize Raises $25M In Funding And Introduces Hunter, The Human-AI Concierge Service

Localize has developed an AI-driven platform to assist buyers and brokers in solving existing pain points related to the real estate market.

Tech
Aug 04, 2021
Flagstar Bank's Christy Soukhamneut To Appear On The Mortgage Leadership Outlook

The next installment in the Mortgage Leadership Outlook's Tech Stack Heroes collaboration with BeSmartee is set to feature Christy Soukhamneut, chief of staff/director of mortgage strategic initiatives for Flagstar Bank.

Tech
Aug 02, 2021
First Tech Federal Credit Union Chooses ICE Mortgage Technology’s EPPS

First Tech Federal Credit Union has chosen ICE Mortgage Technology’s EPPS to improve automation, compliance, and scalability to meet the demands of over 720,000 members. 

Tech
Jul 29, 2021
ICE Makes Enhancements To Its Mortgage Prepayment Model

The Intercontinental Exchange, Inc. made enhancements to its mortgage prepayment model with daily residential mortgage rates from ICE Mortgage technology.

Tech
Jul 27, 2021
Liquid Mortgage Technology Supports Efficient Debt Market

Liquid Mortgage received a U.S. patent for its distributed ledger technology to support its future vision of efficient and transparent debt markets.

Tech
Jul 22, 2021