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Digital Age Coming to Automated Compliance

ComplianceEase, a provider of automated compliance solutions to the financial services industry, announced that its ComplianceAnalyzer is now integrated with LendingPad, the cloud-based loan origination system (LOS) from WEI Technology LLC.

With this integration, LendingPad users can perform real-time audits for regulatory compliance violations without leaving their 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," said Wes Yuan, Managing Director of WEI Technology. "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,” said 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.”

About Author: Mike Albanese

Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville.
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