Lenders One Selects ComplianceEase as Preferred Vendor

""Lenders One Mortgage Cooperative"":http://www.lendersone.com, a national alliance of community mortgage bankers, correspondent lenders, and suppliers of mortgage products and services, has selected risk management and compliance firm ""ComplianceEase"":http://www.ComplianceEase.com as its newest preferred vendor.

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With state restrictions getting tighter and enforcement increasing, smaller mortgage bankers need to draw upon the right resources to remain proactive when it comes to regulatory compliance. By partnering with ComplianceEase, St. Louis-based Lenders One says it can ensure that its members have access to the technology and information to minimize their risk regarding federal and state requirements, as well as evolving regulatory and licensing standards.

""Given the nationwide proliferation of anti-predatory and high-cost laws, not to mention the ever-changing state consumer lending regulations, partnering with ComplianceEase is an ideal fit,"" said Scott Stern, CEO of Lenders One. ""Our members have always been aggressive in their risk management strategy, recognizing its importance in producing solid loans. Equipping them with

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the expertise and compliance efficiencies gained through this relationship can only enhance their performance.""

Lenders One members will have access to ComplianceEase's Web-based ComplianceAnalyzer, which provides automated mortgage compliance audits covering multiple jurisdictions, including federal Truth In Lending Act (TILA), secondary market investor guidelines, and state license-specific lending restrictions.

Monitoring multiple state-by-state tolerances, particularly for TILA and new Good Faith Estimate (GFE) requirements, is nearly impossible when done manually. Lenders One says its members now can be afforded real-time compliance checks throughout their origination process, ensuring greater accuracy and avoiding investor buybacks.

Lenders One will also provide access to the company's TPO Manager, a Web-based licensing management system that performs real-time license verifications and automated ongoing monitoring of third-party originators, as well as HMDA Analyzer, a Web-based HMDA compliance management solution that will enable members to geo-code and edit-check regulatory filings while performing detailed reporting and analysis of their lending patterns.

""The cost of non-compliance is tremendous these days. As we have seen recently, it often results in loss of a license or approval status, which can mean the end of the company for a smaller mortgage banker,"" explained John Vong, president and co-founder of ComplianceEase. ""By working with Lenders One's members, we can offer them the added security, concentrated knowledge and cost effectiveness of enlisting a third party to guide and streamline their compliance and risk management efforts.""