MetaSource and ComplianceEase team up for mortgage market
The two US companies will develop software to assure mortgage lending meets regulatory requirements
MetaSource, the Utah-headquartered provider of business process management and automation solutions, has announced a partnership with Silicon Valley-based ComplianceEase, a developer of mortgage compliance software, to provide automated compliance testing.
MetaSource conducts independent compliance reviews as an independent third party for financial firms in order to lessen risks and assure loan quality, while ComplianceEase’s automated loan auditing tool, ComplianceAnalyzer, covers US federal, state, and municipal regulation.
Mary Kladde, senior vice president of mortgage services at MetaSource, said that the alliance is the result of a long standing collaboration with ComplianceEase, and it will allow the company to: “Deliver accurate, actionable results to help lenders improve their overall loan quality when delivering loans for purchase and preparing for potential regulatory audits.”
“Automation allows the auditing of all documents for delivery timing sequencing, fee names, tolerances, changed circumstances, and reasons for re-disclosures so they can review exceptions,” said Dan Smith, senior vice president of sales at ComplianceEase. “We’re pleased to be selected by a third-party reviewer like MetaSource to deliver thorough loan auditing akin to what the secondary market investors and examiners will see so that lenders can originate confidently and efficiently.”