ComplianceEase, an automated compliance solutions provider to the financial services industry, has expanded the integration between its flagship compliance solution, ComplianceAnalyzer, and LoanSphere Empower loan origination system (LOS) to include TRID Monitor, according to a company press release.
The LoanSphere Empower system is offered by Black Knight, Inc., a provider of integrated software, data and analytics solutions.
The direct integration, along with Black Knight’s orchestration engine automation, lets Empower software clients systematically audit loans for regulatory compliance using ComplianceAnalyzer with TRID Monitor — without user intervention or ever leaving the LOS. ComplianceAnalyzer with TRID Monitor is available to all lenders using the Empower base system.
ComplianceAnalyzer with TRID Monitor is a comprehensive, real-time TRID auditing solution that can check for any changes in terms and fees throughout the origination and closing processes; audit tolerance across all disclosures and changed circumstances; and track post-consummation disclosures, including those with a cure to the borrower, the release states. In addition, ComplianceAnalyzer with TRID Monitor performs audits for federal high-cost and higher-priced loan regulations, the Secure and Fair Enforcement (SAFE) for Mortgage Licensing Act, state high-cost and anti-predatory regulations, and state license-based consumer lending laws and regulations. The solution can also perform audits for compliance guidelines from secondary market investors and government-sponsored enterprises.
“We are continually focused on providing our clients with the most comprehensive support and automated workflow solutions to support their compliance efforts,” Rich Gagliano, president of the Originations Technologies division for Black Knight, said in the release. “The Empower software’s base integration with ComplianceAnalyzer and the recent expansion to include the TRID Monitor enables our clients to seamlessly interact with these products from Empower.”
“ComplianceAnalyzer with TRID Monitor was designed to enable lenders to continuously monitor the entire origination process and support compliance with all TRID regulations,” John Vong, president of ComplianceEase, said in the release. “Our enhanced integration with Empower will allow us to help more lenders maintain high compliance standards.”