NEWS SOURCE: Portellus Inc.
Alliance Helps Lenders More Efficiently Manage Mortgage Compliance
IRVINE and BURLINGAME, Calif. – August 11 (SEND2PRESS NEWSWIRE) — Portellus Inc., a leading provider of technology tools and services for the financial services industry, and ComplianceEase(R), a division of LogicEase Solutions Inc., a premier provider of regulatory compliance and risk management solutions, announced the formation of a strategic partnership that has integrated ComplianceEase’s automated compliance solution, ComplianceAnalyzer(tm) into the Compliance Engine of Portellus’ Loan Origination System (LOS).
ComplianceAnalyzer is a leading automated compliance solution that provides rapid response times and accurate audit results both of which are critical in today’s fast changing and demanding regulatory environment. By utilizing Java and XML technology native to Portellus’ technology platform, lenders can dramatically reduce the costs associated with ensuring loan-level compliance against the various federal, state, and municipal legislation. With ComplianceAnalyzer embedded into Portellus’ Lending Compliance Engine, lenders of all sizes can successfully manage the risks associated with regulatory compliance while helping lenders increase the velocity of their origination.
Harbourton Mortgage Investment Corp. (HMIC), a Calif.-based national wholesale lender, will be the first lender to utilize the integrated solution and is slated to go live in October.
“The integration of ComplianceAnalyzer into Portellus’ LOS creates out-of-the-box functionality and integration that would otherwise have required time consuming and costly development work,” said Skip Hulme, director of lending solutions at Portellus Inc. “This partnership delivers a quick and easy-to-implement compliance engine that utilizes the powerful ComplianceEase platform to offer lenders a seamlessly integrated, comprehensive, up-to-the-minute automated compliance solution.”
“The Web-based technology and rules-based decisioning utilized by both ComplianceEase and Portellus each create a number of synergies between the two companies”, said David Girling, executive vice president of ComplianceEase. “ComplianceEase and Portellus are a natural fit, and will allow mortgage originators of all sizes to audit up to 100% of their loan production, effectively mitigating operational risk with the click of a button from Portellus’s loan origination platform.”
ComplianceAnalyzer is supported by an exhaustive legal rules library and utilizes advanced rules-based decisioning. The solution organizes results of mortgage compliance reviews with threshold and variance analyses, individual itemizations of points and fees tests, reasoning, calculations, and citations of relevant legislation in one easy-to-read report.
The companies say that the integration is available by request through Portellus’ loan origination system.
About ComplianceEase(R)
ComplianceEase, a division of LogicEase Solutions Inc., is the provider of ComplianceAnalyzer and other premier risk management solutions to the financial services industry. ComplianceAnalyzer, the most advanced and widely used automated mortgage compliance solution, enables lenders to more effectively and efficiently comply with federal, state and municipal lending laws at a fraction of the cost of traditional approaches. ComplianceEase, founded in 2000, is based in San Francisco with offices in Orange County, Manhattan and Redmond, WA. For more information, visit www.ComplianceEase.com.
About Portellus
Headquartered in Irvine, Calif., Portellus Inc. is a leader in the application of Service-Oriented Architecture (SOA) for the mortgage banking and insurance industries. The company’s Decision Management Solution, Business Rules Management System, Mortgage Solutions Framework, and Insurance Rating and Underwriting Engine seamlessly integrate with existing systems to enable clients to gain competitive advantages, reduce costs, mitigate risk, increase profitability and enter new markets. For more information, visit www.portellus.com or call 949-250-9600.
For more information regarding this news release, contact:
Joe Bowerbank of Portellus Inc. +1-949-250-9600, ext. 250, jbowerbank @ portellus.com
Michael Chan of LogicEase Solutions Inc. +1-650-373-1111, ext. 1120, m.chan @ ComplianceEase.com
News issued by: Portellus, Inc.
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Original Story ID: (653) :: 2005-08-0811-001
Original Keywords: Portellus, Service-Oriented Architecture, SOA, ComplianceEase, LogicEase Solutions Inc, Irvine, California, Skip Hulme, ComplianceAnalyzer, rules-based decisioning, Lending Compliance Engine, Loan Origination System, LOS, financial services industry, Manage Mortgage Compliance Portellus, Inc.
NEWS SOURCE: Portellus Inc. | Published: 2005-08-11 12:00:00
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