Byte Software and ComplianceEase(R) Announce Strategic Partnership; Interface Between LOS Provider and Automated Compliance Solution Provider Offers Effective Protection to Users.KIRKLAND, Wash. -- Byte (BinarY TablE) The common unit of computer storage from desktop computer to mainframe. It is made up of eight binary digits (bits). A ninth bit may be used in the memory circuits as a parity bit for error checking. Software, a leading provider of loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. software (LOS) and ComplianceEase, an industry-leading provider of automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. compliance and risk management solutions, announced a strategic alliance. This partnership will enable Byte Software customers to determine if their loans comply with federal, state and municipal level regulations, including anti-predatory/high-cost lending statutes and consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. regulation based on state lending licenses. The partnership will also give Byte Software customers peace of mind about their loans before they are closed. "We were impressed with the comprehensive reports ComplianceEase offered as well as the detailed information they provide our users," said Joe Herb, general manager for Byte Software. "This partnership gives our clients dynamic compliance auditing capabilities that can be used during their quality control review process. Additionally, it completely aligns with our commitment to give BytePro users a single point from which they can obtain all the information they need, from credit to compliance, to close loans more efficiently and faster." Designed as an on-demand service, at the click of a mouse, BytePro users will directly access ComplianceEase's ComplianceAnalyzer(R), the mortgage industry's standard for automated compliance. ComplianceAnalyzer is powered by the company's decisioning engine - CriticalDecision(SM) platform, and the system accurately and efficiently reviews loans for a wide variety of multi-jurisdictional compliance ranging from Section 32 of Reg Z - the Home Ownership Protection and Equity Act (HOEPA HOEPA Home Ownership and Equity Protection Act ) to state and municipal high-cost / anti-predatory legislation. The automated compliance solution also incorporates lender and investor requirements within the compliance audit. ComplianceAnalyzer serves the industry as a cost-effective solution using state-of-the-art technology to exponentially ex·po·nen·tial adj. 1. Of or relating to an exponent. 2. Mathematics a. Containing, involving, or expressed as an exponent. b. strengthen the efficiency, accuracy, and objectiveness of compliance audits. "The increasing complexity of regulatory compliance is resulting in tremendous growth for industry-wide acceptance of automated compliance," said David Girling, ComplianceEase's executive vice president. "Our strategic alliance and seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. with Byte Software will provide their users with a valuable regulatory compliance solution to reduce closing time and offer detailed compliance audit information in seconds." BytePro users will have the satisfaction of knowing that their loans have been reviewed for 100 percent compliance. The pre-funding compliance check will also make loans more attractive to investors. Girling continued, "Integrating our dynamic automated compliance solution with Byte Software's BytePro empowers clients to streamline their internal business process and enhance their loan quality. Regulatory compliance is rapidly emerging as a critical piece of the mortgage process as volumes decrease and investors are becoming increasingly stricter with their requirements." BytePro gives users a competitive advantage through its access to third-party providers, such as ComplianceEase, which improves users' productivity and efficiency. About ComplianceEase ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , is a premier provider of intelligent business solutions to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. ComplianceEase's web-based platform - ComplianceAnalyzer - is the mortgage industry's leading automated compliance solution. The ComplianceEase expert system utilizes advanced reasoning and decisioning technologies as well as natural language processing Natural language processing Computer analysis and generation of natural language text. The goal is to enable natural languages, such as English, French, or Japanese, to serve either as the medium through which users interact with computer systems such as to power beginning-to-end solutions in a fraction of the time and for a fraction of the cost of traditional approaches, while providing high levels of accuracy and integrity. ComplianceEase's significant and growing client base includes top tier mortgage lenders, banks, and Wall Street firms. Managed by a team of highly experienced and innovative mortgage professionals, the company is funded by the First American Corporation
Officially referred to as The First American Corporation (FAC) , , the WI Harper Group, and the senior management team. For more information about ComplianceEase, visit www.ComplianceEase.com. About Byte Software Byte Software is a leading provider of loan origination software to brokers, banks and credit unions. The BytePro solution streamlines all the processes used by originators and processors, allowing them to close more loans in less time with fewer mistakes. Byte Software is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CBCInnovis, a leading provider of real estate settlement services. To learn more about Byte Software, visit www.bytesoftware.com or call 800.695.1008. |
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