Cogent Road and ComplianceEase Team Up to Help Lenders in Anti-Predatory Lending Compliance; New automated compliance tools developed to help mortgage lenders.Business Editors/High-Tech Writers SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden & SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BUSINESS WIRE)--Oct. 6, 2003 Cogent COGENT - COmpiler and GENeralized Translator Road, Inc. (Cogent Road) and ComplianceEase(R), a division of LogicEase Solutions Inc. (ComplianceEase) today announced the launch of a new service for Cogent Road to provide automated compliance solutions. Cogent Road customers will be offered a new product -- PCAudit(TM), an anti-predatory lending and regulatory compliance auditing technology for individual loans and bulk portfolios. PCAudit, as part of the Cogent Road e-Business solution, is a fully automated pre & post close risk management solution that audits individual loans or bulk portfolios against a variety of quality criteria. Cogent Road's technology connects lenders to their numerous third party sources to provide systematic audit control on every wholesale origination -- before making a purchase. "Since 1992 we've worked very closely with all aspects of the mortgage loan supply chain, from its originators to the investors. We are teaming up with ComplianceEase to answer a growing business challenge from the industry," said Alan Baia, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cogent Road. "Leading lenders agree there is a strong need for the information and automated tools. Cogent Road's new service will help lenders solve the mystery for business people who are not experts on regulatory compliance," Baia commented. "One of the most important challenges for lenders today is to understand the anti-predatory lending and numerous other regulatory compliance initiatives like the USA PATRIOT Act USA PATRIOT Act [Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorists], 2001, U.S. and to understand the way in which they will impact their business," said David Girling, executive vice president of ComplianceEase. "The services provided by Cogent Road and powered by ComplianceEase will offer an informative and interactive set of tools that provide lenders and secondary market investors with comprehensive information and analytic audit results they can use to improve their risk management," noted Girling. About Cogent Road Cogent Road, Inc., headquartered in San Diego, CA, offers e-business solutions for the mortgage banking industry. The Company connects secondary market investors to their mortgage loan originators in ways that ensure loan data purchased during the underwriting process is not repurchased simply to solve integration or integrity issues. Cogent Road solutions also protect banks from loss by identifying potential errors in collateral valuation and loan regulation compliance. Cogent Road products include: Funding Suite(TM); Funding Suite LE; AVSpectrum(TM); CVAudit(TM). For more on Cogent Road, please visit www.cogentroad.com. About ComplianceEase(R) ComplianceEase, a division of LogicEase Solutions Inc., headquartered in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] , is a leading 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. Its ComplianceEase platform provides the industry's first automated compliance solutions utilizing advanced artificial intelligence 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 . ComplianceEase powers beginning-to-end solutions at a fraction of the time and cost of the traditional approaches, while providing better accuracy and integrity. ComplianceEase also provides professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. , and consulting services. For more information on ComplianceEase, visit www.ComplianceEase.com. |
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