ComplianceEase Introduces Industry's First Insured Compliance Certificate; The Ultimate Protection Against Predatory Lending.Business Editors/Legal Writers/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--April 12, 2004 ComplianceEase, a division of LogicEase Solutions Inc. (ComplianceEase(R)), announced today that it is introducing PredatorAnalyzer (PA) AssureCert(TM), a complete risk management solution that enables mortgage originators to comply with high-cost and anti-predatory lending legislation and protect against costly violations. ComplianceEase has combined its flagship PA product with a comprehensive insurance policy to mitigate the risk of loss associated with the potentially uncapped liability faced by lenders and secondary market investors. "PA AssureCert, the industry's first fully-warranted automated compliance solution provides detection and prevention of violations, as well as indemnity against potential legal consequences of non-compliance with federal, state and local high-cost and anti-predatory lending regulations. Comprehensive coverage together with the industry's premier anti-predatory compliance solution will complement lenders' risk management strategies," said David Girling, executive vice president. "This revolutionary product was designed in direct response to the industry's demand for compliance systems that provide greater accuracy and better protection. PA AssureCert allows lenders and investors to rely on the accuracy and protection of the ComplianceEase automated solutions while further mitigating potential risk," added Girling. PA AssureCert warrants the accuracy of the PA findings establishing a faster, more efficient, more effective, and less expensive alternative to the traditional manual due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. process. In the event of a loss due to a compliance error, PA AssureCert provides true protection backed by an A.M. Best rated A++ insurer. PA AssureCert covers losses due to fines, penalties, judgments, and even secondary market transaction losses due to compliance defects. PA AssureCert provides no per claim deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). , and provides for a simple claim procedure. "This cost effective solution is available for loan-level protection of up to $300,000 with a coverage period of five years. Other coverage criteria includes: first or subordinate lien lien, claim or charge held by one party, on property owned by a second party, as security for payment of some debt, obligation, or duty owed by that second party. positions; open- or closed-end credit; conventional or government loan programs; any property types up to 4 units; no restriction on loan-to-value or combined loan-to-value ratio Loan-to-value ratio (LTV) The ratio of money borrowed on a property to the property's fair market value. ; no credit score or credit grade restriction; and the PA AssureCert is fully transferable from lenders to secondary market investors. It is also fully customizable to meet specific requirements for structured finance transactions in the capital markets," said Jason Roth, vice president of product development. About ComplianceEase(R) ComplianceEase, a division of LogicEase Solutions Inc., headquartered in 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 , Calif., 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. 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 Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . For more information on ComplianceEase, visit www.ComplianceEase.com. |
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