ComplianceEase Signs Service Contract with Nexstar Financial; Nexstar acquired the newest innovation in compliance technology to redefine home financing.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--March 8, 2004 ComplianceEase, a division of LogicEase Solutions Inc. (ComplianceEase(R)), announced today that it has signed a services agreement with Nexstar Financial Corporation(SM) (Nexstar), a residential mortgage outsourcing company that provides highly flexible, private-label mortgage solutions to the nation's leading financial institutions. Nexstar conducted extensive 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. before selecting ComplianceEase's Automated Compliance Solutions. "ComplianceEase has developed many of its innovative applications to provide a beginning-to-end solution that strengthens our ability to meet current and ongoing compliance requirements Compliance requirements are a series of directives established by United States Federal government agencies that summarize hundreds of Federal laws and regulations applicable to Federal assistance (also known as Federal aid or Federal funds). imposed by federal and state regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities . The advanced rules-based decisioning solution differentiates ComplianceEase from other offerings in the marketplace," Jerry Halbrook, Nexstar's co-founder and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. explained. Halbrook added, "The robust 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 of the products gives Nexstar the confidence to tackle new compliance challenges associated with high-cost and predatory lending laws while integrating and leveraging existing information systems. Therein lies the real value of ComplianceEase solutions: Nexstar can keep pace with the ever-changing regulatory environment and, at the same time, integrate those changes into our existing systems. Integrating throughout the enterprise is essential not only for Nexstar, but also for our clients who are lenders. In today's tighter regulatory compliance climate, lenders must be proactive in setting best practices standards to protect borrowers' interests. Nexstar's platform is based on providing highly flexible mortgage solutions that can be customized to fit each client's specific business requirements. ComplianceEase's automated compliance system can easily incorporate the varied policies of our clients, as well as our own policies. " "Nexstar has built its business around enhancing the mortgage process to meet the needs of both borrowers and clients," says David Girling, executive vice president of ComplianceEase. "We are very pleased to be able to provide the strength of the ComplianceEase software solutions to enhance the operational risk management for Nexstar - further improving the convenience and integrity of the lending process. Use of the ComplianceEase solutions will also inevitably enhance asset quality in the secondary market." About Nexstar Financial Corporation Nexstar Financial Corporation headquartered in St. Louis, MO, provides highly flexible, private-label mortgage outsourcing solutions to the nation's leading financial institutions through its Powered by Nexstar(R) (PBN PBN Paint By Number PBN Procurement Business Number PBN Pyrolytic Boron Nitride PBN Policy-Based Networking PBN Performance-Based Navigation PBN Progressive Bengali Network PBN Paintball Nation PBN Permanent Background Notices ) program. Nexstar leverages its award-winning lending platform to customize programs that meet each client's specific needs. Managed by a team of mortgage industry visionaries, the company is funded by Kohlberg Kravis Roberts Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. It was founded in 1976 by Jerome Kohlberg, Jr., and cousins Henry Kravis and George R. & Co. (KKR KKR Korringa-Kohn-Rostoker (method) KKR Kohlberg, Kravis & Roberts & Co. KKR Kalkara (postal locality, Malta) KKR Kramers-Kronig Relations KKR Komarappa Gounder Ramalingam (hospital in India) ) and members of the Nexstar senior management team. In recognition of the exceptional flexibility of the PBN program and its management team's depth of industry expertise, Nexstar was named one of "10 Companies to Watch" by National Mortgage News. Nexstar is also a past recipient of the Inman News award for Most Innovative Use of Technology in Lending. 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 , CA, is the 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 Web-based platform provides the industry's first automated compliance solution utilizing advanced artificial intelligence reasoning and decisioning technologies as well as natural language processing. ComplianceEase powers beginning-to-end solutions at a fraction of the time and cost of 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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