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PCi Announces New Functionality to Validate a Broker's License to Lend with New Module for Wiz Sentinel.


BOSTON -- Wiz Sentinel Broker Database Automatically Checks Broker License Status with Every Mortgage for All States

PCi Corporation, a part of Wolters Kluwer Wolters Kluwer N.V. (Euronext: WKL) is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors.  Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject.
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, today announced Wiz Sentinel Broker Database, a new module that extends the existing Wiz Sentinel functionality. With Wiz Sentinel Broker Database, lenders can validate a broker's license to originate loans. The module uses the same technology platform and will have the same general implementation and support model as Wiz Sentinel.

Lenders must ensure that the brokers they work with are allowed to lend in the state where they are originating the loan. Because many brokers are licensed to lend in multiple states, it is challenging for the lender to verify the broker they are working with is actively licensed. Wiz Sentinel Broker Database automatically validates the status of a broker license for every mortgage with any of the state regulating agencies through a central database.

The Wiz Sentinel Broker Database makes the broker license process more efficient and cost effective. Specifically, the module:

--Automatically validates broker license ID or name against selected state(s)

--Returns state agency contact information if no broker match is found so that the lender can easily follow up with the regulator for more information

--Provides a centralized cen·tral·ize  
v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es

v.tr.
1. To draw into or toward a center; consolidate.

2.
 database for broker license information from all state agencies that is updated daily

--Enables lenders the flexibility of validating a license through direct xml request or manual look up through the web interface

In addition to validating broker licenses at time of origination, the broker database also enables lenders to search the Broker Database based on license number, broker name, and state and returns this information as well as license status, doing business as (DBA), address, and phone number.

"Most state agencies provide a link on their website to manually look up this information," said Raffi Festekjian, president and chief executive officer of PCi. "Many lenders find it challenging to maintain information on where to find this data for each state and time consuming to look up the same brokers on each website. The Wiz Sentinel Broker Database creates a portal where lenders can access broker license information for multiple states using a single search request, making the entire process much more efficient."

About PCi Corporation

PCi Corporation, a part of Wolters Kluwer Financial Services, is the industry's choice for institutions seeking to keep lending in compliance with both regulatory and internal business standards. Over 2,000 institutions, including 95 of the top 100 lenders and many industry regulators, rely on PCi's software and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products.  to monitor, detect, analyze and resolve compliance demands throughout the entire lending process. Compliance expertise, acquired during more than 10 years of operating success, positions PCi to help lenders produce loans that minimize risk, identify lending opportunities, add value to portfolios and serve the needs of their communities. PCi is based in Boston, Mass. To learn more about PCi, visit www.pciwiz.com.

Wolters Kluwer is a leading multinational publisher and information services See Information Systems.  company. The company's core markets are health, corporate services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. , financial services, tax, accounting, legal, regulation, and education. Wolters Kluwer has annual revenues (2005) of EUR EUR

In currencies, this is the abbreviation for the Euro.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
 3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere.  and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL WKL Wirtualna Kawiarenka Lubin ) and are included in the AEX AEX

See: Amsterdam Exchange
 and Euronext 100 indices. For more information, see www.wolterskluwer.com.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:May 9, 2006
Words:577
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