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ComplianceEase Unveils Industry Pre-Exam™Portal
Free Industry Service Will Help All Lenders Prepare for Federal and State e-Exams

Burlingame, Calif. - October 24, 2019 - ComplianceEase®, announced today that beginning this January, in cooperation with the Multistate Mortgage Committee (MMC), it will offer a complementary Pre-Exam Portal "sandbox" to assist all residential mortgage lenders during their preparation for electronic examinations (e-Exams).

The Pre-Exam Portal is a public service available to any lender and is intended to improve lenders' experience during the preparation for state and federal e-Exams by giving them an opportunity to test the accuracy of the data they are submitting to regulators and previewing audit results

Once enrolled in the portal, lenders will be able to submit up to one hundred LEF™(Lending Examination Format) files for validation of proper formatting and evaluation against federal, state and local consumer protection compliance criteria.

The Pre-Exam Portal will return complete ComplianceAnalyzer® audit reports, similar to those the examiner in charge (EIC) will eventually receive. These reports will enable lenders to identify data integrity, mapping and translation issues, as well as view compliance findings before submitting the LEF files for the "live" e-Exam through RegulatorConnect®, the regulators' e-Exam platform. This preparation process provides transparency to lenders being examined and allows them to verify that their LEF files accurately represent the loan data contained in their system of record. Neither the LEF data submitted to the Pre-Exam Portal, nor the resulting Pre-Exam audit reports, will be accessible to regulators.

Earlier this month, the Conference of State Bank Supervisors (CSBS) and American Association of Residential Mortgage Regulators (AARMR) jointly called upon the industry to integrate state-development standards with mortgage loan origination systems (LOS) to accelerate the e-Exam process. At that time, Jeremy Windham, Vice Chair of Multistate Mortgage Committee at CSBS and AARMR, said, "Developing processes for clean data transfers will streamline the e-Exam process mandated by the MMC, benefitting industry and regulators alike."

"The Pre-Exam Portal is an important first step in the process of getting lenders comfortable with e-Exams, and we're pleased to be able to offer it as a public service to the industry," said John Vong, CMB®, CMT, Executive Chairman of ComplianceEase. "This is the first of a series of initiatives that we will be announcing to further improve lenders' confidence and experience during the e-Exam process."

For more information on the Pre-Exam Portal, please contact PreExam@ComplianceEase.com

About ComplianceEase

Headquartered in the Silicon Valley, ComplianceEase®, a division of LogicEase Solutions Inc., is a leading provider of risk management solutions to the financial services industry. ComplianceEase's patented platform includes ComplianceAnalyzer®, the mortgage industry's most adopted automated compliance solution with the most comprehensive TRID auditing. ComplianceEase combines regulatory expertise with innovative technology to power end-to-end risk management solutions that help financial institutions improve compliance controls and increase profitability. The company's growing client base includes financial institutions, service providers, law firms, GSEs, and three of the top five mortgage lenders in the U.S. ComplianceEase's automated compliance solutions have also been adopted as e-Exam tools by federal and state banking and mortgage regulators. For more information, visit ComplianceEase.com or call 1.866.212.3273, or visit them on LinkedIn.

Press Contact

Bill Campbell
Campbell Lewis Communications
212.995.8057
bill@campbelllewis.com

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