First American has added a compliance element to its document management system, integrating ComplianceEase’s ComplianceAnalyzer with its Document Management System, the company said Thursday.
First American Nationwide Documents, a member of The First American Corp. family of companies, and ComplianceEase, a division of LogicEase Solutions Inc., announced a strategic alliance to integrate ComplianceEase’s ComplianceAnalyzer with First American’s Document Management System.
First American’s product, which automates document production, management functions and workflow tasks, has been integrated with ComplianceAnalyzer, an Internet-based technology that automates regulatory compliance processes, especially in the areas of federal, state and local high-cost and anti-predatory-lending regulations.
“Integrating ComplianceAnalyzer into the First American platform will strengthen the compliance value to the loan-cycle workflow, allowing customers simple, one-click access to comprehensive regulatory compliance reviews,” said Dan Solomon, director of client services for First American Nationwide Documents.
First American Nationwide Documents provides a centralized and paperless value chain portal with collaborative knowledge and real-time participation in all loan activities.
Combining this closing system with ComplianceAnalyzer will enable First American customers to automatically identify instances of noncompliance and explain them in narrative findings reports. The system renders real-time decisions and automatically calculates a color-coded RiskIndicator, signaling the level of risk of noncompliance.
“In today’s ever-changing regulatory environment, lenders are faced with new compliance challenges on a daily basis,” said David Girling, executive vice president of ComplianceEase.
“First American recognizes these challenges and has brought together their core competency of providing document solutions with our specialized risk management solutions in order to help clients eliminate costly errors, improve loan quality and, most importantly, prevent salability issues in the secondary market.”
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