The integration with ComplianceAnalyzer allows PFS to automatically audit mortgage loans for regulatory compliance with all federal, state and municipal regulations, including TRID and QM, as well as federal and state high-cost and anti-predatory lending violations. The solution also audits for compliance guidelines set by the secondary market and government-sponsored enterprises.
Both PFS’ mortgage fulfillment services and ComplianceAnalyzer are endorsed solutions by the American Bankers Association.
“Compliance is a top agenda item in every discussion we have with clients and prospects,” said Ken Janik, managing director, business head of Promontory Fulfillment Services. “Regulated institutions often express concern about potential compliance issues and reputational risk. We have built an exceptional internal compliance team, led by Colgate Selden, our head of regulation and compliance. We’ve now also integrated with the industry’s leading automated compliance software, ComplianceAnalyzer. This industry-leading combination of talent, a proven process, and an outstanding partner ensures PFS consistently delivers a fully-compliant loan journey.”
“Our solutions are widely used by leading bank and non-bank originators, as well as by the federal and state regulators who examine them,” said John Vong, CMB®, CMT, executive chairman of ComplianceEase. “They are designed to take time and cost out of the origination process by eliminating the ‘stare-and-compare’ manual reviews, so they align well with PFS’ business model and value proposition.”