Allied Home Mortgage Implements Automated Compliance Controls Across Hundreds of Branches

Oct. 27, 2008 - PRLog -- ComplianceEase®, a leading provider of compliance and risk-management solutions, today announced that Allied Home Mortgage Capital Corporation, the largest U.S. privately held mortgage banker / broker, has chosen ComplianceEase’s automated compliance solution to further strengthen its internal controls, streamline continuous adherence to federal and state lending regulations, and enhance its long-term operational risk management strategy.  Allied will leverage ComplianceEase’s one-stop, automated approach to risk management by integrating its loan-level compliance controls into Allied’s branch network across the United States and U.S. Virgin Islands.

“As the mortgage market has changed so dramatically over the last two years, Allied is on the right track to grow in FHA production,” said Jim Hodge, Allied's CEO. “As one of the top FHA originators in the nation, we are taking a proactive approach to safeguard the company, our loan officers and most importantly the borrowers with sophisticated compliance software,” stated Hodge.

ComplianceEase’s flagship product - ComplianceAnalyzer® - is a software-as-a-service on-demand solution that provides a fully featured Web browser-based application as well as seamless integration into Allied’s proprietary system – Loan Easy’s workflow.  In addition to dramatically reducing the cost of compliance with the ever changing federal, state, and municipal high-cost legislation and state consumer credit regulations, ComplianceAnalyzer also significantly improves Allied’s ability to quantify and mitigate areas of regulatory risk.

"After a thorough review of ComplianceAnalyzer, we chose ComplianceEase based on its ability to reduce the time, resources, and costs associated with regulatory compliance management in our branch network,” said Tony Musgrave, executive vice president and general counsel of Allied. “ComplianceAnalyzer allows us to prepare ourselves for state regulatory examinations, as many state agencies have adopted their system this year. Their straightforward integration, ease-of-use, and substantial customer base all contributed to its selection as the clear choice for managing our long-term strategic compliance requirements,” added Tony.

Allied Home Mortgage selected ComplianceEase after performing extensive due-diligence on available systems, which included the evaluation of those systems’ core technology, accuracy, and comprehensiveness. ComplianceEase’s emphasis on precise automation of complex compliance procedures, as well as its facilities for powerful, enterprise-wide management reporting, support Allied’s commitment to exceptional quality and customer service.  

“Both Allied and ComplianceEase recognize the growing importance of employing innovative technology and business domain expertise to solve key challenges within the mortgage industry,” Dan Smith, vice president of ComplianceEase stated, “We are particularly energized to work with Allied because we understand and strongly support their vision of automating the process and of producing high-quality loans for their secondary market investors. As origination costs rise in the coming year, we feel that automation, particularly in the area of risk-management, will play a critical role in positively contributing to the mortgage industry’s bottom line.  Our technology will provide Allied with a key competitive advantage, enabling them to further expand their ever expanding franchise.”

About Allied Home Mortgage Capital
Founded in 1991, Allied Home Mortgage Capital Corporation is the largest privately held mortgage banker/broker in the U.S., with hundreds of offices operating in 50 states and the United States Virgin Islands. Allied’s established relationships with national, regional and local lenders, allows it to deliver a wide range of loan products to its customers. With the experience of originating over $15 billion in loans in one year and as many as 12,000 loans in one month, Allied Home Mortgage Capital Corporation has the experience, background and strength of a major force in lending nationwide. Allied was named one of the Top 25 Tech-Savvy Mortgage Companies by Broker magazine for 4 years in a row. For more information about Allied Home Mortgage Capital, visit www.alliedmtgcapital.com.

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About ComplianceEase®
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a premier provider of intelligent business solutions to the financial services industry. ComplianceEase's web-based platform - ComplianceAnalyzer - is the mortgage industry's leading automated compliance solution. The ComplianceEase expert system utilizes advanced technologies to power beginning-to-end solutions in a fraction of the time and for a fraction of the cost of traditional approaches, while providing high levels of accuracy and integrity. ComplianceEase's significant and growing client base includes top tier mortgage lenders, banks, and Wall Street firms. Managed by a team of highly experienced and innovative mortgage professionals, the company is funded by the First American Corporation, the WI Harper Group, and the senior management team. For more information about ComplianceEase, visit www.ComplianceEase.com.