Calyx Software Named RegulatorConnect Certified Partner

May 23rd, 2012 by simran Leave a reply »

Calyx Software(R), the preferred mortgage solution provider for banks, credit unions, mortgage bankers and brokers, announced today that they have been awarded RegulatorConnect(R) Certification by ComplianceEase(R), the mortgage industry’s leading automated mortgage compliance solution provider. Point 7.6, released on April 19th, can export data in RegulatorConnect’s Licensee Examination File (LEF) format, which all state-regulated lenders must use under new state Limited Scope Electronic (LSE) Examination procedures.

ComplianceEase developed the LEF format, which the Conference of State Bank Supervisors (CSBS), the American Association of Residential Mortgage Regulators (AARMR), and the Multi-state Mortgage Committee (MMC) have adopted for electronic examinations (e-Exams). The new e-Exams require that lender licensees provide up to 100% of their loan portfolios electronically in the LEF format. If a lender does not already use ComplianceEase’s ComplianceAnalyzer(R) software themselves, the lender must submit loan information by uploading an LEF to the secure RegulatorConnect examination web portal at www.regulatorconnect.org . Examiners then use ComplianceAnalyzer(R) to conduct compliance audits on each loan.

Jason Roth, senior vice president of ComplianceEase, explained, “One of the most important components in the e-Exam process is the technology system that a lender uses to originate loans. As committed partners like Calyx continue to build the necessary export capability into their systems, examinations get quicker and easier for lenders.”

To complete the RegulatorConnect certification process, a technology system provider must demonstrate that its system creates valid LEF exports, follows the complete LEF technical specification, and performs correctly under a variety of loan scenarios. By achieving this level of certification from ComplianceEase, Calyx demonstrates a dedication to helping lender clients save time and money under the new e-Exam process.

“Many of our clients have been asking for Point to create the LEF exports required for submission to RegulatorConnect,” says Jody Collup, director of marketing for Calyx Software. “We are pleased to provide our lenders with the software functionality they need to efficiently automate compliance with federal and state regulations and to provide required regulatory reports. This certification was both timely and necessary, and we’re pleased to have once again met the growing and changing technology demands of our clients.”

Source:http://www.marketwatch.com/story/calyx-software-named-regulatorconnect-certified-partner-2012-05-22

Advertisement

Comments are closed.

Get Adobe Flash player