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It has become critically important in recent years for the mortgage industry to increase transparency in compliance, risk management, and performance. The needs in this area span the entire loan lifecycle, from lenders and investors to servicers, securitizers, and regulators. To meet the industry’s need for monitoring of compliance with federal and state consumer credit laws and regulations, ComplianceEase is releasing a new interactive analytics platform that allows clients to analyze regulatory compliance risk throughout the enterprise.
The PerformanceAnalyzer platform empowers financial institution stakeholders with real-time visualization of compliance and lending patterns, including multiple layers of insights into existing and potential problem areas. For example, one layer uses ComplianceEase’s standardized RiskIndicator score to divide loans into different risk segments. The platform illustrates compliance trends in graphical form with colors that correspond to the risk level.
“ComplianceEase is the first automated compliance provider to develop this kind of interactive analytics platform and we’re very excited about what it means for our clients,” Jason Roth, co-founder and senior vice president at ComplianceEase, said. “This solution is a data innovation that clients can use to further reduce risk by broadening their compliance oversight from loan-by-loan to pipeline and portfolio.”
“This exciting data analytics platform allows you to manage enterprise compliance risk with a 360-degree view,” said John Vong, co-founder and president of ComplianceEase. “You can analyze trending defects and mitigate risk with dynamic, interactive graphical and tabular analytics. Big data can provide a cautionary tale of potential risk before it becomes a real problem.”
In addition, PerformanceAnalyzer offers robust search and filtering functions across an organization’s portfolio, including options by vintage and by region for users to drill down to loan-level details. Each report within PerformanceAnalyzer contains flexible analysis features that enable users to create their personal view of lending in their organization.
“It’s more important than ever for management in the consumer lending industry to be looking at the right data. Our clients can quickly design and retrieve reports that present information in the way they need to see it, without having to work with other departments to develop and deploy reports,” Roth said.
To facilitate institutional risk monitoring, interactive mapping functionality, including heat maps and loan density maps, illustrate where loans are concentrated, including the geographical source of the highest-risk loans.
“Because of the platform’s ability to compare loan performance over time, PerformanceAnalyzer also makes it easier for users to spot trends,” Roth said. “The trending report serves as an overview of historical compliance performance and can guide users to the true cause and originating source of issues.”
Vong agreed, “With PerformanceAnalyzer, enterprise compliance intelligence truly is at your fingertips.”
For more information about PerformanceAnalyzer, please visit ComplianceEase.com.