PathSoftware Now Integrated With ComplianceAnalyzer From ComplianceEase

PathSoftware today announced that Path, its highly-configurable, multi-channel, cloud-based mortgage loan origination software (LOS), is now integrated with ComplianceAnalyzer with TRID Monitor from ComplianceEase, a provider of automated compliance solutions to the financial services industry.

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The seamless integration lets Path users automatically audit loans for regulatory compliance violations using ComplianceAnalyzer with TRID Monitor—without ever leaving the LOS. ComplianceAnalyzer with TRID Monitor is the most comprehensive, real-time TRID auditing solution available in the market. It can check for any changes in terms and fees throughout the origination and closing processes; audit tolerance across all disclosures and changed circumstances; and track post-consummation disclosures, including those with a cure to the borrower. In addition, ComplianceAnalyzer with TRID Monitor performs audits for Federal high cost and higher-priced loan regulations, the Secure and Fair Enforcement for Mortgage Licensing Act, state high cost and anti-predatory regulations, and state license-based consumer lending laws and regulations. It can also perform audits for compliance guidelines from secondary market investors and government-sponsored enterprises.

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Path was designed to simplify and streamline mid- to enterprise-level, multi-channel loan origination. All loan data, lock data, products, pricing, automated underwriting system findings, loan estimate and closing disclosure documents emanate and are reconciled within one system. In addition, the LOS’s configurable workflows, with role-based functionality, provide visibility into every loan at every stage—so financial institutions can ensure their business rules are followed.

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“We developed ComplianceAnalyzer with TRID Monitor to deliver in seconds comprehensive loan-level compliance reports supported by detailed regulatory and cure analyses, exception tracking and reporting,” said Dan Smith, Senior Vice President of ComplianceEase. “Our integration with Path will allow us to help more lenders improve efficiency, as well as give them greater confidence in the loans they’re originating.”

“Having the ability to automatically audit loans at every step in the origination, closing and post-closing process is vital in today’s ever-changing regulatory environment,” said Doug Mitchell, Director of Sales and Support at PathSoftware. “We’re pleased to partner with ComplianceEase to help our financial institution clients improve loan quality, reduce compliance risk, and capture the data needed to prepare for regulatory exams.”

New LOS Continues To Gain Momentum

The LOS space is very competitive. So, what makes for a leading LOS? The most obvious answer is marketshare. If you continue to bring on new clients, that’s a sure sign that you’re doing a good job. In this case, PathSoftware, a new highly structured, cloud-based mortgage loan origination software (LOS) from CalyxSoftware, today announced that Origin Bank, a Louisiana chartered bank with growing mortgage services across its three state footprint, has selected Path as its LOS.

Origin Bank, formerly Community Trust Bank, is more than a century old and provides a wide range of traditional banking services, including conforming and jumbo residential mortgages, through 41 banking centers throughout Louisiana, Mississippi and Texas. It is a wholly owned subsidiary of Origin Bancorp, Inc., a financial holding company with more than $4 billion in assets.

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Origin Bank evaluated ten LOSs over the course of a year before ultimately selecting PathSoftware.

“We were cautious about making an impulsive decision and based our selection on specific criteria,” said James E. Hinton, Executive Vice President, Texas Mortgage Banking Group, Origin Bank. “We were looking for a system that is set up to accommodate what we see as a quickly moving industry evolution towards digital originations and processes, and one that is not stuck in a paradigm of how things have always been done. It was also important to us that the system be written to accommodate multiple origination channels, as opposed to being adapted from an original purpose of serving just one channel. Finally, we were looking for a system that is supported by people who understand and have a commitment to our industry.”

Hinton continued, “Of all the systems that we looked at, Path was the one that best met our criteria. Their core product—Calyx Point—has long been recognized as the gold standard for smaller originators and has adapted to the times. It is our hope and belief that the same commitment will be applied to Path. An added benefit is their support team being located in Dallas.”

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PathSoftware enhances visibility and improves productivity across multiple business channels—wholesale, retail and correspondent. As a portal with a single point of entry, all loan data, lock data, products, pricing, AUS findings, disclosure documents, compliance assurances and closing documents emanate and are reconciled within one system. And as the first completely data-driven, not form-driven, LOS, Path collects all borrower and property information individually and then uses those fields to populate forms, making it easier to adapt to and comply with new regulations.

“Being selected by a discerning lender like Origin Bank speaks volumes to our commitment to providing our clients with the latest, most advanced technology,” said Dennis Boggs, Executive Vice President of Path. “We’re confident Path will improve their workflow, streamline multi-channel loan origination, and keep them ahead of the curve.”