ComplianceEase to Release TPO Manager
ComplianceEase[R], Burlingame, California, has announced the upcoming release of TPO Manager, the company's third-party originator (TPO) management solution.
TPO Manager is designed to allow lenders to automate the approval, verification and monitoring of brokers and correspondent lenders through real-time license verification, criminal background checks, past bankruptcy reports and more, according to ComplianceEase Chief Executive Officer John Vong.
Traditionally, lenders have used entire in-house departments to manually verify and monitor proper licensing of their brokers and correspondent lenders. With the addition of individual loan officer and originator licensing requirements in many states, the process has become even more cumbersome over the past year, explained Vong.
"Instead of manually securing and monitoring verifications, TPO Manager automates this process through real-time license and business-credential verification," said Vong. "It's simple to initiate, and it quickly eliminates the need for manual verification. As a result, the lender can re-allocate valuable resources in other ways to make the businesses much more efficient. …