PALM BAY, FL; April 22, 2013 (BUSINESSWIRE) – ISGN CorporationTM (“ISGN”), a leading provider of end-to-end technology solutions and services to the U.S. mortgage industry, announced today it has partnered with TRUPOINT Partners to offer a comprehensive Consumer Financial Protection Bureau (CFPB) Mock Audit™, ensuring financial institutions and mortgage lenders maintain compliance with the changing regulatory environment, CFPB rules and Fair Lending requirements.
ISGN's Professional Services group, which assesses compliance and operational risk and provides process optimization and cost reduction strategies, has developed a proprietary risk framework to conduct a mock CFPB audit for financial institutions and mortgage lenders. During the audit, ISGN performs a targeted loan review of potential problem loans identified through TRUPOINT Analytics’ Fair Lending and Home Mortgage Disclosure Act (HMDA) analysis systems.
According to Lisa Weaver, CMB, senior vice president of Mortgage Solutions for ISGN, “This approach provides our clients the ability to conduct a ‘dry run’ to bring out any issues prior to the actual regulatory review.”
TRUPOINT Analytics is a Software-as-a-Service (SaaS)-based comparative analysis platform for financial institutions. TRUPOINT’s revolutionary analysis engine provides the data analytics and lending report insight financial institutions need to understand and mitigate Fair Lending and HMDA risks.
“When left unchecked, Fair Lending and HDMA risk can stall growth, undermine acquisition plans, hinder profitability and damage an organization's reputation,” said Trey Sullivan, CEO of TRUPOINT. “The collaboration of TRUPOINT's compliance analytics combined with ISGN’s compliance expertise compounds our ability to offer cost-effective solutions in a difficult area where mistakes can have severe consequences.”
“ISGN is committed to offering innovative technology solutions to assist financial institutions and mortgage lenders in their effort to maintain compliance in today’s complex regulatory environment, and partnering with TRUPOINT to offer a CFPB mock audit further enhances our customer’s compliance capabilities,” said Ritesh Idnani, CEO and vice chairman of ISGN. “Many of our clients find this variable outsourced solution can overcome hurdles in building out capital intense infrastructure."
ISGN is a leading provider of mortgage technology and services. A fast-growing company with more than 1,000 customers, including large global banks and a majority of the top 10 lenders in the country, ISGN’s product line includes a complete range of solutions for lenders and servicers.
ISGN is funded by the highly regarded venture firms New Enterprise Associates (NEA) and IndoUS Venture Partners (IUVP), and by CFCL Overseas Limited, an SPV of Chambal Fertilisers and Chemicals Limited, a KK Birla company. Based in Palm Bay, Fla., ISGN now employs more than 1,500 people across five domestic centers and two international facilities. For more information, visit www.ISGN.com. Contact: Lauren Schuster, 678-781-7209.
About TRUPOINT Partners
TRUPOINT Partners provides regulatory compliance solutions to financial institutions nationwide through an innovative blend of big data analytics, compliance expertise, and client service. TRUPOINT specializes in Fair Lending, HMDA, CRA, and UDAAP compliance, and also offer M&A due diligence, regression analyses, branch network optimization, and more.
TRUPOINT Analytics™ and TRUPOINT RiskCheck™ are cloud-based software tools that enable lenders to assess compliance risk and determine their lending performance for Fair Lending, UDAAP, CRA and other key consumer lending regulations. TRUPOINT Partners combines the efficient use of these tools and expert professional consulting services to provide lenders with uniquely effective and efficient compliance solutions. For more information about the company, its products, and services offered, please visit http://www.trupointpartners.com or contact us today.