HIPAA News

ComplianceEase Awarded Patent on Automated Compliance System

(August 01, 2008)-- LogicEase Solutions, provider of the mortgage industry's leading suite of risk management solutions - ComplianceEase, announced that the United States Patent and Trademark Office (USPTO) issued U.S. Patent No. 7,386,505 to LogicEase on June 10, 2008, following the Notice of Allowance provided on November 23, 2007. This patent is the first of its kind issued with respect to an automated compliance solution for the mortgage industry.

Patent No. 7,386,505, entitled "System and Method for Automated Compliance with Loan Legislation", covers ComplianceEase's Automated Compliance System - ComplianceAnalyzer. This expert system examines mortgage loans and, in real-time, produces loan level reports and analytics with respect to applicable laws and regulations at multiple jurisdictional levels. The awarding of the patent further validates ComplianceEase's innovation in the regulatory compliance space and recognizes it as the pioneer of this important technology - a web-based system that includes the use of rules-based artificial intelligence, an intuitive mapping of business concepts on the loan to concepts within the rules, and a natural language processor to manage all of the compliance rules in plain English sentences.

"At ComplianceEase we have pioneered the field of automated lending compliance and I am very pleased that the USPTO has recognized the novel innovations that we have developed," said Jason Roth, senior vice president and named inventor on the patent. "This important milestone helps us give the residential mortgage industry confidence that we will continue to be the leading compliance automation provider for years to come."
In today's increasingly volatile market environment, regulatory compliance is becoming one of the most significant risk-management issues for financial institutions of all sizes. Over 250 financial institutions, service providers, and regulators rely on ComplianceAnalyzer in their day-to-day operations; this patent strengthens the foundation for our work with our expert system that the mortgage industry embraces.

For more information about ComplianceEase, please visit www.ComplianceEase.com.

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