Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of end-to-end loan origination software and services for financial organizations, announced that it has implemented EarlyCheck, a web-based interface, in its NetOxygen loan origination system (LOS) to remain in full compliance with Fannie Mae’s Loan Quality Initiative (LQI) mandates.

EarlyCheck enables users to identify and correct potential eligibility and data issues as early as possible - prior to loan delivery, which greatly lessens the number of loans that are returned from Fannie Mae on account of incorrect information. The interface can be used for loans underwritten with any method (Desktop Underwriter (DU), manual, etc.), and there is no usage fee associated with the checks as part of the initial release.

Once a user enters a loan application and submits the application to DU, the user can run the EarlyCheck interface on the loan. EarlyCheck produces a report detailing any inconsistencies between the information submitted to DU and existing information. Errors that keep a loan application from passing through Fannie Mae are marked as a fatal error for the loan application in the report. The user can correct the error before submitting the loan to Fannie Mae, thereby streamlining servicing and saving time.

Some of EarlyCheck’s features include the following:

	Less manual error resolution;
	Fewer delivery stops, resulting in less financial and operational impact;
	Reduced funding delays resulting from delivery issues;
	Enables lenders to check the EarlyCheck service at any time in the process prior to loan delivery;
	Provides real-time, loan-level results in a user-friendly report or file;
	Provides a summary of issues and a detailed message for each issue; and
	Checks things like SSN (Social Security Number), occupancy, address, LTV, monthly debt expense, loan limit and required delivery fields.

“NetOxygen’s seamless integration with EarlyCheck enables our users to proactively identify and correct any potential hiccups that could hold up the loan delivery process,” said Narayan Bharadwaj, business head for WGS. “This greatly saves time and eliminates unnecessary frustration for lenders interested in closing more loans.”

Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination technology and services for financial organizations, announced it has entered into a strategic partnership with San Francisco-based ComplianceEase, an automated compliance and risk-management provider to the financial services industry. The partnership creates a seamless integration of mortgage lending compliance audits from ComplianceEase into the WGS fully automated loan origination system (LOS), NetOxygen.

The partnership enables customers to take advantage of NetOxygen’s robust functionality for lead management and workflow management while relying on ComplianceEase’s ComplianceAnalyzer® for real-time compliance audits that immediately identify loans with potential compliance issues and allow users to review detailed analysis and explanations of failures. This partnership saves NetOxygen users time and helps them to reduce risk by enabling seamless predatory lending and license-based consumer credit compliance checks at any point in the lending process without the need to rely on manual processes that can be prone to human error.

“Our alliance with ComplianceEase gives our users the assurance of keeping up with the ever-changing federal- and state-specific regulations,” said Anil Raibagi, general manager and business head at WGS.

WGS’ strategic approach also works to increase production efficiency, applies solid governance, uses solid communication and defines metrics and service levels. WGS offers mortgage lenders a flexible and experienced staffing platform backed by hosted technology at a competitive price. Its partnership approach with its clients empowers them to focus on their core business of generating revenue while WGS manages the back-office process in a secure and quality driven platform.

“Integrating NetOxygen and ComplianceAnalyzer creates a best-of-breed product, which enhances the functionalities of both products and brings more value to our own customers,” said Jason Roth, senior vice president at ComplianceEase.

WGS’ Web-based NetOxygen system is fully automated and guides lenders through every step of the lending process. NetOxygen enables lenders to take advantage of a streamlined service to enter, monitor and maintain loans through a scalable platform hosted by WGS or set up at a location of choice. ComplianceAnalyzer provides hosted, enterprise mortgage compliance audits that run at multiple points in the mortgage process for comprehensive yet cost-effective compliance risk management.

In addition, mortgage regulators across the United States use ComplianceAnalyzer to examine the lending operations of state-regulated lenders. This partnership allows NetOxygen clients to perform the same seamless predatory lending and consumer credit compliance checks as regulators, at any point in the lending process.

About ComplianceEase®
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a provider of intelligent business solutions to the financial services industry. ComplianceEase's significant and growing client base includes three of the top five mortgage lenders in the nation financial institutions, service providers, law firms and regulators. Managed by a team of highly experienced and innovative mortgage professionals, the company is funded by the CoreLogic Inc., the WI Harper Group, and the senior management team. For more information visit www.ComplianceEase.com

Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination technology and fulfillment services for mortgage lenders, has combined its fully hosted and managed origination system, NetOxygen, with the award-winning loan processing services from Wipro into a complete end-to-end loan fulfillment and servicing platform. This new business line enables lenders to focus their efforts on generating revenue while using WGS to perform the loan fulfillment, loan sub-servicing and vendor management tasks.

WGS’ new offering was designed to be a part of a long-term strategic solution for mortgage lenders as opposed to a temporary way to cut costs. Among other benefits, the outsourcing platform:

	reduces operational costs
	increases speed to market
	improves customer service and the ability to quickly adjust for production peaks

“Flexibility is the key component of the WGS solution; our customers are able to utilize WGS for complete end-to-end fulfillment or for specific functions within the loan process,” said Anil Raibagi, general manager and business head at WGS. “This new platform also provides our services on a variable pricing structure, enabling clients to gain the maximum skill sets.” Key features of the loan servicing and fulfillment platform include:

	The reduction of costs experienced is approximately 30 percent or more over the existing infrastructure.
	The WGS operational environment is designed on a per-file basis as opposed to a fixed-cost structure; this allows lenders to reduce unused capacity to zero and the average lender’s cost per loan remains constant regardless of fluctuations in the number of loan files within a given month.
	An immediate improvement in production efficiency is through the expanded hours of staff availability either through a staggered or an overnight staffing model. By adjusting the availability of employees both domestically and globally, loan delivery times can be drastically reduced while increasing service levels with minimal or no cost increase to a lender.

WGS’ strategic approach also works to increase production efficiency, applies solid governance, uses solid communication and defines metrics and service levels. WGS offers mortgage lenders a flexible and experienced staffing platform backed by hosted technology at a competitive price. Its partnership approach with its clients empowers them to focus on their core business of generating revenue while WGS manages the back-office process in a secure and quality driven platform.

Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination software and services for financial organizations, announced that it has updated its NetOxygen SaaS loan origination system (LOS) to remain in full compliance with the latest industry regulations.

The LOS has been upgraded to fully comply with the latest regulations, including HUD’s Real Estate Settlement Procedures Act (RESPA), Upfront Mortgage Insurance Premium (UFMIP) for FHA loans, Regulation Z changes for higher priced loans and the Federal Reserve Board’s Mortgage Disclosure Improvement ACT (MDIA).

In addition, WGS incorporates new ready-to-use workflow management features for retail and broker lending channels. These are in addition to workflow tools already in place to support the entire origination lifecycle. Furthermore, new interfaces to Fannie Mae’s Desktop Originator and to Interthinx’s FraudGUARD were integrated.

WGS also made updates to its loan modification application available through the NetOxygen platform, which guides lenders through every step of the Home Affordable Modification Program’s (HAMP) loan modification process including pre-qualification, initial borrower contact, eligibility, underwriting, the trial period and the official modification. The loan modification application now includes portfolio analytics, automated waterfall and NPV calculations and extensive pipeline management and workflow management.

“We developed many of NetOxygen’s new features as part of our response to lenders’ requests for an LOS that further boosts efficiencies in order to maximize profitability,” said Anil Raibagi, business head for WGS. “We constantly look to improve our functionality to simplify the loan origination process for users.”

NetOxygen incorporates a multi-tenant platform where the company’s solutions can run on a single server, serving multiple customers while keeping proprietary data separate. This offers significant cost savings to users and enables each customer to work with a customized virtual application instance while ensuring each customer’s loan data is isolated and protected from other users.

IDAHO FALLS, IDAHO, Dec. 8, 2009 – DocuTech, a provider of mortgage compliance services and documentation technology, has partnered with Wipro Gallagher Solutions (WGS), a provider of loan origination software and origination services to the lending industry, to provide complete mortgage document compliance services in WGS’s suite of loan origination systems (LOS), including NetOxygen. The integration enables lenders to easily generate compliant documents and disclosures from any Web connection

NetOxygen is a web-based LOS that enables lenders to take advantage of a streamlined service to enter, monitor and maintain loans through a scalable platform hosted by WGS. The integration with DocuTech’s ConformX allows for the streamlined deployment of an end-to end, enterprise wide LOS at a reduced cost to a traditional implementation. This integration also provides users with internal compliance and document services, including support for disclosures, enabling lenders to confidently navigate the large number of regulatory and compliance issues the industry is dealing with today. DocuTech’s compliance staff backs ConformX by monitoring and updating the program to ensure all closing document and disclosure packages are accurate and compliant.

“With new regulations from national and state legislatures hitting the streets each month, it is crucial that our lenders have immediate access to accurate documents,” said Sriram Srinivasan, global head, banking practice, Wipro Technologies. “The partnership with DocuTech provides that accuracy and guaranteed compliance while helping us deploy the updates quickly through online updates.”

NetOxygen contains robust functionality for lead management, integrated vendor services and workflow management, all of which contribute to automating and managing the mortgage process. The NetOxygen workflow management feature employs predefined business rules to handle even the most complex lending scenarios by anticipating each step of the lending process to take the guesswork out of processing loans.
ConformX securely delivers printed-paper, e-mail and Web-posting document options from any Internet location around the world. Lenders can also customize business process rules to meet state and federal requirements, enhance security, require high-cost loan checks and ensure that only the needed documents are printed.

“Mid-sized lenders are seeing the advantages that hosted software provides – faster speed, more security and lower cost,” said Ty Jenkins, CEO for DocuTech. “ConformX makes any computer or laptop a closing table by delivering compliant disclosures and documents through a secure Web connection.”

About DocuTech Corp
Since 1991, Idaho Falls, Idaho-based DocuTech Corp. (DocuTech) has provided outstanding compliance services and documentation technology for the mortgage industry. The company specializes in closing documents, initial disclosure documents, borrower doc delivery and integrated compliance checks. DocuTech manages and secures all information needed for a loan, guaranteeing accuracy, security and compliance. For more information visit the company's Web site at www.docutechcorp.com.