October 29, 2013

Accenture Introduces Software to Help Mortgage Lenders Prepare for Regulatory Changes on Ability to Repay and Qualified Mortgage Rules

WASHINGTON, D.C. – Oct. 29, 2013 – Accenture (NYSE: ACN) is releasing new versions of Accenture Mortgage Cadence software to help clients prepare for new Ability to Repay and Qualified Mortgage rules under the Dodd-Frank Act and promoted by the Consumer Finance Protection Bureau (CFPB). Updates to The Enterprise Lending Center (formerly Orchestrator) and The Loan Fulfillment Center (formerly Symphony) were announced at the Mortgage Bankers Association’s 100th Annual Convention and Expo.

“Helping our clients prepare for regulatory changes and remain compliant through technology and education is an important part of our development strategy,” said Michael Detwiler, managing director of Accenture Mortgage Cadence. “With updated versions of The Enterprise Lending Center and the Loan Fulfillment Center, we aim to make the transition to these new regulations as seamless and painless as possible for our clients.”

Over the past year, Accenture Mortgage Cadence has focused on helping lenders prepare their operations for Qualified Mortgage rules – engaging with industry experts and clients and conducting client education programs and scenario demonstrations of how Accenture Mortgage Cadence technology can help ease compliance with the new rules.

Enhanced versions of The Enterprise Lending Center and The Loan Fulfillment Center have been released to provide clients with ample time to prepare, train and adjust their processes. Both platforms now offer guidance for mortgage teams with a series of questions to determine eligibility under Ability to Replay and Qualified Mortgage rules. The result is an efficient workflow-driven approach to compliance that moves loans rapidly though the mortgage cycle, helping to save time and effort.

“Compliance throughout the entire loan process is a fact of life for our clients and can be a key factor for borrowers that want to ensure their lender is meeting all regulations. The Ability to Repay and Qualified Mortgage rule are the latest example of how our compliance team keeps a keen eye on the regulatory environment so that we keep our clients informed and ready and our technologies up-to-date,” said John Levonick, chief legal and compliance officer, Accenture Mortgage Cadence.

About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.

Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions, like Accenture Mortgage Cadence, to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. Accenture Mortgage Cadence also serves as the core mortgage loan-origination platform for Accenture Credit Services, a business service providing consulting, technology and outsourcing services to the residential mortgage, commercial real estate, leasing and automotive finance industries.

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Julie Bennink
+ 312 693 7301

Sean Conway
+ 917 592 5744