June 16, 2015

Accenture Mortgage Cadence Upgrades its Enterprise Lending Center Software to Support New Industry Requirements

New version of Enterprise Lending Center enables easier compliance for lenders

DENVER, CO; June 16, 2015 – Accenture (NYSE: ACN) launched a new version of the Accenture Mortgage Cadence Enterprise Lending Center platform in order to provide new functionality around key regulatory changes, providing tools to help lenders stay in compliance and provide better service to customers.

New regulations, called the TILA-RESPA Integrated Disclosure Rule, replaced two legacy loan origination documents and affect various calculations and workflow that take place during the loan process, requiring changes to both loan origination technology and lender processes. The Enterprise Lending Center, one of two SaaS-based loan origination systems offered by Accenture Mortgage Cadence, is highly configurable and rules-based, allowing mortgage lenders to update their systems in advance of the regulation deadline.

Accenture Mortgage Cadence was able to roll out the Enterprise Lending Center 8.0 release to accommodate the regulatory changes in advance of the rule’s August 1, 2015 effective date. Enterprise Lending Center Version 8.0 delivers the following enhanced capabilities:

• The new Loan Estimate and Closing Disclosure, which include the new TILA-RESPA data points and supporting calculations;
• Functionality that will enable three business day advance delivery of Closing Disclosures to consumers, as required by the regulation;
• New tests and screens to provide comparison data for fees and Changed Circumstance options
• Updates to partner integrations to improve the user experience with service orders, enabling loan compliance assessments and loan-level constrained taxes and fees estimates.

“This tremendous initiative helps to prepare our clients for the TILA-RESPA rule well ahead of the deadline. Enterprise Lending Center 8.0 gives lenders the opportunity to thoroughly test the two new documents required by the TILA-RESPA Integrated Disclosure Rule – the Loan Estimate and Closing Disclosure. Consequently, lenders will be in a better position to execute mortgage loans in a compliant manner with confidence by the deadline so that customers will see no gap in services” said Trevor Gauthier, managing director, Accenture Mortgage Cadence. “Accenture Mortgage Cadence has a longstanding history of releasing compliance changes in advance of their respective deadlines, and our changes around the TILA-RESPA Integrated Disclosures continues this tradition.”

About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with more than 323,000 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$30.0 billion for the fiscal year ended Aug. 31, 2014. 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 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 lending, leasing and automotive finance industries.

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Contact:

Julie Bennink
Accenture
+ 1 312 693 7301
julie.l.bennink@accenture.com