NEW HAVEN, Conn., Nov. 28, 2017 (GLOBE NEWSWIRE) -- Continuity, a provider of automated compliance management technology for financial institutions, announces that Waterstone Mortgage, a nationwide mortgage lender, has selected Continuity’s RegAdvisor®Pro, RegControls™ and ControlsBuilder™ in order to streamline the lender’s compliance management needs.
Waterstone Mortgage has experienced rapid growth and has expanded its lending practice into 43 states, making its compliance needs more burdensome with the additions of new state regulations and more branches. In July 2017, Waterstone Mortgage implemented Continuity’s RegAdvisor®Pro and RegControls™ solutions in order to create a unified compliance management system with centralized methods of tracking compliance efforts, monitoring compliance activity and reporting data.
Prior to partnering with Continuity, Waterstone Mortgage tracked its compliance efforts through elaborate spreadsheets and calendar reminders. Continuity’s solution enabled Waterstone Mortgage to streamline its compliance efforts through a centralized system.
Waterstone Mortgage was able to take advantage of Continuity’s customization features within ControlsBuilder™ to create custom reports and controls specific to its specialized lending needs. As Waterstone Mortgage operates in 43 states, it uses Continuity’s RegAdvisor®Pro and RegControls™ to stay up-to-date on all relevant state and federal regulatory requirements.
“Continuity offered us the ability to centralize our compliance management program and move away from our previous elaborate and labor-intensive system,” said Chris Hatton, Compliance Manager at Waterstone Mortgage. “The systematic step-by-step processes take our staff through compliance procedures, from implementing a new regulation to preparing for audits, more efficiently and effectively than our old processes and procedures.”
“Our decision to partner with Continuity has transformed our former compliance efforts into a centralized, methodical compliance management system,” said Kate Johnson, vice president of Compliance at Waterstone Mortgage. “Continuity’s solution has enabled us to keep up with the constantly changing environment by helping us develop an agile compliance management system.”
“Waterstone Mortgage’s successful growth over the last several years has dramatically increased the compliance burden on its staff,” said Mike Nicastro, CEO of Continuity. “Waterstone Mortgage has been able to leverage our technology to reinvent its compliance management effort by making a systematic, centralized system designed to adapt to the changing environment.”
About Waterstone Mortgage Corporation:
Headquartered in Pewaukee, Wisconsin, Waterstone Mortgage is a wholly owned subsidiary of WaterStone Bank SSB (NASDAQ:WSBF) with assets of more than $1.8 billion. Founded in 2000, the company now originates loans in 43 states. Waterstone Mortgage teams up with NAHREP Consulting Services. In 2016, it surpassed $2.5 billion in annual mortgage origination volume. To learn more about Waterstone Mortgage, visit www.waterstonemortgage.com.
About Continuity
New Haven, Connecticut-based Continuity is a provider of regulatory technology (RegTech) solutions that automate compliance management for financial institutions of all sizes. By combining regulatory expertise and cloud technology, Continuity provides a proven way to reduce regulatory burden and mitigate compliance risk at a fraction of the cost. Our solutions are designed to automate all aspects of compliance management, from interpretation of regulatory issuances through intuitive task delegation, vendor management, and board reporting. Continuity serves hundreds of institutions across the United States and its territories. For more information about Continuity, visit Continuity.net.
MEDIA CONTACT:
Debbie Rayburn
678-781-7220
deborah@williammills.com