TriNovus Announces StartSAFE Solution For Bank Compliance With The SAFE Act

Birmingham, Ala., February 17, 2010 – TriNovus, LLC (www.trinovus.com), a company focused on delivering relevant technology solutions to the financial marketplace, announced today the launch of StartSAFE, a comprehensive solution to aid banks in meeting the compliance requirements of The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). StartSAFE will be a part of TriComply, TriNovus’ suite of products designed to provide community banks solutions to aid in compliance with new and ever-changing banking regulations.

The SAFE Act requires that all mortgage loan originators (“MLOs”) register in a national registry and provide the registry information about themselves. The regulation also places significant responsibility on banks that employ MLOs requiring among other things for them to establish procedures and tracking systems for monitoring registration and renewals and to develop educational programs for MLOs covering registration requirements.

StartSAFE addresses SAFE Act requirements by providing banks a turnkey solution consisting of SAFE Act training for MLOs; SAFE Act policy and procedure templates; and the web-based StartSAFE solution for automated submissions to the Nationwide Mortgage Licensing System and Registry, tracking of MLO initial submission data and updates, and secure archival and off-site storage of MLO data and NMLS submissions.

Also currently part of TriNovus’ TriComply product suite is BankRISK, its stress testing and risk management solution for assessing loan portfolio risk. Additional compliance solutions are currently in development.
“With compliance there is always something new that the banks need to do,” said David Brasfield president and CEO of TriNovus. “It is our goal that TriNovus’ TriComply product suite will offer solutions that enable community bankers to respond to new regulatory requirements as efficiently and cost effectively as possible. StartSAFE is one of many such products that we plan to introduce to the market.”

About TriNovus
TriNovus, a Birmingham, Ala.-based company, was founded with the goal of delivering relevant technology solutions to the financial marketplace. For more information on TriNovus, visit www.trinovus.com or contact David Brasfield at 205.991.5636 or david.brasfield@trinovus.com.

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