MRG offers initial disclosures for Mortgage Brokers in 50 statesMortgagePress.comMRG, broker disclosures,
MRG Document Technologies (MRG), a provider of compliance and
documentation services for the financial industry, announced the
ability to offer initial disclosures to mortgage brokers in all 50
states.
As state legislators throughout the country scrutinize their
lending requirements and regulations in the wake of rising defaults
and foreclosures, several new policies have been directed towards
mortgage lenders and originators. Industry experts expect the trend
of tightening regulations to continue, particularly for mortgage
brokers.
In an effort to assist mortgage professionals with these new
regulations, MRG's legal staff developed compliant broker
disclosures for each state. These disclosures are available to the
lending community via the internet through MRG's miracle online
document preparation software. MRG's eConsent solution enables
originators to provide these state specific disclosures directly to
consumers in an electronic format. "During the past year,
regulatory changes in states across the country have dramatically
complicated the disclosure requirements for residential mortgages,
especially for those originated by Mortgage Brokers," said Terry
King, group chairman of MRG. "Providing brokers and originators
with online access to compliant disclosures is another way that MRG
streamlines the documentation process for its customers." MRG
offers a browser-based system for the preparation and delivery of
compliant document packages for mortgage lenders nationwide. The
specific needs of the individual lenders are met through customized
document packages, designed by in-house legal professionals and IT
specialists. MRG also offers a variety of delivery options for
document packages using e-mail and Web site delivery. For more
information about MRG, visit www.mrgdocs.com.
