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HUD approves single national loan limit of $417,000 for reverse mortgage program

National Mortgage Professional
Oct 03, 2008

MRG supports online orders for loan modification agreementsMortgagePress.comMRG Document Technologies, MIRACLE ONLINE, loan modifications MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, has announced that lenders using its MIRACLE ONLINE document preparation systems can now request modification agreements via the Internet. By requesting loan modifications online, lenders can now instantly create changes to their loan document packages if workouts are necessary. These modified agreements, which have been available since the end of 2007, also enable lenders to remain in compliance with changing lending legislation and requirements. Modifications made by MRG users typically include changes to note and security agreement rates and terms. "Providing originators with the ability to restructure terms and conditions is a necessary function in light of the current lending climate," said Terry King, group chairman of MRG. "Having instant access to loan modification agreements is another step MRG is taking towards making the documentation aspect of lending as streamlined as possible." 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, visit www.mrgdocs.com.
Published
Oct 03, 2008
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