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
For more information, visit www.mrgdocs.com.