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MBA launches council on ensuring mortgage liquidity

National Mortgage Professional
Oct 16, 2008

MRG forms alliance with ComplianceEaseMortgagePress.comMRG Document Technologies, ComplianceEase, MIRACLE ONLINE MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced its integration with San Francisco-based ComplianceEase, a provider of risk management solutions for the residential mortgage industry, to provide automated compliance auditing for closing documents prepared by MRG. ComplianceEase's automated compliance system, ComplianceAnalyzer, is accessible through MRG's document preparation system, MIRACLE ONLINE. The integration enables lenders using MRG to immediately access all ComplianceEase tests and reports online. Audit results for possible compliance issues are available in both summary and detail formats. There is no additional charge for users to access ComplianceEase via MIRACLE ONLINE. Lenders simply sign up directly with ComplianceEase and the integration is handled by MRG. "Benefits of the integration to MRG users include reduced risk exposure, improved asset quality and profitability, proactive compliance enforcement and increased cost savings, efficiency and accuracy," said Michael Chan, vice president of ComplianceEase. "Our audits alert lenders to possible compliance issues with rapidly changing regulations related to anti-predatory/high cost lending and government agency lending, for example." "This alliance enables mortgage lenders to access an integrated portal with ComplianceEase without burdening them with additional technology systems to manage the connection," said Terry King, group chairman of MRG. "Combining MRG's customizable document preparation packages with ComplianceEase's comprehensive compliance checks gives lenders an additional incentive to use both companies to deliver a fully compliant loan to the market." MRG offers a browser-based system for the preparation and delivery of compliant document packages for mortgage lenders nationwide. The specific needs of 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 informaiton, visit www.ComplianceEase.com or www.mrgdocs.com.
Published
Oct 16, 2008
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