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HUD issues guidance on Fair Housing Act and sexual harrasment

National Mortgage Professional
Nov 24, 2008

Ellie Mae and Online Documents enter the servicing market with loan modification solutionMortgagePress.comEllie Mae, Online Documents, mortgage servicing, loan modifications, Ellie Mae, a provider of loan processing software for mortgage brokers, bankers and other third party originators, and its newly acquired subsidiary Online Documents, a provider of flexible, compliant electronic mortgage documents and related services to the mortgage industry, are answering the industry's need for efficient loan modification with a collaborative, end-to-end solution that enables lenders to create and update loan modification closing packages on a real-time basis, while also meeting investor requirements with flexibility, complete accuracy and secure online delivery. Ellie Mae's loan modification solution is the result of a collaborative effort between Online Documents and Ellie Mae's highly experienced loss mitigation partners, who are working together to provide the industry with a comprehensive solution that is now being used by several top 10 loan servicers to process over 5,000 of their loan modifications per week. This comprehensive solution offers a best practices approach that assesses the needs of the lenders workflow, accommodates lender-specific workout plans, and handles all recording and notary requirements, as well as package content and compliance monitoring and consistency. With this new solution, creating a loan modification package is simple and streamlined, with web-based data entry that requires no re-keying of data. Users can choose from a library of standard yet customizable loan modification agreements, and all documents are compliant with Fannie Mae, Freddie Mac and MERS requirements. Users have the choice of offering borrowers electronic signing or secured "wet signing," which is a live signature on an actual document, with comprehensive recordation services. The system can be deployed in days, rather than weeks, and offers the convenience and benefit of real-time loan level reports, secure electronic delivery and complete visibility into the business volume for the client company. "Earlier this year, top loan servicers performed due diligence to determine the best-in-breed resources to handle their emerging loss mitigation demands," said Jonathan Corr, chief strategy officer at Ellie Mae. "These servicers knew that they couldn't afford to take any chances with their loan modification packages, and chose Ellie Mae/Online Documents and its experienced partners to handle the massive assignment. This market is bringing about an unprecedented number of regulatory changes, and lenders and servicers are turning to the industry experts to ensure that they meet those changes with compliance, efficiency and flexibility. With this new loan modification solution, Ellie Mae/Online Documents is helping overburdened lenders and servicers meet challenging market conditions with the confidence that comes from accuracy, compliance and flexibility, conveniently packaged and provided by trusted leaders in the mortgage industry." For more information, visit www.EllieMae.com.
Published
Nov 24, 2008
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