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MRG named a RegulatorConnect Certified Partner by ComplianceEase

NationalMortgageProfessional.com
Mar 22, 2010

MRG Document Technologies (MRG), a provider of mortgage document preparation and compliance technology to banks, credit unions and other lenders nationwide, announced it has been named a RegulatorConnect Certified Partner by ComplianceEase, which means that lenders can use the company’s solutions to prepare loan data for industry standard electronic submission to state regulators for examinations. MRG’s Miracle Online was certified by ComplianceEase due to its examination data export functionality as well as its integration with ComplianceEase’s ComplianceAnalyzer product, which additionally enables the electronic transfer of compliance audits to state regulators. “MRG supports the move to a more automated, electronic data-based exam process for mortgage lenders because of the increased efficiency,” said Laura LaRaia, an attorney and director of customer service at MRG. “As the regulatory landscape continues to become more complex, it is vital for lenders to have automated processes in place in order to comply with state and federal regulations. MRG’s Miracle Online enables lenders to access fully compliant document packages and prepare data from those documents for electronic transmission to state regulators.” The examination automation initiative was developed by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) in order to bring greater uniformity and modernization to the mortgage examination process. To accomplish these goals, CSBS and AARMR established the Nationwide Cooperative Agreement for Mortgage Supervision (NCA), enabling states to share information and coordinate the supervision of lenders. Under the guidelines, examiners are moving from sample-based audits to looking at 100 percent of an originator’s production. ComplianceEase was chosen as the technology provider for the project in part due to its ability to provide technology to automate the testing of loans for compliance. MRG offers a browser-based system for the preparation and delivery of compliant document packages, electronic disclosures, loan modifications and other services for mortgage lenders, banks and credit unions nationwide. MRG guarantees that its products are in compliance with the most recent legislative and regulatory changes. For more information, visit www.mrgdocs.com.  
Published
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