MRG Document Technologies (MRG), a provider of mortgage document preparation software and compliance technology to banks, credit unions and other lenders nationwide, has announced that Seatac, Wash.-based Elliott Bay Mortgage has selected MRG’s Miracle Online platform to automate compliance within its mortgage document packages.
Elliott Bay, a division of Mortgage Brokers Services Inc., is a locally owned, full-service mortgage company serving the Northwest United States. Through its four branches, the lender seeks to educate borrowers on the best loan programs for their situations. After being referred to MRG by a fellow lender, Elliott Bay chose the document preparation provider to guarantee that each loan is in full compliance without taking time away from loan officers’ hands-on approach to helping borrowers.
“We work to ensure that our customers have the correct loan product to suit their current and future needs, which means spending significant time on education and service,” said Paul Bina, chief executive officer of Elliott Bay Mortgage. “Through Miracle Online, our compliance tests are automated and with a team of in-house compliance experts and attorneys creating the content, we know that each document has been updated with the latest regulatory changes. Additionally, the system is easy to use with an understandable workflow.”
Through Miracle Online, Elliott Bay is able to automate data entry and compliance testing, such as high-cost testing, fee allowances, and other state and federal-specific restrictions. MRG also simplifies Elliott Bay’s transactions with the nation’s largest investors by providing all necessary documents built to each investor’s specifications.
“With a Web-based system like Miracle Online, small and mid-sized lenders have the same document preparation advantages as larger institutions without the costly implementation of software and user licenses,” said Laura LaRaia, an attorney and director of customer service at MRG. “Automating regulatory compliance allows Elliott Bay’s staff to spend the time that they need with their borrowers, ensuring satisfied customers and long-lasting relationships.”
For more information, visit www.ebaymortgage.com or www.mrgdocs.com.