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Wolters Kluwer Begins Offering Lenders New Mortgage Information Kits

NationalMortgageProfessional.com
Oct 01, 2010

Wolters Kluwer Financial Services has announced the availability of the company’s new mortgage application and processing kits. The kits can be used by lenders to educate borrowers on the mortgage process, helping them to improve their financial literacy. The kits can also help lenders expedite the application process in order to close more loans; ensure disclosures are compliant and provided to borrowers as required; and make sure marketing activities are consistent across branches. Both the application and processing kits can be customized to a lender’s specific business, marketing and branding needs. The application kits can be provided to borrowers in English or Spanish. A standard mortgage application kit includes a letter outlining the benefits of working with the lender for their mortgage needs, a loan application with easy-to-follow instructions, as well as several consumer education pieces. The application kit helps educate borrowers up front by providing consumer education materials from how to select a mortgage to closing cost information. To help the lender ensure compliance with federal disclosure requirements, the kit also includes the U.S. Department of Housing & Urban Development’s (HUD) Settlement Cost Booklet and The Consumer Handbook on Adjustable Rate Mortgages. Once the application is complete, a lender can have Wolters Kluwer Financial Services send the borrower a mortgage processing kit. The kit contains all of the compliance disclosures and ancillary documents specific to the borrower’s loan that are required by federal law to begin processing the mortgage. Wolters Kluwer Financial Services assembles the processing kit on behalf of the lender by collecting borrower data from them via the company’s Secure Document Exchange (SDX) service and printing, assembling and mailing the kit directly to the borrower from the company’s secure fulfillment center. “By outsourcing these compliance, fulfillment and distribution activities to Wolters Kluwer Financial Services, lenders can make their production and origination functions more flexible, adaptable, and nimble while reducing cost and compliance risk,” said Jason Marx, vice president and general manager of the company’s Mortgage business line. For more information, visit www.WoltersKluwerFS.com/kits.
Published
Oct 01, 2010
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