MRG Document Technologies (MRG), a provider of mortgage document preparation software and compliance technology to banks, credit unions and other lenders nationwide, has today that its MIRACLE Online electronic document preparation system is integrated with Southfield, Mich.-based Mortgage Builder’s award-winning loan origination software (LOS) system.
For lenders operating in several states, such as Texas, closing document packages must be prepared by a licensed attorney. Through the integration, loan data can now be imported directly from the Mortgage Builder LOS into MIRACLE Online where MRG’s in-house staff of attorneys creates the content for the closing packages. This automation alleviates the risk of inaccuracy that can develop with the manual re-keying of data. In addition, Mortgage Builder’s clients benefit from closing documents that are guaranteed to be in compliance with the latest regulatory updates.
“Our goal is to streamline the origination process so our lenders can work more efficiently and cost-effectively,” said Liz Fafette, vice president of operations for Mortgage Builder. “By integrating with MRG, our customers are able to easily move the data between the LOS and doc prep system, improving accuracy and saving time. Accuracy is essential to prevent repurchase demands in the current environment. And with the additional oversight we can expect as the Dodd-Frank Act is enacted, lenders will benefit from the precision this integration brings.”
“Data such as escrow setup, title insurance premiums and county tax stamps can easily be misread and re-entered into the system incorrectly,” said Kathleen Mantych, senior marketing director for MRG. “Direct export from the LOS into MIRACLE Online is especially beneficial for those lenders producing loans in states that require attorneys to prepare closing packages because it cuts a step out of the process. We look forward to assisting Mortgage Builder’s clients with the quicker, streamlined production of regulatory compliant documents.”
For more information, visit www.MortgageBuilder.com or www.mrgdocs.com.