Thursday, April 22, 2010
Tuesday, February 16, 2010
First Guaranty Mortgage Corporation Selects MRG For Document Preparation Services
DALLAS, Feb. 16, 2010 – MRG Document Technologies (MRG), a provider of mortgage document preparation and compliance technology to banks, credit unions and other lenders nationwide, announced First Guaranty Mortgage Corporation (FGMC) has selected MRG for its document preparation services.
McLean, Va.-based FGMC selected MRG due to the integration of flexible Web-based technology and deep knowledge of mortgage compliance, providing the lender with real-time regulatory updates in all of its mortgage documents, from initial disclosures to closing packages. FGMC executive vice president and general counsel Matthew Silverstein also cited MRG’s willingness to discuss customers’ specific needs and provide hands-on service and advice.
“Compliance is a complex area and it was important that we choose a provider that was willing to work with us one-on-one,” said Silverstein. “MRG’s clear focus on mortgage compliance, understanding of lenders’ operational requirements, as well as providing direct access to a team of attorneys, made us confident in the company’s ability to manage FGMC’s compliance.”
“As regulatory compliance becomes more challenging to maintain, it is vital that lenders choose a partner that not only provides the content for mortgage documents, but also the legal knowledge to support the documents,” said Mike O’Leary, senior mortgage consultant for MRG. “Our Miracle Online doc prep technology enables FGMC to quickly and easily order and access its compliant loan document packages, leaving more time to focus on originating loans and increasing business.”
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’s products are guaranteed to be in compliance with the most recent legislative and regulatory changes.
About First Guaranty Mortgage Corporation
Established in 1988, McClean, Va.-based First Guaranty Mortgage Corporation is a full service lender operating in offices across America. For more information about FGMC, visit http://www.fgmc.com.
About MRG Document Technologies
Tuesday, February 2, 2010
MRG Increased Strategic Alliances in 2009 to Assist Lenders with Mortgage Compliance
DALLAS, Feb. 2, 2009 – MRG Document Technologies (MRG), a provider of mortgage compliance technology and services to banks, credit unions and other lenders nationwide, announced that it focused on developing strategic integrations and partnerships in 2009, increasing the number of lenders that access its compliant mortgage document preparation services.
Some of the key alliances include:
§ Partnered with Kroll Factual Data to provide clients with access to three of Kroll’s risk assessment services through MRG’s MIRACLE Online compliance software, including a “Reg Flag Rules” plan
§ Integrated with OpenClose’s loan origination system LenderAssist™, enabling one-click access to MRG’s compliant loan closing document packages through the LOS
§ Integrated with ISGN’s Diamond™ mortgage loan origination software, giving Diamond users access to MRG’s compliant mortgage document packages
§ Developed reseller agreement with RTE Financial Services to assist credit unions with compliance initiatives
MRG also supported clients through a challenging mortgage compliance landscape in 2009 by proactively addressing regulatory changes. It enhanced its eConsent electronic disclosure delivery system to assist lenders with Regulation Z; developed tests that enabled lenders to comply with the higher-priced mortgage loan rule; drafted loan modification document packages compliant with the Home Affordable Modification Program (HAMP); as well has helped lenders prepare for the 2010 RESPA changes.
“2009 represented challenges for lenders across the spectrum,” said Mike O’Leary, senior mortgage consultant for MRG. “MRG assisted clients during this difficult time by forming strategic alliances with innovative, reliable partners, while continuing to develop mortgage technology that provides compliant documents with real-time updates, supported by a team of mortgage attorneys. This expertise enables MRG to provide lenders with guaranteed, outsourced compliance solutions.“
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’s products are guaranteed to be in compliance with the most recent legislative and regulatory changes.
About MRG Document Technologies
Since 1980, Dallas-based MRG Document Technologies (MRG) has provided a variety of mortgage technology products and compliance solutions including closing documents, loan modifications, electronic disclosures, fraud prevention and imaging integration to approximately 350 mortgage lenders, banks and credit unions throughout the United States. For more information about MRG, visit www.mrgdocs.com.
Monday, December 7, 2009
MRG Document Technologies Strikes Reseller Agreement with RTE Financial Services
RTEfs’ knowledge of the credit union industry, coupled with MRG’s MIRACLE mortgage loan products ensures that credit unions are provided with the most up-to-date document compliance measures for their needs, including access to document design, preparation, real-time compliance and electronic delivery, as well as legal expertise regarding federal and state regulations such as RESPA, TILA, HAMP and HVCC from MRG’s team of mortgage banking attorneys. This is especially important to credit unions and other lenders, which face a changing regulatory landscape.
“RTE Financial Services understands the complexity of mortgage transactions for financial institutions, including continuous compliance, document selection and integration demands,” said Gary Hess, president of RTE Financial Services. “MRG’s MIRACLE online products provide our clients with secure and efficient ways to navigate these significant issues, keeping them ahead of the curve in the changing financial industry.”
“Credit unions have unique mortgage document needs and remaining current on regulations demands constant research and monitoring,” said Mike O’Leary, senior mortgage consultant at MRG. “We look forward to working with RTEfs to ensure that its credit union clients are able to put mortgage document preparation in the control of an experienced team of mortgage experts and attorneys, focusing more time on member service and training staff.”
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.
About RTE Financial Services
Minnesota-based RTE Financial Services is a value added reseller of software to the financial services industry, including Web-based solutions for account opening, lending, marketing and document preparation. RTEfs focuses on providing turnkey products to handle complex tasks. For more information, visit the RTEfs Web site at www.rtefs.com.
About MRG Document Technologies
Since 1980, Dallas-based MRG Document Technologies (MRG) has provided a variety of mortgage technology products and compliance solutions including closing documents, loan modifications, electronic disclosures, fraud prevention and imaging integration to approximately 350 mortgage lenders, banks and credit unions throughout the United States. For more information about MRG, visit www.mrgdocs.com.
Wednesday, December 2, 2009
Media Coverage: "Sifting Through Reg Z Changes" by Marsha Williams in Mortgage Technology
By Marsha Williams, Attorney, MRG
Lenders need to understand the recent legislative and regulatory changes affecting the disclosure process in order to avoid potential delayed closings and loss of originations.
The Mortgage Disclosure Information Act expands the requirements for early disclosures. The most notable requirement of MDIA is that if the annual percentage rate provided in the early good-faith estimate disclosures changes beyond the specified TILA tolerance for accuracy under Regulation Z (one-eighth of one percent for a regular transaction or one-fourth of one percent for an irregular transaction), lenders must provide revised disclosures, which the consumer must receive on or before the third business day before consummation of the transaction.
To read the entire article, visit Mortgage Technology’s Web site.
Monday, November 23, 2009
MRG Document Technologies is Ready for RESPA Changes Taking Place Jan. 1, 2010
The RESPA changes were enacted by the Department of Housing and Urban Development (HUD) to ensure consumers receive more accurate estimates of closing costs, as well as a clearer comparison of the GFE and HUD-1 forms. The GFE will display the estimated total settlement costs on the first page, and lay out the terms of the loan in an easy to understand manner. These steps enable consumers to better comparison shop among loan originators and match up the estimated costs to the actual costs at closing, creating a more transparent, and better overall lending experience.
“Although these changes represent a good deal of preparation for lenders, we expect to see increased consumer confidence in the lending process as a result,” said Laura LaRaia, an attorney and director of customer service at MRG. “As lenders prepare for the January 1 deadline, implementing the forms developed by MRG will drastically improve the efficiency and accuracy of their compliance program in this time of transition. By outsourcing the production of the forms, financial institutions can focus on other aspects of the changes, such as training for the procedural adjustments.”
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.
About MRG Document Technologies
Since 1980, Dallas-based MRG Document Technologies (MRG) has provided a variety of mortgage technology products and compliance solutions including closing documents, loan modifications, electronic disclosures, fraud prevention and imaging integration to approximately 350 mortgage lenders, banks and credit unions throughout the United States. For more information about MRG, visit www.mrgdocs.com.
Monday, November 9, 2009
MRG Integrates with ISGN’s Diamond™ Loan Origination Software
Mortgage lenders using Diamond now have enhanced access to compliant loan closing document packages and electronic delivery solutions developed by MRG’s team of lawyers and mortgage industry specialists. The partnership streamlines the lending process by automating each step and ensuring that every document is accurate and compliant using the most up-to-date standards.
“ISGN focuses on providing our customers with technology that will truly enhance their businesses processes and by integrating with MRG, those customers are guaranteed the most streamlined, automated approach to ordering and delivering fully compliant loan closing documents,“ said Niraj Patel, president of products and services at ISGN.
“As the regulatory environment continues to grow more complex, ISGN’s Diamond users now have real-time regulatory updates accessible through their LOS. With ‘Compliance Plus’ ISGN’s Diamond users have fully integrated data and document compliance from initial disclosures through closing documents,” said Mike O’Leary, senior mortgage consultant at MRG. “Initial disclosures and loan closing packages ordered through ISGN’s Diamond™ mortgage loan origination software do not require the ISGN user to make legal decisions about their content.”
ISGN’s Diamond enterprise-wide mortgage loan origination software manages all aspects of loan production and completes all necessary documentation for the processing of a loan. The system automates the loan process, including calculations and submissions, as well as pricing and decisioning, using a single, real-time database.
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.
About ISGN
ISGN serves the mortgage lending space by providing an end-to-end spectrum of technology products, services and on-demand solutions. With a customer base of more than 600 lenders across the United States, including some of the world’s leading banks, ISGN provides complete technology and technology-enabled solutions that deliver value, improve customer satisfaction and have a measurable bottom-line impact. For more information, please visit www.ISGN.com.
About MRG Document Technologies
Since 1980, Dallas-based MRG Document Technologies (MRG) has provided a variety of mortgage technology products and compliance solutions including closing documents, loan modifications, electronic disclosures, fraud prevention and imaging integration to approximately 350 mortgage lenders, banks and credit unions throughout the United States. For more information about MRG, visit www.mrgdocs.com.