Wholesaler Wins With E-Approach
FEDERAL WAY, WA -- Wholesaler Sydion Financial here attributes its success in a down market in part to its document generation strategy.
Sydion opened in December 2006 and began producing in October 2007, a time when many other lenders were experiencing subprime loan problems and exiting the market. Sydion's model focuses on forming exclusive relationships with brokers instead of booking as many loans as possible.
To read the entire article, visit National Mortgage News' Web site.
Monday, August 25, 2008
Monday, August 4, 2008
MRG Launches Electronic Consent for Disclosures Product
DALLAS, Aug. 4, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced the launch of MRG eConsent, a solution that provides up-front federal and state specific disclosures directly to consumers in an electronic format.
eConsent streamlines the process of handling initial disclosures by making it completely electronic, and eliminating the printing, mailing, receiving and tracking of paper documents. By accessing disclosures electronically, borrowers can consent to accept, view and acknowledge disclosures at home or at work. eConsent complies with legislative and regulatory requirements for providing disclosures to the consumer.
1-800 East West Mortgage, a Marlborough, Mass.-based lender that originates loans for borrowers throughout New England and Florida, acted as the beta test customer for the electronic disclosure product. The lender volunteered to participate as the beta tester of eConsent because of its positive experiences with MRG products in the past.
“MRG eConsent is one of the tools we use to reduce the amount of labor required to complete the origination of a loan,” said David Bernotas, president and CEO of 1-800 East West Mortgage. “This electronic disclosures consent product fully automates the transmission and receipt of the approved documents and helps us more efficiently manage the origination process.”
"For users who need additional functionality, there is also a branded, private-labeled eConsent Web portal to further enhance the relationship with borrowers, and detailed reporting data that can be used for data mining,” said Terry King, group chairman of MRG.
MRG offers a browser-based system for the preparation and delivery of compliant document packages for mortgage lenders nationwide. The specific needs of the individual lenders are met through customized document packages, designed by in-house legal professionals and IT specialists. MRG also offers a variety of delivery options for document packages using e-mail and Web site delivery.
Questions about electronic disclosures can be directed to Sarah Cannon at (678) 781-7216.
About MRG Document Technologies
Founded in 1980, Dallas-based MRG Document Technologies (MRG) is the mortgage document practice group within Middleberg Riddle & Gianna, a mortgage regulatory law firm. MRG designs, maintains and warrants as compliant more than 3,000 lender-specific electronic disclosure and closing documents for approximately 350 mortgage lenders, banks and other financial institutions throughout the United States. The company’s loan documents are guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.
eConsent streamlines the process of handling initial disclosures by making it completely electronic, and eliminating the printing, mailing, receiving and tracking of paper documents. By accessing disclosures electronically, borrowers can consent to accept, view and acknowledge disclosures at home or at work. eConsent complies with legislative and regulatory requirements for providing disclosures to the consumer.
1-800 East West Mortgage, a Marlborough, Mass.-based lender that originates loans for borrowers throughout New England and Florida, acted as the beta test customer for the electronic disclosure product. The lender volunteered to participate as the beta tester of eConsent because of its positive experiences with MRG products in the past.
“MRG eConsent is one of the tools we use to reduce the amount of labor required to complete the origination of a loan,” said David Bernotas, president and CEO of 1-800 East West Mortgage. “This electronic disclosures consent product fully automates the transmission and receipt of the approved documents and helps us more efficiently manage the origination process.”
"For users who need additional functionality, there is also a branded, private-labeled eConsent Web portal to further enhance the relationship with borrowers, and detailed reporting data that can be used for data mining,” said Terry King, group chairman of MRG.
MRG offers a browser-based system for the preparation and delivery of compliant document packages for mortgage lenders nationwide. The specific needs of the individual lenders are met through customized document packages, designed by in-house legal professionals and IT specialists. MRG also offers a variety of delivery options for document packages using e-mail and Web site delivery.
Questions about electronic disclosures can be directed to Sarah Cannon at (678) 781-7216.
About MRG Document Technologies
Founded in 1980, Dallas-based MRG Document Technologies (MRG) is the mortgage document practice group within Middleberg Riddle & Gianna, a mortgage regulatory law firm. MRG designs, maintains and warrants as compliant more than 3,000 lender-specific electronic disclosure and closing documents for approximately 350 mortgage lenders, banks and other financial institutions throughout the United States. The company’s loan documents are guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.
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