DALLAS, Oct. 17, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced its integration with San Francisco-based ComplianceEase®, a provider of risk management solutions for the residential mortgage industry, to provide automated compliance auditing for closing documents prepared by MRG.
ComplianceEase’s automated compliance system, ComplianceAnalyzer®, is accessible through MRG’s document preparation system, MIRACLE ONLINE. The integration enables lenders using MRG to immediately access all ComplianceEase tests and reports online. Audit results for possible compliance issues are available in both summary and detail formats.
There is no additional charge for users to access ComplianceEase via MIRACLE ONLINE. Lenders simply sign up directly with ComplianceEase and the integration is handled by MRG.
"Benefits of the integration to MRG users include reduced risk exposure, improved asset quality and profitability, proactive compliance enforcement and increased cost savings, efficiency and accuracy," said Michael Chan, vice president of ComplianceEase. “Our audits alert lenders to possible compliance issues with rapidly changing regulations related to anti-predatory/high cost lending and government agency lending, for example.”
“This alliance enables mortgage lenders to access an integrated portal with ComplianceEase without burdening them with additional technology systems to manage the connection,” said Terry King, group chairman of MRG. "Combining MRG’s customizable document preparation packages with ComplianceEase’s comprehensive compliance checks gives lenders an additional incentive to use both companies to deliver a fully compliant loan to the market.”
MRG offers a browser-based system for the preparation and delivery of compliant document packages for mortgage lenders nationwide. The specific needs of 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.
About ComplianceEase®
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a premier provider of intelligent business solutions to the financial services industry. ComplianceEase's patented platform includes ComplianceAnalyzer – the mortgage industry's leading automated compliance solution. ComplianceEase combines industry and regulatory compliance expertise with innovative technology to power beginning-to-end solutions in a fraction of the time and for a fraction of the cost of traditional approaches, while providing high levels of accuracy and integrity. ComplianceEase's significant and growing client base includes four of the top five mortgage lenders in the nation, and over 250 financial institutions, service providers, and regulators. Managed by a team of highly experienced and innovative mortgage professionals, the company is funded by the First American Corporation, the WI Harper Group, and the senior management team. For more information about ComplianceEase, visit www.ComplianceEase.com.
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.
