SAN FRANCISCO, Oct. 19, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced at MBA’s 95th Annual Convention and Expo (booth 834) that lenders using its MIRACLE ONLINE document preparation systems can now request modification agreements via the Internet.
By requesting loan modifications online, lenders can now instantly create changes to their loan document packages if workouts are necessary. These modified agreements, which have been available since the end of 2007, also enable lenders to remain in compliance with changing lending legislation and requirements. Modifications made by MRG users typically include changes to note and security agreement rates and terms.
"Providing originators with the ability to restructure terms and conditions is a necessary function in light of the current lending climate,” said Terry King, group chairman of MRG. "Having instant access to loan modification agreements is another step MRG is taking towards making the documentation aspect of lending as streamlined as possible.”
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.
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.
