MRG Document Technologies Press Room

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2010-04-22T22:17:00.001-05:00

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First Guaranty Mortgage Corporation Selects MRG For Document Preparation Services

2010-02-16T10:42:00.002-06:00

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.”

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

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.

MRG Increased Strategic Alliances in 2009 to Assist Lenders with Mortgage Compliance

2010-02-02T14:10:00.001-06:00

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.“

About MRG Document Technologies

MRG Document Technologies Strikes Reseller Agreement with RTE Financial Services

2009-12-07T12:08:00.002-06:00

DALLAS, Dec. 7, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage document technologies to banks, credit unions and other lenders, announced it has entered a partnership with RTE Financial Services (RTEfs), a reseller of Web-based software to the financial industry, that enables MRG’s MIRACLE electronic document preparation and compliance system to be marketed and promoted to RTEfs credit union clients.

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.

Media Coverage: "Sifting Through Reg Z Changes" by Marsha Williams in Mortgage Technology

2009-12-02T09:06:00.002-06:00

Sifting Through Reg Z Changes

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.

MRG Document Technologies is Ready for RESPA Changes Taking Place Jan. 1, 2010

2009-11-23T12:21:00.005-06:00

DALLAS, Nov. 23, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that it has completed the drafting of new Good Faith Estimate (GFE) and Settlement Statement (HUD-1) forms required by the upcoming Real Estate Settlement Procedures ACT (RESPA) changes and is prepared to have institutions in compliance by the Jan. 1, 2010 deadline.

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.

MRG Integrates with ISGN’s Diamond™ Loan Origination Software

2009-11-09T09:00:00.002-06:00

DALLAS, Nov. 9, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that it has integrated its CompliancePlus data and document compliance process with ISGN’s Diamond™ enterprise-wide mortgage 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.

MRG Launches Dashboard for Mortgage Originators and Servicers

2009-10-12T09:00:00.004-05:00

SAN DIEGO, Oct. 12, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced at MBA’s 96th Annual Convention and Expo the launch of a dashboard feature to MIRACLE Online, its electronic document preparation and compliance software, so that mortgage originators and servicers can have detailed visibility into the process workflow of their loan originations, refinances and modifications.

Based on workflow criteria provided by the lender or servicer, the dashboard provides real-time visibility to the flow of document creation or the forward movement of multiple events affecting the status of loans. The dashboard and workflow concept gives lenders control of a situation and the ability to automate certain steps that are otherwise handled manually by an individual or team of people.

“We created the dashboard feature so lenders can find out exactly at what stage their loans are within the workflow at any given point in time and can share this information with their staff or technology partners,” said Laura LaRaia, an attorney and director of customer service at MRG. “For example, the dashboard reports let the lender or servicer know if loans are flowing at an optimal speed through the process or the reports may show that there is a backlog of loans that needs to be addressed by adding more staff to an area to handle the slowdown.”

The process workflow is a fully customizable, rules-driven engine with automatic notifications, conditional data analysis, reporting and historical audit tracking. Users can configure the visibility of individual windows of information, known as portlets, in the dashboard and can retain each user's preferences as to the location and order of these portlets to provide a personal dashboard for each user based on his or her role within the organization.

Dashboard features include drill-down functionality, role-based security, user-level filtering and private labeling. Workflow features include parallel processing, automated events created with lender or service definitions, data collection screens for manual events and customizable event duration thresholds with notifications. For example, a servicer working on loan modifications may define that a Home Affordable Modification Program (HAMP) Step 1 package is created for each loan that does not have existing liens attached to it. As loans pass through the workflow, the system automatically orders these document packages once it knows that there are no existing liens.

About MRG Document Technologies

MRG Integrates with OpenClose’s LenderAssist Loan Origination System

2009-10-05T08:22:00.001-05:00

DALLAS, Oct. 5, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that its MIRACLE Online electronic document preparation and compliance software has been fully integrated with West Palm Beach, Fla.-based OpenClose’s Web-based, end-to-end loan origination software, LenderAssist™.

Mortgage originators using LenderAssist can now access compliant document packages and electronic delivery solutions from MRG through a single sign-on built into the LOS. The partnership streamlines the loan origination process by integrating data exchange between the two systems to eliminate the need to rekey data.

“Mortgage lenders are facing a number of hurdles these days and need a loan origination system they can rely on to be compliant no matter what legislation or regulation was just passed or what state they operate in," said J.P. Kelly, president of Operations for OpenClose. “Through partners like MRG, we can offer our customers all the tools necessary to confidently close more loans and serve more borrowers in every possible market.”

“OpenClose users now have easier access to compliant mortgage closing documents that have been thoroughly vetted by MRG’s staff attorneys,” said Laura LaRaia, an attorney and director of customer service at MRG. “OpenClose users also have the ability to offer their borrowers electronic disclosure delivery options in order to both maintain compliance and shorten the disclosure and closing timeline.”

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 OpenClose

West Palm Beach, Fla.-based OpenClose Mortgage Software is a pioneer of on-demand mortgage solutions since its inception in 1999. The company offers mortgage banking software solutions, all delivered in a Web-based end-to-end mortgage-banking platform. LenderAssist is the company’s flagship mortgage banking software, DecisionAssist provides product pricing and eligibility, ConsumerAssist provides lenders with consumer-facing Web sites and BrokerAssist provides brokers with an origination system that tie into the other platforms. Each installation is customized to the lender’s workflow, business model and terminology. For more information, visit the company’s Web site at www.openclose.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.

MRG Co-Hosts Demonstration Suite at MBA’s 96th Annual Convention

2009-09-28T08:17:00.000-05:00

DALLAS, Sept. 28, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that it will co-host a demonstration suite with Guardian Resolution Services LLC (GRS) during MBA's 96th Annual Convention and Expo at the Manchester Grand Hyatt, San Diego, Oct. 12-13.

MRG and GRS will demonstrate to mortgage originators and servicers an outsourced solution for creating compliant loan documents and processing loan modifications, short sales and other foreclosure prevention options.

MRG can demonstrate to lenders how its eConsent electronic disclosure delivery system streamlines the process of handling initial disclosures by making it completely electronic and in full compliance with all existing and new Truth in Lending legislative changes. MRG also provides its clients with access to Kroll Factual Data’s risk assessment tests so lenders can identify potential fraudulent activity and use the tests as part of their “Red Flags Rule” plans, the federally mandated identity theft prevention plans that lenders must implement.

GRS can demonstrate its Web-based portal for efficient transaction management and control and its scalable, configurable mortgage resolution application to solve efficiency and quality challenges for services.

For more information or to set up an appointment, contact MRG’s Mike O’Leary at 214-220-6514 or GRS’s John Holloran at 972-652-3406.

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 Guardian Resolution Services

Guardian Resolution Services was formed in 2009 to help the mortgage industry process an unprecedented volume of mortgage loan modifications, short sales and facilitate other foreclosure prevention options. For more information about GRS, visit www.guardianresolution.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.

Media Coverage: Interview with Laura LaRaia in Mortgage Technology

2009-09-16T10:04:00.002-05:00

Keeping Lenders Honest

By Anthony Garritano

Was dishonesty a root cause of the current mortgage crisis? Washington thinks so. And to stop it from happening again new regulation is coming fast and furious. While this may seem like a recent development, actually the onslaught on new regulation around Truth-in-Lending started with the prior administration, when Title V of the omnibus Housing and Economic Recovery Act legislations was passed by Congress and signed into law by President Bush in July 2008.

To read the entire article, visit Mortgage Technology's Web site.

MRG Helps Lenders Prepare for Oct. 1 Deadline for Higher-Priced Mortgage Loan Rule

2009-09-15T07:56:00.000-05:00

DALLAS, Sept. 15, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, provides higher-priced mortgage loan tests that enable lenders to comply with the pending higher-priced mortgage loan rule that takes effect Oct. 1.

MRG’s higher-priced mortgage loan tests provide accurate, real-time compliance testing of individual loan data to make sure they comply with the predatory lending restrictions. Higher-priced mortgage loans are closed-end loans secured by a consumer's principal dwelling with an annual percentage rate (APR) that exceeds the average prime offer rate for a comparable transaction by at least 1.5 percentage points for first mortgages or 3.5 percentage points for subordinate liens.

“Mortgage lenders need to put processes or systems in place to make sure all of the loans they originate meet the parameters set forth by the Federal Reserve Board’s higher-priced mortgage loan rule by the Oct. 1 deadline,” said Laura LaRaia, an attorney and director of customer service at MRG. “Since the average prime rate changes on a weekly basis, this is a process that needs continuous attention and maintenance to remain accurate. If lenders are unable to tackle the issue by themselves, third-party technology providers such as MRG can help them maintain compliance.”

The rule that takes effect Oct. 1 adds four protections for the category of higher-priced mortgage loans secured by consumers’ primary residences. For loans in this category, these protections prohibit lenders from extending credit without regard to a consumer's ability to repay from sources other than the collateral itself; require lenders to verify income and assets they rely upon to determine repayment ability; prohibit prepayment penalties except under certain conditions; and require lenders to establish escrow accounts for taxes and insurance, but permit lenders to allow borrowers to cancel escrows 12 months after loan consummation effective after April 1, 2010.

Additional protections included in the Federal Reserve Board’s revision of the Truth in Lending Act’s Regulation Z for loans secured by a consumer’s principal dwelling include a prohibition on abusive servicing practices and a mandate that advertisements must clearly and conspicuously provide accurate information about rates, monthly payments and other loan features.

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 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.

Media Coverage: "Class Dismissed" by Laura LaRaia in Mortgage Banking

2009-09-01T07:56:00.001-05:00

Class Dismissed

By Laura LaRaia, Attorney and Director of Customer Service, MRG

In January 2008, I was asked by the managing partner of my law firm to review a brochure about the Mortgage Bankers Association’s (MBA’s) Future Leaders Program. The letter and brochure described an executive leadership development program that promised to deliver a comprehensive curriculum for selected middle- and senior-level executives who have shown leadership interests and abilities. I was asked if I might want to apply. It was clear the program would take a significant commitment--but I was intrigued nonetheless.

To read the entire article, visit Mortgage Banking's Web site to become a subscriber.

Media Coverage: Interview with Mike O'Leary in MBA NewsLink

2009-08-11T14:55:00.002-05:00

Current Environment Drives Use of ASP Models

By Michael Murray

Mortgage originators, seeing fewer originations and less available capital, are driving the Application Service Provider model, software-as-a-service, to save money.

“People don't have the capital to write big checks for these upfront systems, so you are seeing a not-so-subtle shift to the ASP models,” said Michael O'Leary, senior mortgage consultant at MRG Document Technologies, Dallas. “They have always been there, but now there is more and more of a shift, and a really hard look at a hosted system as opposed to one that [a company] invests in and maintains.”

To read the entire article, visit MBA NewsLink's Web site.

MRG Announces 10th Anniversary of Compliance Update Memoranda for Clients

2009-08-04T08:00:00.001-05:00

DALLAS, Aug. 4, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced the 10th anniversary of the distribution of its compliance update memoranda to clients and the second anniversary of providing them electronically.

These updates keep lenders informed about the ever-changing regulatory environment in the mortgage industry. The documents, delivered free of charge to all MRG clients, discuss issues such as when a new disclosure will begin printing in a particular loan closing package and whether clients will need to send additional or different data to complete a specific form. Recent court cases that impact the mortgage industry, such as Cuomo, Attorney General of New York v. Clearing House Association LLC et. al., are also included.

“MRG’s compliance updates are valuable to our organization because they keep us informed of statutory changes in each of the multiple states where we operate,” said Bill Fowler, vice president of Atlanta-based Crescent Mortgage. “The memos offer vital information that provide our account representatives with the latest changes to mortgage lending regulations so they can proactively share the information with other staff members and consumers.”

“Our origination and servicing clients use this information to make business decisions and to inform their departments about changes that are occurring in the mortgage industry,” said Laura LaRaia, an attorney and director of customer service at MRG. “We distribute the updates as the various federal and state laws become effective. Our goal is to release them about 30 days before the legislation goes into effect.”

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 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.

Media Coverage: "Abandoned and Vacant Property Registration" by Melanie Finkelstein in Managing REO

2009-07-28T12:30:00.003-05:00

Abandoned and Vacant Property Registration

By Melanie Finkelstein, Attorney, MRG

With the growing number of foreclosures throughout the county, many cities, both large and small, have enacted ordinances to combat the problem of abandoned, distressed and vacant property. The ordinances are designed to protect residential neighborhoods from becoming blighted through the absence of adequate maintenance and security and to prevent crime and vandalism.

To read the entire article, visit Managing REO's Web site.

Media Coverage: "Complying with Disclosure Changes by July 30 Deadline" by Marsha Williams in Mortgage Technology

2009-07-23T11:01:00.005-05:00

Complying with Disclosure Changes by July 30 Deadline

By Marsha Williams, Attorney, MRG

Regulation Z changes scheduled to take effect at the end of this month require disclosures for additional types of mortgage transactions and require waiting periods for a transaction to close. Since the deadline is quickly approaching, lenders must prepare for these changes now.

Regulation Z changes to implement the Mortgage Disclosure Improvement Act of 2008 (MDIA) become effective July 30, 2009, one year after MDIA was enacted. These regulatory changes expand provision of Truth in Lending (TIL) disclosures for mortgage transactions.

To read the entire article, visit Mortgage Technology's Web site.

Media Coverage: MRG's eConsent featured in Housing Wire

2009-07-20T15:03:00.004-05:00

MRG’s Electronic Disclosure Software Anticipates Truth-in-Lending Expansion

By Austin Kilgore

Dallas-based software developer MRG Document Technologies announced it upgraded its Web-based eConsent electronic disclosure delivery system to comply with the upcoming expansion of the federally mandated truth-in-lending disclosures.

The new regulations, which take effect July 30, require additional disclosures for refinanced mortgages and loans on dwellings other than a borrower’s primary residence.

To read the entire article, visit Housing Wire's Web site.

MRG’s eConsent Helps Lenders Quickly Comply with Regulation Z of Mortgage Disclosure Improvement Act

2009-07-20T08:00:00.000-05:00

DALLAS, July 20, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that its eConsent electronic disclosure delivery system is now available to help lenders comply with changes to Regulation Z that take effect July 30 to implement the Mortgage Disclosure Improvement Act of 2008 resulting in an expansion of the Truth in Lending (TIL) disclosures.

The new changes expand the scope of TIL disclosures for mortgage transactions to include the need for disclosures for refinances and for mortgage loans on dwellings other than borrower’s primary residence, in addition to the disclosures already required for purchase and initial construction loans.

Revised disclosures are required if the annual percentage rate (APR) changes to outside of the tolerance during the loan process. As a result of re-disclosure, lenders must delay closings for three additional days, for a total of six days, while they wait for borrowers to receive the revised disclosures. By using MRG’s eConsent, lenders have verifiable proof that borrowers received re-disclosures on the day they were delivered if the borrowers consent to the re-disclosure. MRG supplies the lenders with verifiable reports of when the borrower actually consented; this can shorten the disclosure delivery time, with closings occurring three days after delivery date instead of six.

“Speeding up the closing process is a benefit to both lenders and borrowers. For lenders, it locks in interest rates, prevents borrowers from switching to another lender and generates interest sooner,” said Marsha Williams, an attorney at MRG. “By delivering the revised disclosures electronically, borrowers close their loans sooner.”

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 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.

Media Coverage: MRG's HAMP Document Packages Featured in Housing Wire

2009-07-08T15:07:00.001-05:00

MRG Releases Loan Modification Packages

By Jon Prior

MRG Document Technologies, a technology vendor to mortgage originators, released document packages for lenders that comply with the Home Affordable Modification Program (HAMP) launched March 4.

HAMP is part of the Homeowner Affordability and Stability Plan (HASP), designed to aid at-risk US homeowners in modifying or refinancing mortgages originated on or before Jan. 1, 2009.

To read the entire article, visit Housing Wire's Web page.

MRG Offers Documentation Compliant with Home Affordable Modification Program (HAMP)

2009-07-08T08:00:00.001-05:00

DALLAS, July 8, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that it now offers mortgage servicers loan modification document packages that are compliant with the Home Affordable Modification Program (HAMP) that was created on March 4 as part of the Homeowner Affordability and Stability Plan (HASP) to help millions of distressed U.S. homeowners modify or refinance their mortgages to avoid foreclosure.

HAMP, effective March 4, 2009, to Dec. 31, 2012, for mortgages originated on or before Jan. 1, 2009, creates a modification process for loans through which borrowers who are in default, at risk of default or in foreclosure can have their loans modified to a more affordable monthly payment that is between 31 and 38 percent of their gross monthly income.

“As expected, the HAMP modification agreements are lengthy and require much more documentation than traditional modifications,” said Laura LaRaia, an attorney and director of customer service at MRG. “It has been our experience that the program has evolved over the last few months, and lenders need to continuously update their documents to maintain compliance. MRG’s staff of attorneys not only monitor the various regulatory and investor Web sites and update packages as needed, they also interpret how additional regulations affect the modification process now and going forward for our lending and servicing clients.”

Specifics of the loan modification program include:

* A 90-day trial period for borrowers before the modification takes effect
* Servicers or lenders providing borrowers with a two-step document process that includes one document that outlines the terms of the trial period and another that outlines the terms of the modification itself
* Borrowers must make three monthly payments at the modified payment amount and be current on the 90th day during the trial period, during which time servicers or lenders must treat this loan during the trial period as if it were in forbearance. The form for the HAMP trial period is a FNMA/FHLMC Uniform Instrument (Form 3156).
* At the end of the trial period, the borrower must complete step two of HAMP, the Home Affordable Modification Agreement (FNMA/FHLMC Form 3157).

In addition to meeting HAMP requirements, MRG also offers an array of other loan modification packages.

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 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.

Media Coverage: "The Lowdown on Loan Mods" by Melanie Finkelstein in DS News

2009-07-01T12:44:00.004-05:00

The Lowdown on Loan Mods

By Melanie Finkelstein, Attorney, MRG

With today’s economy causing a decrease in property values, loan modifications now outnumber refinances and have become the norm – whether under the Homeowner Affordability and Stability Plan or through a management program. In light of this upswing of loan mods, mortgage professionals need to keep the following tips in mind when creating loan modifications.

To read the entire article, visit DS News' Web site to become a subscriber.

Media Coverage: Executive Spotlight Interview with Laura LaRaia in Mortgage Technology

2009-06-19T10:56:00.006-05:00

Evaluating New Mortgage Regulation

Interview with Laura LaRaia, Attorney and Director of Customer Service, MRG

Is the new HVCC regulation working? What will RESPA Reform bring? Does the new White House really know what it’s doing in announcing its overhaul of regulating the financial sector? Laura LaRaia, an attorney for the legal team at Dallas-based MRG Document Technologies, talked to our editor Tony Garritano about these issues and others.

To read the entire article, visit Mortgage Technology's Web site.

Craig Kaley Joins MRG as Senior Technology Specialist

2009-06-15T14:32:00.000-05:00

DALLAS, June 15, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that Craig Kaley joins MRG as a senior technology specialist where he is responsible for both sales activities as well as developing and enhancing the architecture of MRG’s systems.

Kaley served as the vice president of development for an electronic document preparation services provider based in Colorado prior to joining MRG. He has also held solutions architect positions with communication and telecommunication companies and software engineer positions with a variety of business-to-business and consumer-facing organizations ranging from data back-up facilities to online gift registries.

“Craig brings a much appreciated technology perspective to our sales process,” said Michael Riddle, chairman of MRG. “His background in systems development enables him to thoroughly describe and answer lender questions about MRG’s document preparation systems. His experience on the customer side gives him insight into what features are most needed, useful and appealing to lenders that can be used on the product development side.”

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 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 http://www.mrgdocs.com/.

Media Coverage: Interview with Mike O'Leary in Mortgage Servicing News

2009-06-01T14:15:00.002-05:00

Servicers to Get $15B for Loan Mods

By Brian Collins

Washington-The Obama administration is moving quickly to launch its $75 billion loan modification program, allotting nearly $15 billion to 14 mortgage firms to cover incentive payments for them, investors and homeowners.

However, one analyst pointed out that the funding is by no means pure profit. "They will incur a great deal of costs to do these loan mods," said the analyst, requesting anonymity.

To read the entire article, visit Mortgage Servicing News' Web site.

Michael O’Leary Joins MRG as Senior Mortgage Consultant

2009-06-01T08:00:00.001-05:00

DALLAS, June 1, 2009 – MRG Document Technologies (MRG) (www.mrgdocs.com), a provider of mortgage technologies to banks, credit unions and other lenders, announced that Michael O’Leary joins MRG as a senior mortgage consultant. In this position, O’Leary guides the sales and alliance efforts of MRG.

O’Leary has more than 30 years of leadership experience in the mortgage and real estate technology industry. Prior to joining MRG, O’Leary’s previous experience included serving as the president of a national document preparation technology provider. He is also the past president of a holding company and a title company, both in the Denver area.

“Mike’s wealth of knowledge of the mortgage industry is an invaluable asset to MRG,” said Michael Riddle, chairman of MRG. “He works with lenders ranging from small credit unions to large national lenders to make sure all of their needs for legally compliant documentation, loan modifications, additional mortgage fraud prevention and electronic disclosure delivery are being met.”

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 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.

Media Coverage: Interview with Mike O'Leary in National Mortgage News

2009-04-27T14:37:00.001-05:00

Caution on Hiring

By Brian Collins

WASHINGTON-Big and small mortgage companies have seen huge increases in originations in the first quarter and some actually doubled their production thanks to the refinancing boom. But while Bank of America has announced a big hiring boost, other companies are being more cautious.

Bank of America and Wells Fargo reported huge increases in single-family originations as homeowners rushed to take advantage of low mortgage rates.

First-quarter originations totaled $101 billion according to Wells Fargo chief financial officer Howard Atkins. "Our mortgage originations doubled in the first quarter from the prior quarter, compared with an average increase of about half that among our large peers," Mr. Atkins told investors last week.

To read the entire article, visit National Mortgage News' Web site.

MRG Document Technologies Forms Alliance with Kroll Factual Data

2009-03-23T08:00:00.001-05:00

DALLAS, March 23, 2009 – MRG Document Technologies (MRG), a provider of mortgage technologies to banks, credit unions and other lenders, announced an alliance with Kroll Factual Data, a provider of business information solutions to financial organizations, to provide MRG clients access to three of Kroll Factual Data’s risk assessment services, FactualID, FullFacts and CollateralFacts.

These services assist MRG’s lenders in not only identifying potential fraudulent activity, but also with implementing their “Red Flags Rule” plans, the federally mandated identity theft prevention programs that lenders must have in place by May 1. Kroll Factual Data’s risk assessment services are available through MRG's electronic document preparation and compliance software, MIRACLE Online. Since they can be ordered from MIRACLE Online, no additional set-up is required.

“Kroll Factual Data's risk assessment services comprehensively identify borrower, collateral, participant and transactional misrepresentation by combining advanced, knowledge-based analytics with industry leading flexibility,“ said Jeff Gentry, vice president of Kroll Factual Data.

“Compliance with federal and state lending regulations is of utmost importance in today’s mortgage industry, and lenders need technology partners who can help them meet the demands of the changing regulatory landscape,” said Mike O’Leary, senior mortgage consultant with MRG. “Creating relationships such as this one with Kroll Factual Data provides our lenders with additional mortgage fraud protection without the need to manage additional vendor relationships.”

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 Kroll Factual Data

Kroll Factual Data is a leading provider of business information to mortgage lenders, consumer lenders, property management firms and other businesses. For more than 20 years, Kroll Factual Data has helped businesses make prompt, accurate decisions by combining innovative solutions with cutting-edge technology and industry-leading customer service. Kroll Factual Data is a subsidiary of Kroll, the world’s leading risk consulting company. Kroll is a subsidiary of Marsh & McLennan Companies, Inc. (NYSE: MMC), the global professional services firm. For more information, visit www.krollfactualdata.com.

About MRG Document Technologies

Since 1980, Dallas-based MRG Document Technologies (MRG) has provided a variety of mortgage technology products 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.

MRG Experiences Growth in 2008

2009-03-16T08:00:00.001-05:00

LAS VEGAS, March 16, 2009 – MRG Document Technologies (MRG), a provider of mortgage technologies to banks, credit unions and other lenders, announced that its client base increased by 30 new clients in 2008. In addition to growing its client base, MRG added the following enhancements to its services:

Enabled mortgage brokers and lending organizations to automatically upload documents to MRG for inclusion in document packages through the MIRACLE ONLINE document preparation system
Developed the one-time close construction/permanent closing documentation for both conventional and FHA residential loans
Launched eConsent for electronic initial disclosures
Offered initial disclosures to mortgage brokers in all 50 states
Enabled lenders to request modification agreements via the Internet through MIRACLE ONLINE

MRG also formed alliances with the following technology providers in 2008 to offer its clients additional benefits:

Integration with Lydian Data Services to extend MIRACLE ONLINE to Lydian Data Services’ origination fulfillment center customers
Integration with ComplianceEase to provide access to ComplianceEase’s automated compliance system, ComplianceAnalyzer®, through MIRACLE ONLINE

About MRG Document Technologies

Since 1980, Dallas-based MRG Document Technologies (MRG) has provided a variety of mortgage technology products 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.

Media Coverage: Interview with Mike O'Leary in National Mortgage News

2009-03-02T14:32:00.002-06:00

Doc Vendors Look to Differentiate

DALLAS-As the mortgage industry has returned to more conventional loan products, document preparation technology has increasingly become a commodity. Now these vendors are fighting back with new features to set themselves apart.

MRG Document Technologies here is a law practice group within Middleberg Riddle & Gianna. This law practice group was established to offer compliance and technology support for disclosure and documentation facing single-family mortgage lenders.

To read the entire article, visit National Mortgage News' Web site.

Media Coverage: "Overcoming Legal Roadblocks" by Laura LaRaia in Mortgage Technology

2009-03-01T10:38:00.007-06:00

Overcoming Legal Roadblocks

By Laura LaRaia, Attorney and Director of Customer Service, MRG

As mortgage fraud has grown in scope and cost - especially with the onset of technological advances - regulations have tightened and new state and federal laws have grown exponentially.

The most recent regulatory changes require all mortgage lenders to assume a greater responsibility in the fight against mortgage fraud. Lenders are forced into an unfamiliar role: one of having to police the problem.

To read the entire article, visit Mortgage Technology's Web site.

First Internet Bank of Indiana Selects MRG For Document Preparation Services

2009-01-06T08:00:00.000-06:00

DALLAS, Jan. 6, 2009 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced that First Internet Bank of Indiana, the first state-chartered, FDIC-insured institution to operate solely via the Internet, has selected MRG for its document preparation services.

The lender, based in Indianapolis, selected MRG for its compliance assurances and its ability to handle customizations for both open-end products like home equity loans and closed-end products like 30-year fixed rate mortgages. For example, MRG created an open-end set of closing documents for First Internet Bank of Indiana's home equity line of credit (HELOC) program, a fully indexed, 10-year draw with a 10-year repayment period.

“It was important for us to select a technology partner that enables us to maximize our lending reach without expanding our personnel footprint,” said Kevin Quinn, vice president of First Internet Bank of Indiana. “MRG also integrates well with our loan origination system so there is very little data for us to enter manually, which speeds up and simplifies the origination process.”

“Home equity lending laws vary more widely from state to state than closed-end mortgage lending requirements so it was important for First Internet Bank of Indiana to be fully compliant in this area before offering HELOCs nationwide,” said Terry King, group chairman of MRG. “MRG’s expertise in this area enabled First Internet Bank to immediately create a large footprint in home equity lending and maintain full legal compliance.”

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 First Internet Bank of Indiana

With over $520 million in assets, First Internet Bank of Indiana (First IB) is the first state-chartered, FDIC-insured institution to operate solely via the Internet and has customers in all 50 states. Deposit services include checking accounts, regular and money market savings accounts with industry-leading interest rates, CDs and IRAs. First IB also offers mortgages, credit cards, and installment loans. First IB is a wholly owned subsidiary of First Internet Bancorp (OTCBB: FIBP).

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.

Media Coverage: Interview in Mortgage Technology

2009-01-01T16:07:00.001-06:00

Doing More With Less

By Anthony Garritano

In the December 2008 issue of this publication, we reported that technology spending is expected to be at best flat in 2009 as compared to 2008, or at worst down by 10%. While those numbers seem bleak, lenders are still spending on technology, but they have to spend smarter and better utilize existing technology as well.

To read the entire article, visit Mortgage Technology's Web site.

Media Coverage: "The Ties That Bind Technology Providers Together" byline article in Mortgage Technology

2008-12-08T15:35:00.001-06:00

The Ties That Bind Technology Providers Together

By Terry King, Group Director, MRG

Individuals involved within the mortgage industry, especially technology and service providers, know that lenders are earnestly awaiting a reasonably priced end-to-end technology solution that covers all of their needs from origination to closing.

To read the entire article, visit Mortgage Technology's Web site.

MRG Employees Recognized for Leadership in Mortgage Industry

2008-11-03T08:00:00.001-06:00

DALLAS, Nov. 3, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced that Laura LaRaia and Marsha Williams were recognized at the 95th Annual Mortgage Bankers Association (MBA) Conference in San Francisco, Oct. 19-22, for completing the MBA’s Future Leaders Program and for receiving the Schumacher-Bolduc Award, respectively.

LaRaia was one of 16 individuals who graduated from the MBA's Future Leaders Program at this year’s MBA Annual conference. The goal of the program is to cultivate the next generation of mortgage industry leaders through a comprehensive leadership training experience. The curriculum focuses on leadership and business analysis skills that help candidates advance their careers in real estate finance. A graduate of the College of the Holy Cross and Loyola University's School of Law, LaRaia has been with MRG for 15 years and currently serves as the director of customer service for MRG.

Williams was awarded this year’s Schumacher-Bolduc Award. The honor is given to the Mortgage Bankers Association Political Action Committee (MORPAC) member who most exemplifies the dedication and hard work of Ernest P. Schumacher and Mark P. Bolduc. MORPAC staff and MBA senior management selected Williams because her efforts on behalf of the PAC were above the call of duty during the past year. She also received the Schumacher-Bolduc Award in 2004 and the State and Local MBA Service Award in 1996. In addition to currently serving as vice-chair of MORPAC and vice-chair of the Mortgage Action Alliance, Williams is a member of the MBA’s State Legislative and Regulatory Committee, which she previously chaired for two years, and the MBA’s Legal Issues and Regulatory Compliance Committee. She has also chaired the Education and the State and Local MBA Liaison committees for the MBA.

In addition, MRG’s Jared Ihrig gave a presentation on Identity Theft Red Flag Rule and Guidelines at the Texas Credit Union Real Estate Network’s Annual Mortgage Lending Symposium, held on Oct. 22. The group, comprised of state and federally chartered credit unions, selected Ihrig due to his regulatory compliance and mortgage lending expertise in the credit union industry. Prior to joining MRG’s National Mortgage Compliance Group, Ihrig served as assistant general counsel and director of compliance for one of the ten largest credit unions in the United States. A graduate of Oklahoma State University and Oklahoma City University School of Law, Ihrig is also a certified public accountant licensed in Texas and Oklahoma. Ihrig is a member of the MBA Legal Issues and Regulatory Compliance Committee and currently serves on the Government Relations, Regulatory Compliance and Future Mortgage Leaders committees of the Texas MBA, as well as the vice-president of programs for the Financial Institutions Legal Counsel Network of Dallas.

“Laura, Marsha and Jared exemplify the levels of leadership and legal expertise that are valued by the entire mortgage industry,” said Terry King, group chairman at MRG. “Not only are these individuals an asset to MRG, but to all of the lenders and consumers who use MRG for their document preparation.”

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 http://www.mrgdocs.com/.

Media Coverage: Interview with National Mortgage News

2008-10-27T15:16:00.006-05:00

MRG Adapting to Rapid Change

By James Comtois

DALLAS-The mortgage industry is seeing huge changes and as a result will have to make huge changes. With the banking industry in turmoil and compliance and fraud becoming increasingly crucial factors, the mortgage industry is seeing an "adapt or die" climate.

To read the enitre article, visit National Mortgage News's Web site.

MRG Supports Online Orders for Loan Modification Agreements

2008-10-19T08:00:00.002-05:00

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.

Media Coverage: MRG's Partnership with ComplianceEase Featured in Housing Wire

2008-10-17T15:12:00.005-05:00

MRG Partners with ComplianceEase

By Kelly Curran

MRG Document Technologies, a provider of compliance and documentation services, announced Friday 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.

To read the entire article, visit Housing Wire's Web site.

MRG Forms Alliance with ComplianceEase

2008-10-17T08:00:00.000-05:00

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.

Media Coverage: MRG's Loan Modification Documents Featured in National Mortgage News

2008-10-08T16:05:00.001-05:00

MRG Offers Online Access to Loan Mod Docs

By Amilda Dymi

Lenders using MRG Document Technologies' Miracle Online document preparation system now have the option to request document modification and loan modification agreements simply by accessing the Internet.

MRG will introduce the new feature - designed to help increase much-needed operational efficiency in times of crisis - at the MBA annual in San Francisco.

To read the entire article, visit National Mortgage News' Web site.

MRG Offers Initial Disclosures for Mortgage Brokers in 50 States

2008-09-16T08:00:00.000-05:00

DALLAS, Sept. 16, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced the ability to offer initial disclosures to mortgage brokers in all 50 states.

As state legislators throughout the country scrutinize their lending requirements and regulations in the wake of rising defaults and foreclosures, several new policies have been directed towards mortgage lenders and originators. Industry experts expect the trend of tightening regulations to continue, particularly for mortgage brokers.

In an effort to assist mortgage professionals with these new regulations, MRG's legal staff developed compliant broker disclosures for each state. These disclosures are available to the lending community via the Internet through MRG's MIRACLE ONLINE document preparation software. MRG’s eConsent solution enables originators to provide these state specific disclosures directly to consumers in an electronic format.

“During the past year, regulatory changes in states across the country have dramatically complicated the disclosure requirements for residential mortgages, especially for those originated by mortgage brokers,” said Terry King, group chairman of MRG. “Providing brokers and originators with online access to compliant disclosures is another way that MRG streamlines the documentation process for its customers.”

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.

Media Coverage: Case Study with Sydion Financial in National Mortgage News

2008-08-25T16:10:00.001-05:00

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.

MRG Launches Electronic Consent for Disclosures Product

2008-08-04T08:00:00.002-05:00

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.

MRG Named a Top 50 Service Provider by Mortgage Technology Magazine

2008-07-24T09:00:00.000-05:00

DALLAS, July 24, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced its inclusion in Mortgage Technology Magazine’s Top 50 Service Providers list for 2008.

To be considered for inclusion on the Mortgage Technology list of Top 50 Service Providers, vendors must meet four major criteria: demonstrate customer satisfaction, offer technology with advanced functionality and have a strong market presence and viable revenue model.

The doc prep provider is in its 28th year of service in the mortgage industry and is currently running the 12th version of its doc prep software, Miracle DocPrep©, a Windows-based software package that provides automated data entry, document selection and electronic delivery of loan documents for mortgage brokers and lenders.

Since its founding, MRG has grown from eight customers to more than 350. The specific needs of these lenders are met through customized document packages, designed by in-house legal professionals and IT specialists. MRG’s pricing for services is transaction and loan based.

The company’s document preparation solution, Miracle DocPrep, is fully browser-based enabling users to access all software components through standard Internet browser applications that do not require installation or the use of specialized software or hardware.

“Collectively the companies listed in Mortgage Technology Magazine’s Top 50 Service Providers offer many valuable lessons on how to be successful in the long term,” said Terry King, group chairman of MRG. “Inclusion on the list allows many business leaders within the mortgage industry to reflect on how they got to where they are, and helps set a new standard for where they need to be next year.”

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.

Media Coverage: Interview in Mortgage Technology

2008-07-01T16:14:00.001-05:00

Zipping Up Integrations Tighter

By Anthony Garritano

The old best-of-breed vs. end-to-end debate is quickly fading. Technology advances around XML, Web services and data standardization through MISMO make it easier for vendors to more tightly integrate. The tighter the integration, the more value for the end user.

The days of the loan origination system trying to build everything in a proprietary fashion or force users to deal with preferred integration partners are over.

To read the entire article, visit Mortgage Technology's Web site.

Bank of New England Selects MRG For Document Preparation Services

2008-06-25T09:00:00.000-05:00

DALLAS, June 25, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced that Bank of New England, a Salem, N.H.- based bank providing financial and lending services throughout central and southern New Hampshire, the Merrimack Valley and the greater Boston area, has selected MRG for its document preparation services.

The lender selected MRG in May 2008 for its strength in compliance systems and for its access to compliance attorneys for legal services. MRG also provides Bank of New England with warranties and representations on all closing document packages, which are fully backed by errors and omissions coverage.

“Bank of New England is entering the mortgage business at a time when many other lenders are getting out, and we wanted to have the most efficient processes and technologies in place in order to capitalize on the changing mortgage landscape,” said Michael Gillis, vice president of Bank of New England. “ We highly value MRG’s guaranteed state compliance for origination disclosures and closing packages because while we currently lend in multiple states, we intend to grow into new ones in the future.”

"We encourage lenders to speak with MRG’s existing clients to find out how our document preparation services are a good fit for their organizations,” said Terry King, group chairman of MRG. “After speaking with another area lender, Bank of New England decided that using MRG’s products to simplify and improve the lending process can help it secure a prominent place in today’s residential mortgage industry.”

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 Bank of New England

Headquartered in Salem, N.H., Bank of New England, formerly known as Southern New Hampshire Bank and Trust, operates five bank branches in New Hampshire and three additional bank branches in Massachusetts. Established in 1995 by its Chairman Emeritus Bill DeLuca Jr. and Chairman of the Board Bill DeLuca III, the bank has focused primarily on commercial lending and has a loan portfolio comprised primarily of commercial real estate investment and construction mortgages. For more information about Bank of New England visit, www.snhb.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.

Media Coverage: "Change Leaves Lenders Longing for an End-to-End System" byline article in Mortgage Technology

2008-06-24T14:29:00.001-05:00

Change Leaves Lenders Longing for an End-to-End System

By Terry King, Group Director, MRG Document Technologies

Change. Politicians spout it. Songwriters romanticize it. The mortgage industry struggles with it.

Recent months have ushered in big changes in the mortgage industry: lowered loan-to-value ratios, more stringent underwriting requirements, tougher fraud prevention, increased focus on the FHA market, a return to fixed rate products and the demise of formerly popular exotic products such as I/O ARMs and HELOCs.

To read the entire article, visit Mortgage Technology's Web site.

Media Coverage: "Top 50 Servicer Provider" in Mortgage Technology

2008-06-15T14:10:00.001-05:00

Top 50 Service Providers

By Anthony Garritano

Presenting this year's best and brightest mortgage technology providers.

This list has gone through several changes over the past few years. For example, we originally honored 100 providers, but have recently sliced that down to just 50 in order to reflect the deep industry consolidation. As lenders look increasingly for one end-to-end solution, technology providers have merged or acquired niche players to offer a variety of services or technology applications under one company name.

To read the entire article, visit Mortgage Technology's Web site.

1-800 East West Mortgage Selects MRG For Document Preparation Services

2008-06-05T09:00:00.001-05:00

DALLAS, June 5, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced that 1-800 East West Mortgage, a Marlborough, Mass.-based lender that originates loans for borrowers throughout New England and Florida, recently selected MRG for its document preparation services.

1-800 East West Mortgage uses disclosure documents and compliance packages through MRG’s Miracle Online browser-based system for its array of loan products including mortgages, refinances and its expedited 14-day mortgage closing.

“MRG alleviates the headaches related to document compliance for us. They handle compliance responsibilities for us so that we no longer have to go through the time or expense of purchasing our own document licensing for each closing package we put together,” said David Bernotas, president and CEO of 1-800 East West Mortgage. “I have worked with MRG for about five years, and I selected the company for 1-800 East West Mortgage because of its representations and warranties and its compatibility with our origination system.”

“We are pleased to provide 1-800 East West Mortgage with documentation and compliance support that has been customized to facilitate and enhance its origination process,” 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 provides a variety of delivery options for document packages using e-mail and Web site delivery.

About 1-800 East West Mortgage

Founded in 1988 and based in Marlborough, Mass., 1-800 East West Mortgage is wholly owned by Worcester, Mass.-based Commerce Bank. The company offers various programs and products to meet the needs of its borrowers throughout New England and Florida. For more information, visit www.eastwestmortgage.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.

First Houston Mortgage Selects MRG For Document Preparation Services

2008-05-12T09:00:00.003-05:00

DALLAS, May 12, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced that First Houston Mortgage, a mortgage-banking firm licensed in 18 states that offers expertise in every aspect of the residential mortgage lending process, has selected MRG for its emphasis on compliance in the document preparation, management and closing processes.

“MRG’s ability to embed intelligent bar codes on individual pages of the loan documents ensures that closing packages are image-ready,” said David Zugheri, president of First Houston. “As First Houston begins offering eMortgages to consumers, MRG’s ability to support eMortgage originations is crucial to our future in the eLending space.”

“In addition to being a technically savvy lender, First Houston also focuses much of its attention on maintaining compliance with all lending regulations,” said Terry King, group chairman of MRG. “Our technology enables lenders like First Houston to produce cost-effective, fully compliant loans more efficiently.”

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 First Houston Mortgage, Ltd.

First Houston Mortgage (Houston) offers a wide variety of lending products and expertise for all areas of the residential mortgage lending industry. Innovative technologies enable the company to maintain a completely in-house origination process, thus reducing costs and improving efficiencies. For more information, visit www.firsthouston.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.

MRG Forms Alliance with Lydian Data Services for Outsourcing Origination Fulfillment

2008-04-23T09:00:00.000-05:00

DALLAS, April 23, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced an alliance with Boca Raton, Fla.-based Lydian Data Services, a leading provider of end-to-end outsourcing services for all aspects of the mortgage operation, from origination to delivery and post-closing quality control.

The alliance enables MRG to extend its Miracle document preparation system to Lydian Data Services’ origination fulfillment center customers, who use Lydian’s outsource capabilities to supplement or replace their own internal processes, thereby controlling fixed costs while maintaining or raising output quality. Through a custom interface created by MRG, Lydian Data Services’ customers now have immediate access to MRG’s Miracle up-front and interim disclosures and closing documentation through the Lydian Exchange Network (LXⁿ), Lydian’s networking platform uniting lenders and industry service providers.

This alliance comes at an especially appropriate time, according to Brian K. Fitzpatrick, executive vice president of Lydian Data Services. “Right now, nothing is more important than loan quality and investor confidence,” he said. “Our view is that outsourcing the fulfillment of loans to Lydian is not only about reducing the internal fixed costs associated with processing, closing and delivering loans; but also about enterprise risk management and setting controls that drive a best practices-based, standardized, repeatable process. Together, Lydian and MRG deliver the process and compliant documents our clients need to produce high quality, investment grade assets.”

“By using MRG’s customizable document preparation packages and Lydian Data Services’ turnkey fulfillment capabilities, lenders can streamline their origination processes while maintaining full compliance with state and federal regulations,” said Terry King, group chairman of MRG. “The alliance between our companies is important because it simplifies and expedites the delivery of loan products and outsources much of the compliance burden for Lydian Data Services customers.”

MRG also 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 provides a variety of delivery options for document packages using e-mail and Web site delivery.

About Lydian Data Services

Lydian Data Services, a wholly owned subsidiary of Lydian Trust Company and the parent company to Lydian Technology Group (www.LydianTechnology.com), provides end-to-end outsourcing and a la carte services to manage or enhance all aspects of the mortgage operation for money center and community banks, credit unions, mortgage banking entities and premier investment banks. Through its award-winning, open-architecture platform, and industry-proven “best practices” fulfillment services, Lydian Data Services improves its clients' operational efficiencies, risk management and service delivery. The company has focused expertise in post-closing, quality control auditing services, correspondent loan acquisition services, origination fulfillment services (including wholesale and retail processing), and bulk due diligence. Lydian Data Services is a central clearinghouse and standard for high quality mortgage transaction processing and fulfillment solutions for leading lenders and investors within the mortgage industry. Lydian has been awarded the Ernst & Young Florida "Entrepreneur of the Year ® " award for Financial Services, has been repeatedly ranked one of the fastest-growing private companies on the Inc. 500, and was the top ranking financial services company to be recognized on the InfoWorld 100 list of the "Most Technologically Innovative Companies in the World." For more information, visit www.lydiandata.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.

MRG Enhances MIRACLE ONLINE DocPrep System to Meet New Requirements

2008-04-07T09:00:00.003-05:00

DALLAS, April 7, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced enhancements to its MIRACLE ONLINE document preparation systems that enable mortgage brokers and lenders to meet new compliance requirements.

Enhancements added to meet specific state regulations include the following:

California: MRG provides a completed document to satisfy the California Department of Corporations' requirement to supply a Nontraditional Lending Disclosure when a loan is considered a nontraditional product. When the property is located in California and the selected product is either an interest-only or option/negative amortization adjusted rate mortgage, a new screen titled “CA additional programs" is available for users to select up to ten additional loan programs offered by the lender. Additional programs are used to calculate values that populate the disclosure included in the document package. MRG's system calculates results using the lender's products and terms as specified in MIRACLE and as required by the regulation. The document is not static and does not include predetermined products and calculations.

Maine: MIRACLE now includes a screen for completion of the Maine Reasonable, Net Tangible Benefit Disclosure. For refinance transactions in Maine, lenders can complete the disclosure on the “related lien” screen.

“As states announce new lending regulations to reflect current market conditions, MRG’s systems continue to evolve,” said Terry King, group Chairman of MRG. “MRG understands that mortgage brokers and lenders require customizable tools that fit their current loan products and comply with state requirements and borrowers' needs, and we provide a flexible system to meet those requirements.”

MRG offers a 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

MRG Offers Electronic Disclosures

2008-03-17T09:00:00.005-05:00

DALLAS, March 17, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announces at MBA’s National Technology in Mortgage Banking Conference & Expo 2008 (Booth 313), the ability to send disclosures to its customers in an electronic format.

MRG can now route eDisclosure documents that are secure, electronically signable and fully compliant with all federal and state regulations. Borrowers can then review the documents, acknowledge their acceptance and execute the document package online. The lender receives an electronic copy file of the transaction for their records. Documents from outside sources, such as lender and investor documents, can easily be added and merged into disclosure packages.

“With eDisclosures, lenders and borrowers can complete the entire mortgage transaction in fast and efficient manner,” said Terry King, group chairman of MRG. “Borrowers can sign documents electronically as an alternative to the traditional mailing of printed disclosure packages, which expedites the origination process and compliments paperless originations.”

MRG offers a system for the preparation and delivery of compliant document packages 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 the 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.

MRG Offers One-Time Close Construction/Permanent Loan Closing Documentation

2008-03-04T09:00:00.003-06:00

DALLAS, March 4, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced the development of one-time close construction/permanent closing documentation for both conventional and FHA residential loans.

This one-time close documentation is available for both traditional construction as well as manufactured housing construction for all 50 states. MRG's in-house compliance attorneys developed the document packages with the consultation of local attorneys for each specific state jurisdiction. As a result, each one-time close document set is in full compliance with all federal and state lending requirements.

“MRG is committed to providing the most profitable tools for lenders during the current market conditions,” said Terry King, group Chairman of MRG, “One time close construction /permanent products represent a very profitable segment of the market within the mortgage industry. We are pleased to offer these products to our customers.”

MRG offers a 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 the document packages using e-mail and Web site delivery.

About MRG Document Technologies

Weststar Mortgage Selects MRG For Document Preparation Services

2008-02-27T09:00:00.005-06:00

DALLAS, Feb. 27, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced that Weststar Mortgage Corp.,
an Albuquerque, N.M. – based direct lender that specializes in financing and purchasing non-conventional loans, has selected MRG to provide support for its one time close construction-to-permanent transactions.

Weststar Mortgage needed a loan document provider that could customize documents for residential home loans and direct system interfaces with existing origination software.

“We selected MRG for their ability to quickly provide customized loan documents readily available in all 50 states,” said Ryan Grandi, vice president of Weststar Mortgage, “We also value the ability for seamless integration between MRG’s software and our own.”

“Our products simplify and improve the lending process through documents that are customized to the clients’ specific needs and compliant with the latest regulations,” said Terry King, group chairman of MRG.

MRG offers a 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 professional and IT specialists. MRG also offers a variety of delivery options for the document packages using e-mail and Web site delivery.

About Weststar Mortgage

Weststar Mortgage is a direct lender specializing in financing and purchasing non-conventional loans where common sense underwriting, transaction speed and structure flexibility helps clients meet their unique financing needs. The Albuquerque, N.M. – based company was founded in 1983. Additional information about Weststar Mortgage can be found at http://www.westloan.com/.

About MRG Document Technologies

MRG Hires Attorney Jared Ihrig

2008-02-04T09:00:00.002-06:00

DALLAS, Feb. 4, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced attorney Jared Ihrig has joined MRG’s legal team. Ihrig’s primary responsibility is regulatory compliance in the company’s Mortgage Banking Legal Department.

Prior to joining MRG, Ihrig was a compliance officer for an international corporate credit union in Fort Worth, Texas, where he was responsible for ensuring compliance with all federal and state lending rules and regulations. Other duties included monitoring regulatory issues and implementing new policies and procedures related to federal and state regulations. A graduate of both Okalahoma State University and the Oklahoma City University School of Law, Ihrig is also a certified public accountant.

“Jared’s legal experience, combined with his lending and accounting background, makes him a vital asset to MRG,” said Terry King, group chairman of MRG. “With the changing legal landscape of the mortgage industry today, compliance continues to be a major issue for our company and our clients.”

About MRG Document Technologies

MRG Adds Automated Attachment Feature to MIRACLE ONLINE DocPrep System

2008-01-21T09:00:00.003-06:00

DALLAS, Jan. 21, 2007 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced an enhancement to its MIRACLE ONLINE document preparation systems that enables mortgage brokers and lenders to automatically upload documents to MRG for inclusion in document packages.

By including loan origination system and lender produced documents, such as the Unified Residential Loan Application (Form 1003), with their MRG document package requests, lenders can electronically add and transmit all documents to designated parties in a single, secure, complete and convenient PDF package.

“Enabling our lenders to customize their packages by attaching their own documents enhances the origination process by making it faster and easier,” said Terry King, group chairman of MRG. “We are offering this innovation to the document request process to enable our customers to become more productive and efficient in 2008.”

MRG offers a system for the preparation and delivery of compliant document packages 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 the document packages using e-mail and Web site delivery technology.

About MRG Document Technologies

Dallas-based MRG Document Technologies is the mortgage document practice group within Middleberg Riddle & Gianna, among the most capable and experienced mortgage regulatory law firms in the United States. The Document Technologies group designs, maintains, and warrants as compliant, electronic disclosure and closing documents for the mortgage industry. Founded in 1980, MRG has more than 350 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to the efficient delivery of more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

MRG and Encomia Form Alliance

2008-01-07T16:18:00.003-06:00

DALLAS, Jan. 7, 2008 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced an alliance with Houston -based Encomia, a provider of end-to-end eMortgage technology.

The partnership enables MRG to expand its offering of disclosures to its customers in an electronic format. MRG can now route the documents through Encomia eDisclosures, which converts the file to secure, electronically signable documents, compliant with federal and state regulations. Borrowers can then review the documents, acknowledge their acceptance, and execute the package online. The lender receives an electronic copy file of the transaction for their records.

“In today’s lending environment, customers are consistently asking how they can provide compliant documents faster and more efficiently to the borrower,” said Terry King, group chairman of MRG. “In response to their request, we chose Encomia to partner with in order to provide customers with eDisclosures, enabling borrowers to sign documents electronically as an alternative to the traditional mailing of large printed disclosure packages.”

“Access to eDisclosures helps lenders and borrowers complete the mortgage process in a fast and efficient manner,” said Drew Krieger, COO of Encomia. “With eDisclosures, MRG and Encomia help lenders come one step closer to providing a paperless mortgage."

MRG offers a system for the preparation and delivery of compliant document packages 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 the document packages using e-mail and Web site delivery.

Encomia provides an integrated solution to the electronic mortgage process. The company’s scalable, Web-based applications, including online Disclosures, SMART Doc conversion, Web-based eSign, and an eVault, enable lenders to quickly become eSign and eMortgage ready.

About Encomia

Houston-based Encomia enables mortgage lenders to more cost-effectively and efficiently originate mortgage loans by enabling lenders to process mortgage loans electronically, from end-to-end, on a large-scale basis, regardless of document format. The company’s Encomia eMortgage Solution provides financial institutions with a comprehensive tool kit for full eMortgage including the creation of SMART Docs, electronic signature capability and secure document archival. Encomia’s solutions are compatible with a number of third-party technologies, are adaptable to institutional standards and can be implemented in a manner that allows for gradual eMortgage adoption. To learn more about Encomia, its products and services, please contact Brian Davenport, senior vice president of sales at info@encomia.com or visit the company’s Web site at http://www.encomia.com/.

About MRG Document Technologies

Dallas-based MRG Document Technologies is the mortgage document practice group within Middleberg Riddle & Gianna, among the most capable and experienced mortgage regulatory law firms in the U.S. The Document Technologies group designs, maintains, and warrants as compliant, electronic disclosure and closing documents for the mortgage industry. Founded in 1980, MRG has more than 350 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to the efficient delivery of more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

Media Coverage: Interview in National Mortgage News

2008-01-07T13:43:00.003-06:00

2008 to Be the Year of the Easy Mortgage

By Anthony Garritano

Steve Mase, president of origination vendor Dexma, told our sister publication Mortgage Technology that the industry will adopt the electronic mortgage when people stop calling it the electronic mortgage. What every lender is essentially looking for is a way to make the process truly easy, and the way to get to the easy mortgage is surely to automate.

To read the entire article, visit National Mortgage News' Web site.

MRG Now Providing Modification Agreements to Loan Documents

2007-12-17T10:03:00.000-06:00

DALLAS, Dec. 17, 2007 – MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced it also is supporting modification agreements as part of its loan document library.

These modified agreements enable lenders to be in compliance with evolving state and federal regulations and gives them the flexibility to restructure terms and conditions to keep borrowers in their homes. MRG’s most common modifications include changes to note and security agreement rates and terms, but also can include ancillary services that combine disclosures and recording documents.

“Market conditions are forcing lenders to rethink existing loan agreements in order to reduce foreclosures and cope with ever-changing state and federal regulations. To help meet this demand, MRG now provides the capability to order and receive modification agreements through its Miracle DocPrep software package,” said Terry King, group chairman of MRG. “In addition, we provide access to our legal staff for our customers to further enhance their ability to fully stay in compliance.”

MRG offers a system for the preparation and delivery of compliant document packages 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 the document packages using e-mail and Web site delivery.

About MRG Document Technologies

Dallas-based MRG Document Technologies is the mortgage document practice group within Middleberg Riddle & Gianna, among the most capable and experienced mortgage regulatory law firms in the United States. The document technologies group designs, maintains, and warrants as compliant, electronic disclosure and closing documents for the mortgage industry. Founded in 1980, MRG has more than 350 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to the efficient delivery of more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

MRG’s Miracle DocPrep Used by 1,250th Subscriber

2007-11-14T08:39:00.001-06:00

DALLAS, Nov. 14, 2007 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced that its Miracle DocPrep product has reached a milestone of 1,250 subscribers.

MRG’s Miracle DocPrep is a Web-based electronic system that provides users with automated data entry, document selection and electronic delivery of compliant mortgage loan documents. The technology offered by MRG provides a system for the preparation and delivery of document packages nationwide.

These packages are customized, designed by in-house legal professionals and IT specialists and meet the specific needs of individual lenders. Additionally, they can be delivered by a variety options including e-mail and Web site delivery.
There are currently four versions of Miracle offered by MRG. Miracle Online is a Web-based program that accelerates the user’s internal loan closing processes. Miracle Express provides a fully integrated and customized data exchange for documents to be completely automated and outsourced. Miracle Encounter provides non-automated user environments with sophisticated document solutions with advanced technological expertise. Miracle Custom Products allows users to adapt their products to different document types, printing requirements and viewing capabilities.

“Through the more than 25 years of service, Miracle DocPrep has consistently provided our customers with a cost-effective, time-efficient system to manage the production of mortgage closing documents,” said Terry King, group chairman of MRG. “MRG was able to reach this milestone by making sure our document production processes always mirrored the trends within the mortgage industry, such as HELOCs and the more recent eMortgage.”

About MRG Document Technologies

Dallas-based MRG Document Technologies is the mortgage document practice group within Middleberg Riddle & Gianna, among the most capable and experienced mortgage regulatory law firms in the U.S. The Document Technologies group designs, maintains, and warrants as compliant, electronic disclosure and closing documents for the mortgage industry. Founded in 1980, MRG has more than 350 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to the efficient delivery of more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

Media Coverage: Interview with Mortgage Servicing News

2007-11-01T14:36:00.000-05:00

Servicers Fear MBS Lawsuits

By Brian Collins

WASHINGTON -- Fear and doubt seems to be impeding mass restructurings of problem mortgages as servicers are wary of being sued by investors holding mortgage-backed securities.

The Bush administration, federal regulators, mortgage industry leaders and consumer advocates are encouraging servicers to develop loan modification programs to stem rising foreclosures due to risky adjustable-rate mortgages.

Subprime defaults and foreclosures are already at record highs and many are concerned that a wave of resets on two million subprime ARMs over the next 18 months could really create a crisis.

To read the entire article, visit Mortgage Servicing News' Web site.

Media Coverage: Interview in National Mortgage News

2007-10-15T14:39:00.000-05:00

Executives Say Firms Could Do More to Avoid Assignee Liability

By Brian Collins

WASHINGTON -- Mortgage investors and securitizers could do a much better job of protecting themselves from assignee liability and the Federal Housing Administration is making a big mistake in pushing for risk-based pricing.

Those were just some of the observations that four industry experts shared with National Mortgage News in a discussion of current industry trends and issues.

These experts are top executives at QuestSoft Corp., Mavent Inc., MRG Document Technologies Inc. and Netupdate that provide services to mortgage lenders and servicers.

To read the entire article, visit National Mortgage News' Web site.

Media Coverage: Case Study with Irwin Home Equity in National Mortgage News

2007-10-01T14:41:00.002-05:00

Flexibility Is Key to Choosing a Doc Provider

By Anthony Garritano

DALLAS -- As investor requirements adjust and loan products roll back to more conventional paper, lenders need a flexible and fast document provider to keep them agile.

"We realized that we needed to partner with a special doc company that would specialize in all the states that we serve, which is 46 states in the country," said John Olano, vice president of loan production, correspondent lending from Irwin Home Equity.

To read the entire article, visist National Mortgage News' Web site.

Ohio Catholic Federal Credit Union selects MRG for Closing Packages and Disclosures

2007-09-25T10:30:00.000-05:00

DALLAS, September 25, 2007 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced that Ohio Catholic Federal Credit Union (Garfield Heights, Ohio), a faith-based credit union, has selected MRG for its document preparation, closing and upfront disclosure packages.

Ohio Catholic Federal Credit Union submits requests and receives disclosure documents and compliance packages through MRG’s Miracle Online browser-based system. Miracle Online provides automated data entry, document selection and electronic delivery of fully compliance-monitored loan documents for customers at any given time or place.

“MRG helps us meet compliance standards for our loan documents, enabling us to focus on bringing quality loan products and services to our members,” said Jim McTighe, mortgage department manager, of Ohio Catholic Federal Credit Union.

“On top of MRG’s Miracle Online document delivery system, our in-house legal team provides customers with the legal and compliance advice,” said Terry King, group chairman of MRG. “Through Miracle Online, customers like Ohio Catholic Federal Credit Union can spend less time tracking regulations to remain compliant and more time focusing on enhancing their member service.”

MRG’s technology offers a system for the preparation and delivery of document packages 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 the document packages using e-mail and Web site delivery.

About Ohio Catholic Federal Credit Union

Garfield Heights, Ohio-based Ohio Catholic Federal Credit Union is a faith based, full-service financial institution chartered to and committed to serving students, employees and parishioners of the Catholic Diocese of Cleveland, and their families. Ohio Catholic is currently the largest faith-based financial institution in the state of Ohio with over 17,500 loyal members and approximately $124 million in assets.

About MRG Document Technologies

Dallas-based MRG Document Technologies is the mortgage document practice group within Middleberg Riddle & Gianna, among the most capable and experienced mortgage regulatory law firms in the U.S. The Document Technologies group designs, maintains, and warrants as compliant, electronic disclosure and closing documents for the mortgage industry. Founded in 1980, MRG has more than 350 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to the efficient delivery of more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

Media Coverage: "Understanding The E-Mortgage" byline article in Mortgage Technology

2007-08-01T14:48:00.002-05:00

Understanding The E-Mortgage

By Terry King

At a recent lending conference I had the opportunity to participate in a discussion about e-mortgages. Several points became evident during the discussion and are worthy of being shared with the entire lending community.

First, the mortgage industry is moving closer to making the e-mortgage mainstream and reducing the industry's dependency on paper documents. Second, the technology exists to make it happen now.

To read the entire article, visit Mortgage Technology's Web site.

MRG Selected by Sydion Financial for Document Preparation and Delivery

2007-07-30T10:31:00.000-05:00

DALLAS, July 30, 2007 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced that Sydion Financial, a wholesale mortgage banker, has selected MRG for its efficient document preparation, management and delivery services associated with the closing process.

Seattle, Wash.-based Sydion Financial is utilizing MRG’s disclosure documents and compliance packages through the company’s Miracle Online browser-based system. The program provides automated data entry, document selection and electronic delivery for customers at any time from any location. Miracle Online documents are specifically formatted to each lender, maintaining full compliance with all federal and regional guidelines.

Sydion Financial is also implementing technology solutions from MRG strategic partner Portellus, Inc. for its loan origination, underwriting and secondary marketing efforts. Installed solutions include Portellus’ LOS, Enterprise Rules Management (ERM) system, Integration Services Hub (PIXMO) and Broker Portal.

“We selected MRG for the company’s ability to provide us quick and seamless data integration with our current LOS,” said Spencer Richardson, CEO, of Sydion Financial. “MRG can help us reach our goal of straight through processing (STP), offering us an efficient document preparation and delivery method.”

“Miracle Online is designed to provide fully compliance-monitored mortgage loan documents that can easily be used with prominent LOS systems,” said Terry King, group chairman of MRG. “Our technology allows customers like Sydion to spend less time on integration to produce cost-effective, quality loans at a much faster rate.”

MRG’s technology offers a system for the preparation and delivery of document packages 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 the document packages using e-mail and Web site delivery.

About Sydion Financial

Seattle, Wash.-based Sydion Financial is a newly-formed wholesale mortgage banker using leading technology solutions to ensure the straight through processing of loans. Services include originating, underwriting and selling loans to various markets, including conforming, non-prime and Alt-A. For more information about Sydion Financial, visit www.sydion.com.

About MRG Document Technologies

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

Media Coverage: Interview in Mortgage Technology

2007-06-28T14:57:00.001-05:00

Combining Daily Guideline Updates and Compliant Docs

By James Comtois, Online Reporter

With loan products changing daily, it is important for mortgage lenders to be able to quickly find, price, originate and close loans with updated, accurate information.

To read the entire article, visit Mortgage Technology's Web site.

MRG Manager Awarded the Certified Mortgage Technologist Designation By Mortgage Bankers Association

2007-04-17T10:28:00.000-05:00

DALLAS, April 17, 2007 – MRG Document Technologies (MRG), a leader in document preparation and compliance in the mortgage industry, announced that Brian Nuckels, the company’s client connectivity manager, was awarded with the Certified Mortgage Technologist (CMT) designation, given by Mortgage Bankers Association (MBA).

Nuckels, a seven-year veteran in the mortgage industry, received the designation along with 19 other professionals for their high achievement in technology. Candidates considered for the award must have a minimum of two years industry experience, have a technology background and be in a technology leadership position within the residential or commercial real estate finance industry.

In Nuckels’ current position, his responsibilities include collaborating with customers to develop requirements for connectivity and security considerations, data exchange formats and custom software interfaces. Nuckels’ previous positions include software engineer for both MRG and another software development company.

“We encourage our employees to better themselves from both a personal and professional standpoint,” said Terry King, group chairman of MRG. “With Brian’s CMT designation, we are able to support both the MBA and demonstrate our commitment to serving our clients.”
About MRG

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to comply with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

Media Coverage: Interview in Mortgage Technology

2007-04-05T14:59:00.001-05:00

Can Technology Ease Defaults?

By Anthony Garritano

Grim news came from the Mortgage Bankers Association a month ago when the institution reported on one of the most striking indicators of weakening housing conditions yet, as the rate of loans entering foreclosure reached a record high in the fourth quarter of 2006. Specifically, the rate of home loans entering foreclosure rose to 0.54% in the fourth quarter of last year, a record for the MBA's 35-year-old National Delinquency Survey.

To read the entire article, visit Mortgage Technology's Web site.

MRG Selected by Greenlight Financial to Provide Document Preparation Services

2007-03-26T09:53:00.001-05:00

DALLAS, MARCH 26, 2007 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced at the MBA’s National Technology in Mortgage Banking Conference and Expo, that Greenlight Financial, an Irvine, Calif. mortgage lender, has selected MRG to provide compliance documents, disclosures and closing document packages for its lending products.

Greenlight Financial selected MRG based on its needs for a loan document provider that could provide advanced customization capabilities, direct system interfaces with custom edits and granular level imaging support.

“As our company continues to grow, we have a need for a great deal of flexibility on the part of MRG in terms of customizations,” said Joann Pham, C.E.O., of Greenlight Financial. “We also value the fact that MRG’s in-house legal team acts as a partner that enables us to avoid becoming entangled in complicated compliance issues.”

“MRG helps shoulder some of the compliance burden that slows down lenders like Greenlight Financial,” said Terry King, group chairman of MRG. “We also merge our loan document customization capabilities with the legal expertise of our staff to offer a practical, competitive solution that helps control costs and improve and expedite the document ordering and delivery process.”

MRG’s technology solutions offer a system for the preparation and delivery of document packages 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 the document packages using e-mail and Web site delivery.

About Greenlight Financial

Greenlight Financial Services (www.greenlightloans.com) is a direct-to-consumer mortgage lender originating first and second mortgages and home equity lines of credit. Founded in 2001, Greenlight Financial Services is headquartered in Irvine, California.

About MRG Document Technologies

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes.
For more information about MRG, visit www.mrgdocs.com.

Media Coverage: "Viewpoint: How Outsourcing Can Help" byline in Origination News

2007-02-01T15:07:00.001-06:00

Viewpoint: How Outsourcing Can Help

By Terry King

Mr. King, group chairman of MRG Document Technologies, Dallas, has written an opinion piece on what he sees as the benefits of outsourcing. His thoughts on the topic are presented as this month's Viewpoint.

Two years ago, at the height of the refinance boom, lenders were focused on processing heavy loan volumes, which stretched their capacity but proved to be incredibly profitable.

To read the entire article, visit Origination News' Web site.

Media Coverage: Updates to Miracle Featured in Origination News

2007-02-01T14:53:00.001-06:00

MRG Releases Updated Doc Preparation Solution

By Jennifer Harmon

DALLAS -- MRG Document Technologies here, a provider of document preparation services for the financial industry, is releasing Miracle Online version 7.0, the next generation of its browser-based document preparation system.

The revamp of Miracle Online features more user-friendly screens and dynamic interactive forms, according to the company.

To read the entire article, visit Origination News' Web site.

MRG Introduces New Version of its Mortgage Document Preparation Platform

2007-01-08T10:05:00.001-06:00

DALLAS, Jan. 8, 2007 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announces the release of Miracle Online version 7.0, the next generation of its browser-based document preparation system.

The revamp of Miracle Online, which accelerates the lender’s closing process by providing LOS data integration, program customization, investor-specific document formatting and compliance editing, features more user-friendly screens and dynamic interactive forms.

The new enhancements include:

Better Validation and Error Correction. Fields with errors are now highlighted and the “pop-up” error alerts have been replaced with two new enhancements that identify and resolve errors, the Errors Screen and the Loan Wizard.

Improved Program Management. A new program type field permits users to filter down a list of available loan programs and individual product codes.

Enhanced Upfront Disclosure and Good Faith Estimate Processing. Users that depend on MRG for upfront disclosures can identify parameters of GFE use within the organization. GFE only users then just see screens pertinent to their tasks. The new "Order GFE Packages" screen also permits multiple disclosures to be ordered for loans where data entry has already been completed.

“Miracle Online 7.0 provides improved user-friendly features and functions for lenders and provides them with a more streamlined integrated process for ordering and receiving customized loan documents,” said Terry King, group chairman of MRG. “Through version 7.0, the process is now faster and easier, which helps everyone in the document receiving chain.”

MRG prepares fully customizable loan closing documents and forms for use throughout the United States through its interfaced system. Designed by legal professionals and IT specialists, loan applicants and lenders benefit from the immediate and cost effective customization of the documents to each lender’s specific mortgage documentation needs.

About MRG Document Technologies

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

ProLender Solutions, Inc. Integrates LOS with MRG’s DocPrep Platform

2006-10-02T11:11:00.001-05:00

DALLAS, Oct. 2, 2006 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced its partnership with ProLender Solutions, Inc. (San Diego) to streamline the loan closing process.

The alliance links ProLender Solution Inc.’s LOS, ProLender, with MRG’s Miracle DocPrep platform and fully automates the ordering of loan closing documents. The interface developed by ProLender is a comprehensive “push-button” system that compiles loan data and directly links to the MRG server, which yields a faster closing process. When users of ProLender request loan closing documents through the automated interface, the information is transferred to MRG and the document packages are prepared and sent to the user. Due to the automated link of the direct interface, all ProLender customers now have access to the MRG system.

“Our partnership with MRG allows ProLender to give users another option in efficient loan closing services,” said Kevin Roczey, president of ProLender Solutions, Inc. “The alliance enables our clients to move loans through the closing process with a cost-efficient, state-of-the-art system.”

“Through our alliance, ProLender customers are offered an integrated data exchange that is customized to the individual needs of the lender,” said Terry King, group chairman of MRG. “Lenders now have an additional tool for closing documents that helps enhance their competitiveness.”

MRG prepares fully customizable loan closing documents and forms for use throughout the United States through its interfaced system. Designed by legal professionals and IT specialists, loan applicants and lenders benefit from the immediate and cost-effective customization of the documents to each lender’s specific mortgage documentation needs.

About ProLender Solutions, Inc.

Headquartered in San Diego, California, ProLender Solutions Inc. specializes in providing software solutions for the mortgage lending industry. The company’s flagship product, ProLender, is an affordable alternative to spreadsheets and manual systems as well as expensive legacy systems. The ProLender system incorporates all of the lending functions into one workflow system with built-in business rules that streamlines the mortgage lending process, allowing lenders to close more loans faster. For more information please visit our Website at www.prolender.com.

About MRG Document Technologies

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

MRG joins MERS® 1-2-3 Family of Document Preparation Providers

2006-08-15T11:06:00.001-05:00

DALLAS, August 15, 2006 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced its Miracle Online, an ASP-based software package that provides automated data entry, document selection and electronic delivery of loan documents for mortgage lenders, is now available to users through a direct interface with MERS® 1-2-3.

The new interface between MERS 1-2-3 and MRG provides correspondent lenders and brokers the option to select Miracle Online when generating a Mortgage Identification Number (MIN) and MERS as Original Mortgagee (MOM) documents.

“Incorporating MRG’s Miracle Online solution into the family of MERS 1-2-3 document providers gives our users another practical solution for creating fully customizable loan closing documents,” said Dan McLaughlin, executive vice president of MERS. “This initiative offers additional options that can help our members more efficiently move their loans through the closing process.”

MERS® 1-2-3 is a system used by both MERS members and non-members alike to develop closing packages and valid assignments to MERS for loans that do not designate MERS as the original mortgagee. The system also helps MERS members convert correspondents and brokers into MERS Ready trading partners.

“This interface enables us to provide an enhanced level of document preparation services to the MERS community,” said Terry King, group chairman of MRG. “By combining MERS 1-2-3 with our own Miracle Online, correspondent lenders and brokers now have a single source for generating MINs, registering loans on MERS and ordering fully compliant loan closing documents.”

MRG provides document preparation services throughout the country with a variety of secure delivery options. MRG’s forms and documents offer fully customizable interfaced systems and real-time automated compliance testing. Lenders benefit from the increased flexibility because the documents are designed by MRG’s staff of legal professionals and IT specialists and allow quick, cost-effective customization to meet each lender’s specific mortgage documentation needs. MRG document preparation services are also available through Byte Classic, Byte Software’s previous LOS system.

About MERS

MERS is an electronic loan registry created by the real estate finance industry to eliminate assignments when trading mortgage loans. Borrowers name MERS as mortgagee and nominee for the lender on deeds of trust and mortgages that are recorded in the county land records. Lenders then register the loans on the MERS® System and electronically track changes in servicing and beneficial ownership rights over the life of the loan.

Loans registered with MERS are inoculated against future assignments because MERS remains the mortgagee of record no matter how often servicing is traded between MERS members. Fannie Mae, Freddie Mac, VA, FHA, Ginnie Mae, the Federal Home Loan Bank MPF®, California and New York housing authorities, and all major Wall Street rating agencies have approved MERS.

About MRG Document Technologies

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

MRG and Dynatek Form Partnership

2006-07-11T11:02:00.001-05:00

DALLAS, July 11, 2006 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced the integration of its Miracle Online, an ASP-based software package that provides automated data entry, document selection and electronic delivery of loan documents for mortgage brokers and lenders, with Dynatek’s MORvision™ loan origination software.

The partnership streamlines the loan origination process by automating the ordering of loan closing documents. Dynatek’s customers can now seamlessly access Miracle Online through MORvision, where they request and receive loan closing documents.

“The alliance with MRG expands Dynatek’s growing Plug-In Partner Network to total 119connections and provides additional options for our lenders who use document preparation,” said Todd Luhtanen, president and CTO of Dynatek. “These lenders now have a direct link with their loan document preparation service provider, which will speed up their origination process and make it more efficient.”

“This alliance provides our mutual customers with an integrated data exchange that enhances their competitiveness,” said Terry King, group chairman of MRG. “By accessing Miracle Online, participating lenders have one-stop and seamless access to document design, preparation, compliance and delivery services.”

MRG prepares loan closing documents and forms for use throughout the U.S. that are fully customizable interfaced systems. Designed by legal professionals and IT specialists, lenders and loan applicants benefit from the quick and cost-effective customization of the documents to each lender’s specific mortgage documentation needs.

MORvision is Dynatek’s suite of mortgage automation software that seamlessly integrates with multiple service providers via their award-winning Plug-In technology. The company currently boasts nearly 120 Plug-Ins in 16 categories on their Plug-In Partner Network, which gives Dynatek customers a variety of choices to meet their origination needs, and provides for a smooth and simplified lending experience.

About Dynatek

Founded in 1986 and headquartered in Livonia, Mich., Dynatek has been revolutionizing mortgage automation for retail and wholesale lenders for two decades. Dynatek’s MORvision is a flexible solution that automates everything from point-of-sale and web origination through processing, underwriting, closing, secondary tracking and delivery. Dynatek is attributed with a long list of industry innovations including their award-winning Plug-In Partner Network and unique Control Center, which offers capabilities for eMortgage, business process management, and multi-client support. With Dynatek’s complete mortgage software solution and multi-faceted approach to customer service, the company has earned numerous industry commendations and the respect of hundreds of full-service financial institutions across the nation. For more information on Dynatek or to schedule a live demonstration, call 800.462.5545 or log on to www.dynatek.com.

About MRG Document Technologies

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to be in compliance with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

MRG Promotes Darci Johnson to Director of Marketing and Sales Support

2006-06-15T10:58:00.001-05:00

DALLAS, June 15, 2006 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced today the promotion of Darci Johnson to the position of director of marketing and sales support.

In her new capacity, Johnson is responsible for coordinating national marketing and sales efforts for MRG’s online Miracle product, which is used in the preparation of loan closing documents, and assisting in the development of MRG’s strategic marketing plans. She also manages communication between regional account executives and MRG’s centralized Installation and Training group located in Dallas.

Johnson previously served as MRG’s New England area marketing representative where she established and maintained business relationships with customers in the region and represented MRG at trade shows and user conferences. Before her move to New England, Johnson worked for more than four years in MRG’s Dallas office in the marketing and human resources departments.

“MRG’s ability to meet our customers’ demands for cost-effective mortgage technology is contingent upon having employees like Darci,” said Terry King, group chairman of MRG. “She has been an invaluable asset to MRG for many years now because she has the knowledge and background that benefit our customers.”

Designed by legal professionals and IT specialists, MRG’s documents and forms can be quickly and cost-effectively customized to each lender’s specific mortgage documentation needs. MRG’s technology solutions also offer an easy way to prepare and deliver the document packages via e-mail or through the company’s Web site.

About MRG

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to comply with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

MRG Utilizes Southwestern Bell’s Data Center to Further Enhance

2006-04-26T10:42:00.001-05:00

DALLAS, April 26, 2006 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced it has completed the movement of all primary data and information systems to AT&T’s Internet data center in Dallas, Texas.

MRG selected AT&T’s IDC facility to further enhance the level of security for the company’s data and proprietary information, which is used in the preparation of loan closing documents. The facility houses MRG’s production Web applications, database servers and network equipment; provides 24 hour security and enables MRG to further insure uninterrupted service to lending customers. The AT&T site has been audited and certified as SAS 70 Type 2 compliant by a major national auditing firm.

“AT&T’s facility is one of the leading co-location facilities for the protection and management of proprietary information in the country,” said Terry King, group chairman of MRG. “Using the data center enables us to better serve our customers’ interests as it relates to security and continuity, and allows us to maintain our focus on providing doc prep services more efficiently.”

MRG is continuing to utilize their existing secondary data center as an additional site within MRG’s disaster recovery schema.

MRG’s core product, Miracle DocPrep, interfaces with all major front-end systems, providing LOS export and import connectivity, and can be accessed 24/7. A variety of optional document delivery methods are supported including e-mail, Internet, Web site download, as well as custom point-to-point connectivity.

MRG’s customizable document packages fit the needs of each individual lender and support all products including A-paper, sub-prime, option ARM lending programs and HELOCs. Custom correspondent lender programs are also supported throughout the country.

About MRG

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 150 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to comply with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

Media Coverage: Interview in Mortgage Technology

2006-04-13T15:14:00.002-05:00

Companies Create E-Mortgage Chain

By James Comtois

As part of mutual goals to make the mortgage lending industry a more paperless and electronic environment, as well as to prepare lenders for such an environment, three companies -- an Irving, Texas-based document systems and services provider, a Dallas-based designer of specialized documentation systems for mortgage lenders and a Vernon, Texas-based provider of electronic notarization, signing and closing -- have teamed up to offer mortgage lenders their combined services in one comprehensive package.

To read the entire article, visit Mortgage Technology's Web site.

2006-03-29T10:50:00.000-06:00

SAN DIEGO, March 29, 2006 – MRG Document Technologies (MRG), a provider of document preparation services for the financial industry, announced today at the MBA National Technology Annual Conference and Expo the unveiling of a new browser-based version of its Miracle DocPrep© software, which provides automated data entry, document selection, and electronic delivery of loan documents for mortgage brokers and lenders.

The browser-based Miracle DocPrep speeds up the delivery and simplifies the document-ordering process by providing automated data entry, document selection and electronic delivery nationwide. Browser-based Miracle DocPrep works seamlessly in small to mid-sized lending environments, especially those supporting out-of-the-office associates, since it allows access to the loan platform and documents from any location. Some of the most advanced features include multiple user-friendly fields on the fee and FACT Act disclosure screens, the ability to modify sections of the closing instructions, and the capability for new customers to immediately begin drawing document packages.

“This browser-based version of our Miracle DocPrep makes it easy for correspondent lenders and brokers to secure lender-specific programs and packages through our point-and-click program tables. There is no more maintenance of investor forms, products, and programs. We maintain all of this, allowing the originator to concentrate on originating the loan,” said Terry King, group chairman of MRG. “Consequently, this product truly makes a user’s business procedures easier, quicker and more profitable.”

Miracle DocPrep interfaces with all major front-end systems, providing LOS export and import connectivity, and can be accessed 24/7. A variety of optional document delivery methods are supported including e-mail, Internet, Web site download, as well as custom point-to-point connectivity.

MRG’s customizable document packages fit the needs of each individual lender, support all products including A-paper, sub-prime, option ARM lending programs and HELOCs. Custom correspondent lender programs are also supported throughout the country.

About MRG Document Technologies

Dallas-based MRG Document Technologies designs, maintains and warrants as compliant, electronic documents for the mortgage industry. Founded in 1980, the company has more than 400 customers including lenders of all sizes, located nationwide. With more than 135 employees, MRG is dedicated to bringing more than 3,000 lender-specific forms and documents, guaranteed to comply with the most recent legislative and regulatory changes. For more information about MRG, visit www.mrgdocs.com.

Media Coverage: Interview with Origination News

2006-02-01T15:29:00.001-06:00

MRG Finds Document Services Becoming Popular

By Amilda Dymi

DALLAS -- As mortgage volumes continue to dwindle down, MRG Document Technologies here is focusing on how to best respond to what is renewed demand for document outsourcing options to help lower operation costs.

"Document services are becoming more in demand right now mainly as a result of the downturn in production of the refinance boom that we saw two to three years ago. So outsourcing is becoming more and more popular during this slowdown market," said Terry King, MRG group chairman.

To read the entire article, visit Origination News' Web site.