Lenders Can Request Workout Modifications Electronically Through
MIRACLE ONLINE
SAN FRANCISCO--(Business Wire)--
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.
MRG Document Technologies
Sarah Cannon, 678-781-7216
Copyright Business Wire 2008
