MRG Document Technologies (MRG), a provider of mortgage document preparation and compliance technology, has been named a RegulatorConnect Certified Partner by ComplianceEase, which means that lenders can use the company's solutions to prepare loan data for industry standard electronic submission to state regulators for examinations.
MRG's Miracle Online was certified by ComplianceEase due to its examination data export functionality and its integration with ComplianceEase's ComplianceAnalyzer product, which enables the electronic transfer of compliance audits to state regulators.
The examination automation initiative was developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators in order to bring greater uniformity and modernization to the mortgage examination process. The regulators established the Nationwide Cooperative Agreement for Mortgage Supervision, enabling states to share information and coordinate the supervision of lenders.
Under the guidelines, examiners are moving from sample-based audits to looking at 100% of an originator's production. ComplianceEase was chosen as the technology provider for the project, in part, because of its ability to provide technology to automate the testing of loans for compliance.
SOURCE: MRG Document Technologies