First Internet Bank of Indiana, the first state-chartered, Federal Deposit Insurance Corp.-insured institution to operate solely via the Internet, has selected MRG Document Technologies 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, MRG says.
‘It was important for us to select a technology partner that enables us to maximize our lending reach without expanding our personnel footprint,’ says 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.’
MRG Group Chairman Terry King says the variability of state laws concerning home equity lending warrants full compliance from the bank as it begins offering home equity lines of credit.
‘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,’ King notes.
SOURCE: MRG Document Technologies