MRG Document Technologies, a provider of compliance and documentation services for the financial industry, says that 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, the company notes. Modifications made by MRG users typically include changes to note and security agreement rates and terms.
Source: MRG
