MRG Document Technologies (MRG) has integrated its MIRACLE Online electronic document preparation system with Southfield, Mich.-based Mortgage Builder's loan origination software (LOS).
For lenders operating in several states, closing document packages must be prepared by a licensed attorney. Through the integration, loan data can now be imported directly from the Mortgage Builder LOS into MIRACLE Online, where MRG's in-house staff of attorneys creates the content for the closing packages, the companies explain. This automation alleviates the risk of inaccuracy that can develop with the manual re-keying of data, says Kathleen Mantych, senior marketing director for MRG.
"Data such as escrow setup, title insurance premiums and county tax stamps can easily be misread and re-entered into the system incorrectly," Mantych says. "Direct export from the LOS into MIRACLE Online is especially beneficial for those lenders producing loans in states that require attorneys to prepare closing packages, because it cuts a step out of the process.’