Minneapolis-based Wolters Kluwer Financial Services has announced that CompliSource, the company's Web-based regulatory research tool for residential and indirect lenders, has been updated to include foreclosure compliance summaries.
According to the company, mortgage lenders and servicers utilizing CompliSource can now access explanations of state-specific foreclosure laws in all 51 U.S jurisdictions. CompliSource can be utilized alone or as a complement to Wolters Kluwer Financial Services' foreclosure services that include compliance and delivery solutions for notices of default, affidavits and state-registration and regulatory consulting services.
‘The sheer amount of new foreclosure-related legislation can be overwhelming for mortgage servicers,’ says Jason Marx, vice president and general manager of Wolters Kluwer Financial Services' residential and indirect lending business lines. ‘Because our regulatory and risk management experts continually update the solution, servicers can be confident they always have access to the most up-to-date information.’