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March 21, 2008
Wolters Kluwer Financial Services Introduces New Doc Solution
Wolters Kluwer Financial Services has launched a new mortgage document solution, the Wolters Kluwer Financial Services Simplified Mortgage to help lenders and borrowers make the closing process for first-mortgage and home-equity loans simpler while complying with all federal and state regulatory requirements.
Through a U.S. patent-pending business process, the current recordable mortgage document is split into two content pieces: The first piece is a two- to three-page recordable instrument that contains all information required to create a valid lien and fully comply with the recording requirements of each state. The second piece is a non-recordable supplement that outlines a loan's standard covenants between the lender and borrower.
Posted by S. Germain at March 21, 2008 08:19 AM