WKFS Steps Up Loan Mod Work.

Minneapolis -- Wolters Kluwer Financial Services, a provider of compliance and workflow tools, is expanding its services to support loan modification and workouts for the mortgage industry.

In January, the company started working with LoanResolve.com to help lenders and distressed borrowers avoid foreclosure. Under the partnership, Wolters Kluwer will provide regulatory compliance support to LoanResolve, which guides borrowers to potential workout solutions online. In the case of a loan modification, LoanResolve can produce documents to meet lender requirements through Desert Document Services, a Wolters Kluwer platform.

Wolters Kluwer offers servicers a set of standard but customizable loan modification documents and packages that are compliant with investor requirements.

Jason Marx, vice president and general manager at Wolters Kluwer Financial Services, said the company is getting more deeply involved in the loan modification process because of demand in the marketplace.

"Clearly, with what is going on in the marketplace today, there is a need for servicers to deal with the capacity issues they have," he told Mortgage Servicing News.

Wolters Kluwer can help servicers speed up the process by delivering documents immediately, with the capacity for borrowers to use electronic notification and signatures to express consent. And Wolters Kluwer already has deep penetration within the mortgage company. The company's customer base includes 70% of the top mortgage originators and 80% of banks in the U.S. use some Wolters Kluwer product.

Mr. Marx describes Wolters Kluwer's loan modification support as a turnkey solution that supports ...