MRG Offers Online Access to Loan Mod Docs.(Special Report)(MRG Document Technologies)

Byline: Amilda Dymi

Dallas, TX-Lenders using MRG Document Technologies' Miracle Online document preparation system now have the option to request document modification and loan modification agreements simply by accessing the Internet.

MRG will introduce the new feature - designed to help increase much-needed operational efficiency in times of crisis - at the MBA annual in San Francisco.

"Providing originators with the ability to restructure terms and conditions is a necessary function in light of the current lending climate," said MRG group chairman, Terry King. "Having instant access to loan modification agreements is another step MRG is making toward making the documentation aspect of lending as streamlined as possible."

MRG's Miracle Online, which has been in use for years, is continuously updated to best serve market demand.

The new online package closing option allows lenders to instantly engage in a workout situation by making necessary changes to the various documents that are part of the mortgage loan package.

According to MRG, users typically make changes to note and security agreement rates and terms, in addition to ancillary services that combine disclosures and recording documents.