Custom Products

Modifications from MRG Doc Tech

MRG offers a sophisticated array of robust solutions for the complex issues surrounding your loan modification requirements. We have the technology and the compliance system skills needed to design, implement and manage successful modification programs and modification process workflows.

ModTrac

Our integrated workflow management, tracking and documentation software can fully automate the most demanding modification processes, taking initial decisioning data and moving it through all of your customized modifications steps. These can include ordering and evaluating title, communicating with your borrower, electronically delivering appropriately selected documentation, delivering documents via overnight mail, securing electronic or "wet ink" signatures and managing recordation and return of documents when necessary. State-of-the art dashboard tracking and reporting provide full management visibility to all of the steps in the workflow, all in a fully real-time and interactive online application.

  ModTrac

Modification Packages

Generating truly custom modification packages begins with the forms. Our unique combination of compliance skills and cutting edge technology can quickly equip any lender with the ability to adjust and modify individual loans or large blocks of loans in your portfolio. We maintain documents and systems to effect a variety of modification types, including:

  • ARM to fixed rate
  • Fixed rate with a temporary or permanent interest rate reduction
  • Pay option ARM to fixed rate
  • Pay option ARM to regular ARM
  • ARM with first change date extension
  • HELOC to fixed rate second lien

Modification package preparation can involve multiple elements:

  • Is a Truth in Lending Disclosure Statement required? If so, it is included at no cost.
  • What other documents need to be included in the package? All are included at no cost.
  • Is there a cover letter and what information is required? If so, it will be designed and included without any additional charge.

Once you decide on the format and content of the documents, and the package content is established, the data elements required to complete the forms will be determined and the resulting modification packages will be transmitted electronically, with all electronic security requirements included, in an agreed format between the lender and MRG. If manual data entry is required, the method by which the required information is received will be determined and a process established.

There are multiple delivery options for executable documents, including electronic delivery with eConsent by your borrower.