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Understanding The News: Companies Link To Ensure Compliance

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*Companies Link To Ensure Compliance*
**Xerox Looks To Compliance Experts**

***Got compliance on your mind? Most lenders do. It’s a tough market from a regulatory standpoint and it’s going to get tougher. That’s why proactive vendors are stepping up to provide education and technology to help lenders keep compliant. Along these lines, Xerox Mortgage Services has some big plans. Here’s the scoop:

****MRG Document Technologies, a document preparation software and compliance technology, and Georgia-based Xerox Mortgage Services are combining their experience and expertise for an educational webinar that will provide lenders valuable insight into the ever changing regulatory challenges facing the market, and innovative approaches to overcoming them.

****Doing “business as usual” is no longer the answer for lenders who are looking to effectively deal with extremely complex regulatory requirements. The time to move the industry forward is now. Many lenders are unsure of how these changes will affect their business and what steps they need to take. To that end, they are turning to technology to support compliance and eliminate risks.

****The “Supporting Compliance Throughout the Loan Lifecycle” webinar, which will take place on Tuesday, May 15, 2012, at 1:30 pm EDT, will highlight the current state of the regulatory environment and what integrated partners are doing to assist the lending community. Discussion will focus on the importance of change and collaboration and how current rules and regulations are impacting lending.

****“The benefit of this collaborative, educational webinar is to assure the marketplace that their concerns are being heard and addressed by the vendor community – action is being taken,” said Kathleen Mantych, senior marketing director, MRG Document Technologies. “In this session, we’ll provide lenders with a “real world” view on the industry landscape and how collaboration between vendors combats the risk of non-compliance, state audits and potentially dramatic fines.”

****“Lenders can better support compliance when they have easier access to their data. Solutions such as MRG Document Technologies’ dynamic forms help lenders quickly adapt to new regulations and work more accurately as a result,” said Nancy Alley, vice president and general manager, Xerox Mortgage Services. “This webinar is an example of the benefit lenders gain from the BlitzDocs network, which consists of industry leading companies who have extensive expertise in their respective specialties.”

****MRG Document Technologies current collaboration with Xerox Mortgage Services enables their dynamic forms to be seamlessly passed into BlitzDocs for intelligent collaboration.

****Also, Medallion Analytics, a mortgage technology company that provides compliance and control across the entire loan origination process, announced that its Medallion QC Audit solution is now integrated with Xerox Mortgage Services’ BlitzDocs intelligent collaborative network.

****BlitzDocs simplifies and accelerates the loan process by connecting participants so they can electronically collaborate. By adding Medallion’s QC Audit tool, BlitzDocs users will benefit from an automated quality control check, including a complete audit report within minutes – eliminating the need for manual review of each element and cutting loan processing time even further.

****“The combined capabilities of Medallion’s and Xerox Mortgage Services’ technologies demonstrate the power of next generation paperless mortgage processing, driving down cost and processing time, while dramatically enhancing quality and compliance,” said Joel Davidson, CEO of Medallion Analytics. “With Medallion’s unique ability to extract and analyze content from mortgage documents and convert it into usable data, not just images, Medallion gives loan originators a breakthrough solution to automate the entire pre- and post-close loan origination audit process.”

****Using Medallion’s technology, lenders can spot data integrity and compliance issues in real time, eliminating costly errors of manual review, while embracing evolving regulatory requirements — enabling loans to be processed dramatically faster for borrowers.

****“In today’s stringent environment, lenders need faster, easier ways to maintain accuracy and transparency of the data,” said Nancy Alley, vice president and general manager, Xerox Mortgage Services. “With the addition of Medallion QC Audit, Xerox Mortgage Services continues to improve the paperless mortgage process and provide additional compliance safeguards to our BlitzDocs users.”

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