Solution Helps Reduce Risk, Improve Understanding of Compliance and Increase Speed-to-Market
Wolters Kluwer Financial Services announced today the company has enhanced its StateLink® compliance research tool to help mortgage lenders stay another step ahead of the onslaught of impending state and federal regulatory change. StateLink is part of Wolters Kluwer Financial Services’ comprehensive suite of Residential Lending Solutions that includes documents and disclosures; document preparation and e-delivery software; compliance analytics; settlement services; regulatory consulting; training and online learning; and complete business process outsourcing.
StateLink provides lenders with updated mortgage regulatory information at the federal level and for all 51 U.S. jurisdictions in an easy-to use, web-based format. Wolters Kluwer Financial Services has enhanced the tool to allow lenders to rapidly navigate samples of the company’s entire library of more than 6,000 VMP® Mortgage Solutions documents, trusted by the industry for more than 40 years. In doing so, lenders are better able to quickly and easily determine how and when origination and closing documents need to be updated in response to thousands of upcoming state and federal rule changes. Lenders who purchase and use VMP documents can also be confident Wolters Kluwer Financial Services will make the changes to their documents before effective compliance dates.
More than 6,000 pieces of state and federal legislation relevant to the U.S. banking and mortgage industries were enacted in 2011. Many of the rules will take effect in 2012, adding to lenders and servicers’ existing compliance burdens that grow heavier by the day. That’s according to Wolters Kluwer Financial Services’ extensive staff of more than 400 in-house experts that include former regulators and compliance officers, risk analysts, lawyers and financial industry specialists. They embed their knowledge and expertise in every one of the company’s solutions to help financial organizations manage their risk and compliance needs more effectively.
“At a time when lenders are faced with an avalanche of new regulations, tougher enforcement and increasing financial pressure, they need to be confident that they have the proper tools to manage change,” said Jason Marx, vice president and general manager of the company’s Residential and Indirect Lending businesses. “StateLink is designed to help lenders reduce risk, improve their understanding of document compliance and its real-world implications, and increase speed-to-market. All of this helps them grow their revenues while maintaining adherence to a rapidly-changing regulatory landscape.”