Following the recent enhancements to the federal government's HOPE for Homeowners (H4H) program, Minneapolis-based ""Wolters Kluwer Financial Services"":http://www.wolterskluwerfs.com/index.html has updated its comprehensive library of H4H mortgage documents and consumer education materials.[IMAGE]
According to Wolters Kluwer, HUD's enhanced program includes several provisions meant to increase lender and[COLUMN_BREAK]
borrower participation, including reduced program fees, streamlined borrower certification requirements, and underwriting guidelines more consistent with standard Federal Housing Administration lending practices. The program now also provides greater incentive payment for originators and servicers.
The company's newly-updated documents can be used by lenders and servicers as a resource to more efficiently refinance troubled borrowers' existing mortgages into more affordable loans in compliance with H4H program. In addition, members of the Wolters Kluwer's compliance management services team, which includes experienced attorneys, compliance analysts, and regulatory analysts, can help educate an institution's staff on H4H program requirements through tailored training programs.
""By drawing upon our nearly 40 years' of mortgage industry experience and strong regulatory expertise, Wolters Kluwer Financial Services will continue to work with lenders and servicers to make the H4H refinance process faster and more efficient,"" said Jason Marx, VP and general manager of mortgage for the company.