Wolters Kluwer Helps Servicers Meet Making Home Affordable Requirements

Minneapolis-based ""Wolters Kluwer Financial Services"":http://www.wolterskluwerfs.com announced on Thursday that it has enhanced the company’s suite of mortgage compliance documentation solutions to help financial institutions participate in the Treasury Department’s new Making Home Affordable program. The suite includes a complete library of compliance documents, disclosures, and consumer education materials that the company says will help institutions rapidly comply with the program's requirements.
The Treasury introduced the Making Home Affordable Program in March, encouraging institutions to refinance mortgages for distressed borrowers and offering institutions financial incentives for modifying loans based on a borrower’s ability to repay. The program increases the government funding commitment to Fannie Mae and Freddie Mac to help promote stability and liquidity in the mortgage market. It also updates the Federal Housing Administration’s (FHA’s) Hope for Homeowners (H4H) program, providing plans to ease restrictions to encourage servicers to utilize the program.
Through its enhanced suite of solutions, Wolters Kluwer Financial Services says it can help institutions start offering loans through the Making Home Affordable Program very quickly. More specifically, lenders and servicers can leverage the company’s mortgage compliance documentation solutions to begin participating in the FHA’s updated H4H program; Fannie Mae’s Refi Plus/DU Refi Plus, Home Affordable and standard modification programs; and Freddie Mac’s Relief Refinance, Home Affordable and standard modification programs.
In addition, Wolters Kluwer Financial Services will begin offering institutions a free ""Making Home Affordable webinar"":https://www302.livemeeting.com/lrs/0000012523/Registration.aspxxpageName=m01s15w0tflvckq9 on Tuesday, April 21. Through the webinar, the company’s regulatory compliance and loss mitigation experts will explain the program’s key components. They will also illustrate how the company's line of mortgage compliance documentation solutions can help institutions more efficiently meet program requirements.
Jason Marx, VP and general manager of the mortgage division at Wolters Kluwer Financial Services, said, ""Over the last 12 months, lenders have experienced unprecedented change in the markets and a rapidly evolving and complex regulatory environment. Wolters Kluwer Financial Services has helped financial institutions quickly and successfully adapt to changing regulatory requirements for decades.""
Marx added, ""By drawing upon our strong compliance experience and regulatory expertise, we can help institutions make the loan modification and refinancing processes faster and remove risk through our compliance documents, borrower disclosures and secure delivery solutions.""