Minneapolis-based ""Wolters Kluwer Financial Services"":http://www.bankerssystems.com/ and Columbia, South Carolina-based ""Avista Solutions"":http://www.avistasolutions.com/ have[IMAGE]
formed a new partnership, under which the companies have integrated Wolters Kluwer Financial Services' Expere Integrated Enterprise (Expere IE) solution with the Avista Agile Loan Origination System.
As a result of this integration, Avista Agile users will now have automatic and seamless electronic access to Wolters Kluwer Financial Services' VMP Mortgage Solutions compliance documents and disclosures through Expere IE. According to the companies, banks, credit unions, and mortgage lenders have relied upon these warranted loan documents to help meet all state and federal regulatory requirements for nearly four decades.
""By partnering with Wolters Kluwer Financial Services and its Expere IE solution, we're helping Avista Agile users minimize regulatory compliance risks while lowering their origination costs through a faster, more streamlined documentation process,"" said Mark Phlieger, CEO of Avista Solutions. ""We're also helping to enhance their borrowers'
[COLUMN_BREAK]lending experience by getting them to the closing table and into new homes more quickly.""
Working with the Avista Agile system, Expere IE utilizes its comprehensive compliance knowledgebase to help lenders create documents on demand, Wolters Kluwer Financial Services said. According to the company, each of these documents is specific to the mortgage transaction and jurisdiction in which it takes place, as well as lenders' individual business rules and policies.
Wolters Kluwer Financial Services said it updates the Expere IE knowledgebase to incorporate new regulatory changes as they occur, and these updates are then incorporated into Avista's system to ensure documents remain compliant and consistent. The companies said the result for the lender using the system is greater flexibility, efficiency, and a single source of updated and warranted compliance content.
Through Wolters Kluwer Financial Services' Secure Document Exchange service, Expere IE can also securely and electronically deliver document packages on behalf of Avista's lender to their borrowers, who can then offer electronic approval. This, the company said, helps lenders realize considerable time and cost savings through reduced printing, handling, and mailing costs versus the traditional manual, labor-intensive, paper-based process.
""Expere IE combines enabling technology and compliance expertise to ensure consistent, compliant documentation can be seamlessly generated from within the Agile system,"" said Jason Marx, VP and GM of mortgage at Wolters Kluwer Financial Services. ""Our new alliance with Avista will allow us to help even more institutions successfully and compliantly grow their lending businesses.""