MARK YOUR CALENDAR
Visit us at the MBA’s National Technology in Mortgage Banking Conference & Expo, March 29 to April 1, 2006, at the San Diego Convention Center.
Stop by Booth 413 to learn about the latest in compliance and technology solutions, including:
- VMP® X4
- SDX Secure Document Exchange
- Bilingual documents
- CompliSource
- PCi
- Expere Integrated Enterprise
Wolters Kluwer Financial Services is a proud sponsor of the Business Communication Center.
BILINGUAL FORMS INCREASE IN POPULARITY
Hispanic consumers in Florida and New York have a new option on the horizon. Recently, Eastern Financial Florida Credit Union and Home Funding Finders (in New York) announced they will soon provide bilingual mortgage forms and educational materials.
These forms—developed by Wolters Kluwer Financial Services | VMP Mortgage Solutions in collaboration with Freddie Mac—will help meet the needs of their Hispanic consumers, while still providing trusted compliance documentation.
From Origination to Closing
The documents include origination and closing documents in a bilingual format designed for conventional mortgage programs in both Florida and New York. Additional documents are being translated based on lender demand.
Educational Materials
To complement the mortgage documents, Eastern Financial Florida Credit Union and Home Funding Finders will use a bilingual consumer education brochure series—“A Home Buyer’s Guide to the Mortgage Process and Paperwork”—to help explain the mortgage process in a step-by-step approach.
Each of the educational pieces contains corresponding English and Spanish text to allow speakers of either language to follow the information.
Bilingual Technology
Dynatek (a Wolters Kluwer Financial Services LOS Alliance Partner) will also be the first technology provider to offer bilingual documents to its lender base.
The company is currently in the process of mapping data to the hundreds of fields that are a part of these documents.
Learn More Today
For additional information about bilingual mortgage forms and educational materials, please contact Lisa Fraga at 1-800-521-1362, Extension 1353.
NONTRADITIONAL LENDING COMMENT PERIOD EXTENDED
The federal financial regulatory agencies have extended the comment period on the proposed guidance for nontraditional lending.
The proposed guidance was originally posted in the Federal Register on December 29, 2005, with a 60-day comment period.
The comment period has now been extended to March 29, 2006. To read the proposed guidance, visit: http://hudclips.org/sub_nonhud/cgi/pdf/24562.pdf.
NEW OFFICES IN TROY, MICHIGAN
We’re pleased to announce that we have completed the move of all our infrastructure systems and VMP Mortgage Solutions staff to our new Troy, Michigan office.
Please contact us at the following address and telephone numbers:
- Site Address:
5440 Corporate Drive, Suite 425
Troy, MI 48098
- Telephone:
1-248-430-1300
- Fax:
1-248-430-1375
