MRRE for Lenders
We are pleased to announce that lenders can now obtain on time final reporting from lawyers on mortgage transactions via the Mortgage Registration Reporting Electronically (MRRE) application.
MRRE is a one-of-a-kind Internet-based application that was developed and patented by lawyers for lenders and lawyers. Our software enables lawyers to communicate and submit final reporting to lenders on mortgage transactions on time and with efficiency.
The fact is that the front-end aspects of the mortgage transaction, such as instructions and funding, are not always a problem for the lender. However, the final report and package to the lender are often late and can result in increased costs and risk, as well as a delay in re-securitization.
MRRE can help alleviate these problems by providing the lender with the following benefits:
- Streamlined Reporting
- Provides the lender with the exact same reporting format they currently use.
- Fast, real time reporting for both interim reports/funds requests and final reports.
- Exception reporting feature.
- Lender has the option of an e-mail only reporting version or a complete dashboard version.
- Data from MRRE can be downloaded from MRRE to the lenders own database for archiving.
- Lender continues to maintain full and complete control of the mortgage transaction.
- Reduced Costs
- An Internet based program so no software to install and no updates to download.
- Eliminates lender resources and staff now used for ‘report chasing’.
- Eliminates excess paper and excess paperwork.
- Reduced Risk
- Secure transmission, receipt, and storage of all data, reports and documents.
- Includes title insurance and verification of title insurance.
- Re-securitization
- Supports lender re-securitization on a timely basis.
- Timely reporting of mortgage security registration within hours of completion.
- Improved Lawyer Lender Relationship
- Proprietary to the lender and lawyer. Does not require any outside intermediary involvement - works on a lender to lawyer basis.
- Web-based program that supports and enhances the relationship between lenders and lawyers.
- Does not replace the relationship between lenders and lawyers.
For added convenience,
MRRE is linked with certain qualified and approved Title Insurance Companies in order to allow the pre-population of fields automatically into MRRE's reporting documents and to report authorized and valid Title Insurance Policies have been issued.
The MRRE program streamlines the transactional process for the legal and lending communities and provides the only lawyer-based solution that facilitates the reporting process between the lender and the lawyer and supports this longstanding working relationship.
Take advantage of the features and benefits MRRE provides. Contact us to arrange for a presentation!