Company’s Updated Documents Can Be Used to Help Efficiently Refinance Home Loans At Risk of Default
Minneapolis, MN (February 11, 2010) - In response to recent enhancements to the federal government’s HOPE for Homeowners (H4H) program, Wolters Kluwer Financial Services has updated its comprehensive library of H4H mortgage documents and consumer education materials. Lenders and servicers can use the documents to help more efficiently refinance troubled borrowers’ existing mortgages into more affordable loans in compliance with the H4H program.
The Department of Housing and Urban Development’s newly-enhanced H4H program contains several provisions meant to increase lender and borrower participation. They include: reduced program fees, streamlined borrower certification requirements, and underwriting guidelines more consistent with standard Federal Housing Administration (FHA) lending practices. The program now also provides greater incentive payments for originators and servicers.
Wolters Kluwer Financial Services offers lenders and servicers mortgage documents and disclosures needed to refinance loans through the H4H program. Members of the company’s Compliance Management Services team can also help educate an institution’s staff on H4H program requirements through tailored training programs. These risk management professionals include attorneys, compliance analysts and regulatory consultants with decades of financial services industry experience, and many of whom are former regulators, bankers and lenders.
“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, vice president and general manager of Mortgage for the company.
To learn more about the federal government’s recent H4H program updates, please visit Wolters Kluwer Financial Services’ Web site to download an article detailing the changes.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.
Contact
Jennifer Marso
Director of Corporate Communications for Wolters Kluwer Financial Services
612.852.7912
jennifer.marso@wolterskluwer.com
On Twitter: @JenniferMarso
Charles Miller
Senior Public Relations Specialist
Banking, Mortgage and Credit
Unions
320.240.5457
charles.miller@wolterskluwer.com
On Twitter: @CharlesWMiller