FOR IMMEDIATE RELEASE
Wolters Kluwer Financial Services and LoanSifter
Provide Lenders
Seamless, Electronic Access to Compliance
Disclosures
Wolters Kluwer Financial
Services Integrates Disclosure Manager
Solution with
LoanSifter’s Integrated Web-based 1003 and Pricing Engine
MINNEAPOLIS and APPLETON,
Wisc.– Sept. 28, 2009 – Wolters Kluwer Financial Services
and LoanSifter announced today that the
two companies have integrated Wolters Kluwer Financial Services’ Disclosure Manager solution with
LoanSifter’s integrated
web-based 1003 mortgage application and product, pricing and eligibility engine.
As a result, banks, credit unions and lenders using LoanSifter’s solution to
originate mortgage loans will have seamless, electronic access to Wolters
Kluwer Financial Services’ VMP Mortgage Solutions compliance disclosures.
Financial institutions have relied upon the disclosures to help meet all state
and federal regulatory requirements for nearly four decades.
The
new integration will enable users of LoanSifter’s integrated 1003 mortgage
application solution to generate standard and customized initial disclosure
documents through Wolters Kluwer Financial Services’ Disclosure Manager
solution, and then electronically deliver them to borrowers for e-signature.
The platform also gives financial institutions the option of completely and
securely outsourcing the printing and mailing of paper disclosures when needed
or requested by the borrower through Wolters Kluwer Financial Services’ mail
fulfillment center.
Because
Wolters Kluwer Financial Services’ Disclosure Manager platform automatically
generates compliance documentation for LoanSifter’s lenders, they can eliminate
the regulatory requirement burden associated with determining which documents
are required for a specific transaction and jurisdiction. Through the secure
electronic delivery of disclosures, lenders can also realize considerable time
and cost-savings through reduced printing, handling and mailing costs versus
the traditional manual, labor-intensive paper-based process.
“With
LoanSifter’s versatile Web site pricing portal and 1003 applications, financial
institutions are able to deliver accurate real-time quotes and streamline the
application process, while reducing mistakes from within their existing Web sites,”
said Bruce Backer, president of LoanSifter. “This key integration with Wolters
Kluwer Financial Services closes the loop by automatically delivering
up-to-date disclosures, ensuring proper compliance and reducing overhead.”
“No
other provider can help financial institutions manage more of their regulatory
compliance and operational risks tied to mortgage lending than Wolters Kluwer
Financial Services,” said Jason Marx, vice president and general manager,
Mortgage, for the company. “By working with leading providers like LoanSifter,
we’re helping more institutions successfully and compliantly grow their lending
businesses.”
About LoanSifter, Inc.
LoanSifter, Inc. provides the banking industry's
most comprehensive tools for mortgage bankers, loan officers and secondary
departments to price, market and manage loans. The company’s flagship product, LoanSifter,
is an accurate, web-based pricing solution providing banks, credit unions and
brokers with advanced tools to improve their service levels and increase
profits. LoanSifter has the most comprehensive investor database in the
industry featuring over 130 correspondent and wholesale lenders. For more
information, call 920.268.4770 or visit www.LoanSifter.com.
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.