Community Bankers Association of Illinois Joins ICBA in Endorsing Wolters Kluwer Financial Services Mortgage Documentation Solutions
MINNEAPOLIS-(Business Wire)-September 24, 2009 - Wolters Kluwer Financial Services announced today that the Community Bankers Association of Illinois (CBAI) is the latest banking organization to endorse the company’s mortgage documentation solutions. The company provides financial institutions with a complete suite of solutions designed to help lenders reduce regulatory and operational risk, improve operational efficiencies, increase speed-to-market and grow revenue by closing loans more quickly and efficiently.
“Banks have relied upon Wolters Kluwer Financial Services’ consumer and commercial lending and deposit software to help them comply with state and federal law for decades,” said Mike Kelley, President of Community BancService Corporation, the member services subsidiary of CBAI. “It makes perfect sense for our members to turn to the company for automated and print solutions that will help them grow their mortgage businesses and comply with all related regulations in the process.”
CBAI is an affiliate of The Independent Community Bankers of America (ICBA), which also endorses Wolters Kluwer Financial Services’ mortgage compliance solutions through its Preferred Service Provider program.
“As community banks continue to ramp up their presence in the mortgage space, it is important for them to know they can turn to a trusted provider of risk management solutions like Wolters Kluwer Financial Services to help address on-going regulatory changes such as those related to RESPA,” said Dan Clancy, ICBA senior vice president of services.
The CBAI now endorses the following Wolters Kluwer Financial Services mortgage documentation solutions:
- Document Preparation solution that interfaces with a financial institution’s existing loan origination system to access borrower data, populating the information into Wolters Kluwer Financial Services’ compliance documents and disclosures. Each document is built upon the more than 40 years of regulatory risk management expertise and experience behind the company’s VMP Mortgage Solutions brand and helps an institution ensure compliance with all regulatory and investor requirements;
- Print Forms, featuring compliance content to meet regulatory requirements in all 51 U.S. jurisdictions as well as investor guidelines;
- SDX Secure Document Exchange, a secure electronic communications tool that allows lenders to deliver documents to borrowers for e-signature or e-consent and provides the option of completely and securely outsourcing the printing and mailing of paper disclosure documents when needed via a mail fulfillment center;
- Government Lending Services that can help institutions quickly enter Federal Housing Administration (FHA) and Veterans Administration (VA) loan markets with license support, warranted compliance documents, audit compliance and quality control plans, and comprehensive staff training; and
- StateLink, a Web-based compliance tool that provides up-to-date regulatory information for all 51 jurisdictions in plain language format, as well as links to the actual regulations.
In addition, the CBAI also endorses the company’s PCi compliance analytics solutions to help its members address fair and anti-predatory lending requirements, including Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) obligations.
About CBAI
CBAI is a professional trade association representing approximately 460 Illinois commercial banks and thrifts, and their 930 Illinois bank branches. Its members have $70 billion in assets and employ approximately 18,000 individuals. CBAI, headquartered in Springfield, was founded in 1974.
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.
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