Wolters Kluwer Financial Services updated its Web-based StateLink tool to provide mortgage lenders additional information on regulatory revisions being considered in state legislatures. For lenders originating mortgages in multiple states, there is a constant need to stay informed and compliant with not only federal law, but the numerous and varying regulations on the state level. New laws are regularly passed by states, and as HousingWire’s reported, state attorneys general are targeting the mortgage industry with lawsuits and other enforcement action. Minneapolis-based Wolters Kluwer said its online database provides insight and analysis on recently enacted and pending legislation, helping lenders understand the new laws before and as the regulations take effect. “Financial institutions are working to address increasingly complex and rapidly changing regulatory challenges with far fewer resources and shorter turn times than in the past,” said Jason Marx, vice president and general manager of the Wolters Kluwer mortgage division. “StateLink helps lenders plan for and meet regulatory requirements and manage their compliance research more effectively,” he added. Wolters Kluwer said it monitors potential legal changes to first mortgages and closed-end second mortgages, such as those tied to disclosures and fees, updating StateLink as necessary. When new data is available users can elect to receive e-mail alerts about changes in the states where they operate. If the new laws affect mortgage documents, Wolters Kluwer said it offers samples of the new paperwork through its document generation service. Write to Austin Kilgore.
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