The Independent Community Bankers of America (ICBA) and Minneapolis-based Wolters Kluwer Financial Services have joined forces to help ICBA members better manage compliance and risk associated with servicing mortgages, as more people turn to their local community bank for a home loan.
Under the terms of the two organizations’ Preferred Service Provider relationship, Wolters Kluwer will provide ICBA member banks with access to the following services: – Document Services Platform, a mortgage document preparation and delivery platform that can interface to most Loan Origination Systems. – Paper documents, featuring VMP Mortgage Solutions compliance content that lenders in all national jurisdictions have relied upon to meet regulatory requirements for more than 30 years. – Secure Document Exchange (SDX), an electronic communications tool that allows lenders to deliver documents to borrowers for e-signature or e-consent and allows secure outsourcing for printing and mailing the associated paper documents.

- Government Lending Services, to help institutions enter Federal Housing Administration (FHA) and Veterans Administration (VA) loan markets with license support, warranted compliance documents, audit compliance and quality control plans, and staff training. – StateLink, a Web-based compliance tool that provides regulatory information for all 51 U.S. jurisdictions.
In addition, Wolters Kluwer will offer ICBA members access to the company’s compliance analytics solutions to help them address fair and anti-predatory lending requirements, including Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) obligations.
“With far less competition than a year ago, and increased demand from customers, many community banks are well positioned to pursue what will likely be the most aggressive expansion of their mortgage business in more than a decade,” said Dan Clancy, ICBA SVP of services. “As they do so, however, these banks must keep in mind the critical compliance and operational risks that accompany such growth. By teaming up with Wolters Kluwer Financial Services, we’re giving our members the ability to thoroughly manage this risk while building more profitable home loan portfolios.”
According to Jason Marx, VP and general manager of Wolters Kluwer’s mortgage business, community banks have turned to his company for trusted regulatory compliance solutions for more than 50 years. He said ICBA and its members can be confident Wolters Kluwer’s compliance solutions will help them rapidly expand their mortgage business while minimizing risk.