AllRegs Adds Disclosures in Spanish

AllRegs, an Eagan, Minn.-based online publisher of reference information for the mortgage industry, has announced the addition to its state compliance offering of Spanish versions of over 300 state-specific disclosures required at the time of origination.The Spanish versions are available without cost to any subscriber and are searchable and accessible within AllRegs to non-Spanish-speaking users, the company said. "Providing Spanish language disclosures achieves several important goals," said Steven M. Kaplan, a partner at Kirkpatrick & Lockhart Nicholson Graham LLP’s Washington, D.C., law office and a specialist in national residential mortgage lending issues. "Not only is it required by certain laws, but it helps ensure that Spanish-speaking loan applicants understand the terms of the loan. It is a good risk management tool." Written and provided by TenA Cos., a St. Paul, Minn.-based provider of quality assurance systems, the disclosures mirror the English versions already included in AllRegs State Compliance, the company said. The companies can be found online at http://www.allregs.com, http://www.klng.com, and http://www.tenaco.com.