Ellie Mae, a provider of loan processing software, is creating and updating loan modification closing packages for several top ten lenders, the company said. Ellie Mae said clients are currently using the service to process more than 5,000 loan modifications per week. The service creates loan modification packages with Web-based data entry that requires no re-keying of data. All documents are compliant with Fannie Mae, Freddie Mac and MERS requirements, Ellie Mae said. The service assesses the needs of the lender's workflow, accommodates lender-specific workout plans, and handles all recording, notary, and compliance monitoring needs, the company said.
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