The $75 million Texas Tech FCU will now be using an automatedmortgage document preparation system from MRG Document Technologiesin Dallas, the company and credit union said.

MRG's Miracle Online solution provides automated compliancetests, fee thresholds, initial vs. final APR and higher-pricedmortgage testing and notifies loan officers of discrepancies inreal time, the company said.

The 13,600-member Lubbock credit union began its first lien program in May withonly two staff members and hopes to triple loan production over thenext several months using the new solution, said Jay Herrin, itsmortgage banking officer.

“First lien programs require more focus on regulations, and aswe established our new lending division, we needed a partner whocould assist us in compliance and increasing production withoutadding staff,” said Herrin. “MRG's fully hosted system provides uswith the level of work and attention delivered by an in-house docprep department without the staffing and technology costs.”

MRG said it now provides mortgage technology and compliancesolutions to approximately 350 credit unions, banks and mortgagelenders across the country.