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VMP State Link.

VMP STATE LINK, A PUBLICATION from VMP Mortgage Forms, is a national, comprehensive, compact desktop regulatory reference library, targeted for today's mortgage lender.

As mortgage lenders continue to do more and more business on a nationwide basis, VMP State Link is a valuable reference tool. The publication was designed and conceived to be a single national regulatory and compliance source, and could almost replace 50 state regulatory reference books with its five volumes.

Each state-specific chapter covers variable components of mortgage lending regulations that require compliance verification. With some variation, each state chapter generally includes: state licensing requirements; security and recording instruments; assignments, fees and foreclosure instruments; escrow payment responsibilities; and disclosure notice information.

While the compact size of VMP State Link is important, the user-friendly format of its presentation is key to the value of the publication. Information for each topic is presented by state, in an easy-to-use binder format; closing forms required for each state are pictured in their entirety.

Usually a library of reference materials is assembled in separate publications for each state. This means that you normally have to know where to look, plus how to use the reference book because each state is organized differently. Using VMP State Link, with its continuity of format, region by region and state by state, makes research on compliance issues a much easier task.

In addition to the regulatory information provided on a state-by-state basis, each of the five regional volumes also provides a directory of secondary offices, regulatory and government agencies, along with information concerning industry-related trade organizations.

VMP State Link does not stop with the five regional binders--it also offers continual compliance updates to subscribers--in annual, ongoing and electronic formats. Subscribers receive an entire set of replacement pages annually, for insertion into the VMP State Link binder. Update information pages, due to changes in local, regional or national legislation and/or lending policies, are mailed throughout the year. Subscriptions include unlimited access to the special State Link section of VMP Forms Link, an electronic bulletin board service provided by VMP Mortgage Forms.

Because of the compact nature of the publication, thorough research of a given area in a specific state, particularly in a highly regulated state, may require the use of additional reference materials. However, the information I have found in VMP State Link gives me confidence that it is the best place to start my research on any regulatory topic. The publication provides such a comprehensive outline, that it signals the need for additional research when appropriate.

It has traditionally been difficult to find one reliable source for all a mortgage lender's regulatory and compliance needs. But after reviewing VMP State Link, I can recommend it as the best guide for this information on the market today.

Reviewer Maureen Pulignano, GML, is a principal of Mount Vernon Mortgage, Inc., of Palm Beach County, Florida and currently serves as president of the National Association of Professional Mortgage Women (NAPMW).
COPYRIGHT 1992 Mortgage Bankers Association of America
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Author:Pulignano, Maureen
Publication:Mortgage Banking
Article Type:Book Review
Date:Oct 1, 1992
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