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Forward on reverse: Obama's call and reverse mortgages

National Mortgage Professional
Jan 20, 2009

DocuTech adds 89 customers, substantially enhances product in 2008MortgagePress.comDocuTech, compliance services, mortgage documents, ConformX Idaho Falls, Idaho-based DocuTech Corporation (DocuTech), a leader in compliance services for mortgage documents, has added 89 customers to its roster of mortgage lenders in 2008 using services to automate document compliance and reduce costs associated with generating documents, managing disclosures and checking documents for regulatory compliance. The company also released a new, expanded version of its flagship product, ConformX, and enhanced the company's management team. Despite a slow market, DocuTech continues to add lenders seeking compliance services for mortgage documents. In July, San Francisco-based Parkside Lending, one of 33 customers added during the third quarter, signed with DocuTech because the company offered compliant documents that required less labor than competitors. "Because of the time saved and the lower cost of the documents, ConformX has paid for itself in only a few months," said Matt Ostrander, CEO of San Francisco-based Parkside Lending. "We'll save $40 per loan file, which over the course of the year will equal hundreds of thousands of dollars. With ConformX automating the bulk of our document tasks, my staff can focus on quality control and sales." Other new customers selected DocuTech because of the automated eDisclosures that eased the regulatory burden from new regulations. In September, DocuTech released the newest version of ConformX, which generates compliant closing documents from any Internet connection. The upgrade provides lenders more automation and fewer screens to complete closing documents. It also pulls data directly from a lenders loan origination system (LOS) and runs data integrity, high cost checks and predatory lending checks on the loan. DocuTech's legal compliance staff automatically updates the program with new regulations, eliminating time-consuming document maintenance. DocuTech also enhanced its management team by adding Philip Mikolaj as chief technology officer in August. Mikolaj brings more than 10 years of mortgage industry experience and technology expertise and will be responsible for developing, testing and expanding DocuTech's key products: ConformX, Fulfillment Center and HCL/PredCheck. He will also be responsible for managing the company's internal IT functions. "DocuTech remains committed to providing the most up-to-date mortgage document compliance updates in the industry," said Ty Jenkins, CEO of DocuTech. "Our customers receive the best of all worlds--their documents are always up-to-date and accurate, and they can generate those document with fewer resources than other providers." For more information, visit www.docutechcorp.com.
Published
Jan 20, 2009
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