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Commerce Velocity and DocuTech's ConformX Partner on Compliance

NationalMortgageProfessional.com
May 29, 2009

DocuTech, a provider of mortgage compliance services and documentation technology, and Commerce Velocity have integrated DocuTech's Web-based document solution, ConformX with Commerce Velocity's Spectrum, a Web-based loan origination software (LOS). DocuTech, a provider of mortgage compliance services and documentation technology, and Commerce Velocity have integrated DocuTech's Web-based document solution, ConformX with Commerce Velocity's Spectrum, a Web-based loan origination software (LOS). The integration enables lenders using Commerce Velocity to access and generate compliant loan documents from any computer with an Internet connection. ConformX is backed by DocuTech's compliance staff, which guarantees that all mortgage document packages are accurate and complete. By reducing the need for extra staff to maintain document compliance, lenders are able to keep up with changing document requirements without sacrificing the accuracy demanded by regulators. "In today's lending environment, compliance is of the utmost importance," said Umesh Verma, president of Commerce Velocity. "The integration with DocuTechs ConformX enables our lenders to focus on making and closing loans with the assurance that they will always have the correct documents for every loan." Commerce Velocity's Spectrum is a technology platform that can mitigate risk throughout the entire loan lifecycle. The LOS provides lenders a true commitment-to-lend decision at the point-of-sale, applies risk models and workflow rules to address and repair problem loan files and verifies those loans comply with investor guidelines. ConformX securely delivers printed-paper, e-mail and Web-posting options from any Internet location around the world. Lenders can also customize business process rules to meet state and federal requirements, enhance security, require high-cost loan checks and ensure that only the needed documents are printed. This integration imports loan data directly into ConformX, improving the accuracy and speed of the transaction process. "Lenders today are forced to do more work with fewer resources," Ty Jenkins, chief executive officer for DocuTech. "ConformX's integration into Commerce Velocity is a seamless integration, providing lenders with a unified workflow from originating the loan to drawing the documents for disclosures to generating everything needed for closing."
Published
May 29, 2009
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