DocuTech Corporation (DocuTech), a provider of mortgage compliance documents and initial disclosures for the mortgage industry, has partnered with Xerox Mortgage Services to utilize Xerox’s DataGlyph technology for the automatic classification of loan documents. DocuTech customers now benefit from an enhanced and accelerated process for generating, classifying, filing and storing mortgage documents. Developed at the Palo Alto Research Center, Xerox Mortgage Services’ DataGlyphs technology is a sophisticated form of a barcode that acts as a portable database and enables DocuTech customers to embed loan data onto a document. Those documents can be automatically classified in the BlitzDocs electronic loan folder upon submission via scan or upload—saving 30 to 45 minutes in data entry and manual classification. The technology is integrated with DocuTech’s precision document system ConformX, ensuring lenders only generate the necessary documents needed for each closing.
“Xerox Mortgage Services believes that eliminating key strokes and streamlining processes are key to paperless adoption,” said Nancy Alley, vice president of product management at Xerox Mortgage Services. “Our DataGlyph technology is a prime example of how automating the loan process can greatly improve a business’ efficiency and reduce errors. Using DataGlyphs, DocuTech’s customers can accelerate their lending process, offer higher levels of service and increase loan volume due to reduced costs and time spent handling loans.”
DocuTech’s ConformX also transforms any Internet connection into a closing office, enabling lenders to generate and print compliant loan documents from within the loan origination software.
“Using Xerox Mortgage Services’ DataGlyph technology, our customers can continue to provide loan documents that are guaranteed to meet required regulations and streamline the document management process,” said Scott K. Stucky, chief operating officer at DocuTech. “DocuTech is dedicated to ensuring its customers are provided with the necessary tools to enhance the lending process, cut costs and improve accuracy.”
