Capsilon, a provider of cloud-based document and data management solutions for mortgage lenders and investors, has announced the addition of Cenlar FSB, Deutsche Bank and PennyMac to its Capsilon DocVelocity Network Delivery solution, which enables lenders to securely deliver fully compliant loan packages to leading financial institutions and government-sponsored enterprises (GSEs) according to their prescribed formats and protocols.
With the addition of these three institutions, Capsilon DocVelocity users can now deliver a single loan, or group of loan packages in a batch delivery, to ten flagship institutions. The additon of Cenlar FSB represents the first full-service loan servicer in the Capsilon Network. Supported major investor institutions now include Chase, Citibank, Deutsche Bank, Flagstar Bank, PennyMac and Wells Fargo. The supported government institutions include Fannie Mae, Freddie Mac and the Federal Housing Authority. With a single click, loans are sent directly to these institutions according to their specific formats and protocols, ensuring accurate, on-time delivery of loan packages.
Capsilon DocVelocity ensures accurate delivery through a number of quality control (QC) features that provide enhanced selection, mapping, translation and tracking of mortgage documents. DocVelocity automatically selects the correct documents, names them and places them in the stacking order required by the recipient institution. This reduces compliance risk and eliminates up to 90 percent of labor costs associated with the complicated task of selecting, naming and sorting the correct documents needed to assemble a loan package for delivery.
“The Capsilon DocVelocity Network Delivery capability is used by some of the largest mortgage lenders in the country, and the expansion of the Network stems from the requests of these large lenders,” said Sanjeev Malaney, chief execultive officer at Capsilon. “Lenders doing business with Cenlar FSB, Deutsche Bank and PennyMac are now able to use the Capsilon DocVelocity Network Delivery capability to securely expedite the delivery of high quality loan packages that meet all formatting and transmission requirements of these leading institutions.”
About Capsilon Corporation
Capsilon provides comprehensive document imaging and data capture solutions that enable mortgage lenders and investors to increase productivity and lower costs, while ensuring compliance. The company’s flagship product, Capsilon DocVelocity®, is a document and data management platform built specifically to address the needs of the largest mortgage lenders in the United States. Headquartered in San Francisco, Capsilon serves many of the mortgage industry’s most innovative lenders, including two of the 10 largest residential mortgage lenders in the United States. For more information, visit www.capsilon.com.
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DocVelocity® is a registered trademark of Capsilon Corporation. All other marks are the property of their respective owners.
