Houston, Texas-based Network Funding LP has selected DocuTech Corp.’s ConformX to ensure that up-front disclosure documents meet local, state and agency compliance requirements via a strong integration with the lender’s loan origination software (LOS), LendingQB. Network Funding also selected ConformX to provide up-front disclosure fulfillment, combining electronic delivery and printed paper fulfillment operations.
Network Funding noted that DocuTech’s customer service team has been a responsive and accommodating resource throughout the implementation process. “DocuTech’s ConformX enables us to easily generate and deliver up-front disclosure documents with the knowledge that our documents meet the Consumer Financial Protection Bureau’s (CFPB) compliance requirements, as well as local, state and agency standards.”
“The upcoming RESPA/TILA disclosure reform is an immense challenge and is changing key loan disclosures dramatically,” said Willie Jordan, national operations manager of Network Funding. Network Funding said they expect to rely on DocuTech to navigate and facilitate the upcoming regulatory changes through the document tools, electronic document support and guaranteed compliance DocuTech delivers.
DocuTech’s flagship software, ConformX, creates compliant mortgage documents and adds digital document capabilities, such as eSignature and eDelivery, all the while providing support for paper-based documents as required. The software generates compliant documents, pulling accurate data directly from the LOS, saving overhead costs and consolidating resources.
“Now is the time for lenders to prepare for the Aug. 15 RESPA/TILA deadline,” said Scott K. Stucky, chief strategy officer of DocuTech. “Network Funding is ahead of the curve by implementing a dynamic document engine that will be ready well in advance of the deadline while also providing the exact documents needed for every situation in a data-secure environment.”