DocuTech Corp. (DocuTech), a provider of mortgage compliancedocuments and initial disclosures for the mortgage industry, haspartnered with PriceMyLoan (PML), a pricing and automatedunderwriting engine designed for residential mortgage lenders, toprovide an integrated service for compliant mortgage documents anddisclosures.
PriceMyLoan's Web-based loan origination software (LOS) automatesthe underwriting, pricing and closing loans. By integratingDocuTech's ConformX, the Company noted that the LOS now generatesguaranteed compliant mortgage loan documents and disclosures basedon the data imported from the LOS. Lenders using the programsbenefit from the time savings and improved accuracy that comes fromnot having to rekey data between systems.
"Maintaining compliance is of the utmost importance to ourlenders," said Linn Cook, director at PriceMyLoan. "By having everydata field automatically exported from our LOS into ConformX, ourusers can generate only the documents they need and know that thecompliance is guaranteed to be accurate."
The DocuTech, PriceMyLoan partnership enables lenders to generateand order only the closing documents needed for each loan directlywithin the PML platform. DocuTech noted that this ensures that nowasted documents are printed that may confuse borrowers, increaseclosing times or increase storage costs. Users of the integrationare able to generate documents and test for compliance with federaland state regulations in a few mouse clicks, compared to othersystems that require navigating multiple screens and tabs to ensureall data is entered.
"PriceMyLoan is known for their comprehensive, online approach toautomating loan processes," said Scott K. Stucky, DocuTech's COO."ConformX brings the closing office online, ensuring that lenderscan maximize staff time and minimize costs with precise documentpackages tailored to fit each loan's individual geographic andinvestor requirements."
PriceMyLoan utilizes the newest Web technology and combines itwith a dedication to high-touch customer service. The MISMO-basedXML interface seamlessly transfers a set of data that minimizesmanual rekeying of information, which reduces error and minimizesrisks. DocuTech said that the LOS provides customers with, costeffective solutions that result in shorter loan cycle times,improved pull-through rates and higher productivity.
ConformX serves as a remote closing office from any Internetconnection. The Company reported that the software securely deliversprinted-paper, e-mail and Web-posting document options. ConformX isboth time and cost effective, enabling lenders to customize businessprocess rules to meet investor, state and federal requirements;enhance security; require high-cost loan checks and ensure that onlythe needed documents are printed.
PriceMyLoan is a pricing and automated underwriting enginedesigned for residential mortgage lenders.
More Information:
www.pricemyloan.com
www.docutechcorp.com
((Comments on this story may be sent tonewsdesk@closeupmedia.com))
Комментариев нет:
Отправить комментарий