Horsham, Pa.-based Gateway Funding Diversified Mortgage Services, LP, a top-200 mortgage lender, implemented DocuTech Corp.’s ConformX to ensure all mortgage documents are in compliance with federal, state and investor guidelines. DocuTech, a leading provider of compliance services and documentation technology for the mortgage industry, lowers document costs and reduces the time spent maintaining a library of compliant documents via its flagship ConformX product.
Gateway Funding had previously managed documents in-house, but as the company expanded into more states, the process of updating new regions or complying with new regulations became very time-consuming and tedious. Dan Catinella, Gateway Funding’s director of Information Technology, said that the 2010 changes to the Real Estate Settlement Procedures Act (RESPA) was the final issue that prompted their selection of ConformX.
“While regulatory demands initiated our search for an automated document system, it was DocuTech’s support of investor guidelines that impressed us the most,” Catinella said. “We have a great relationship with our investors, and DocuTech was the only vendor who could automate compliance with investor guidelines in our mortgage documents.”
Catinella also cited ConformX’s ease of use as a factor in selecting the system. He said that loan staff could generate documents with one click and no data entry, since the loan data is pulled directly from Gateway Funding’s loan origination software, INTEGRA Software Systems’ Destiny.
“Regulations and guidelines are still changing at a rapid pace,” said Scott K. Stucky, chief operating officer for DocuTech. “ConformX takes the burden of keeping up with hundreds of investor and government regulations away from Gateway Funding so they can focus their attention on closing loans.”
About Gateway Funding
Horsham, Pa.-based Gateway Funding is a full service mortgage banker offering a diverse product portfolio. The company’s knowledgeable and seasoned mortgage specialists are committed to helping borrowers achieve the dream of home ownership. For more information, visit the lender’s Web site at www.gateway-funding.com.
Since 1991, DocuTech Corp. (DocuTech) has provided outstanding compliance services and documentation technology for the mortgage industry. DocuTech’s software interfaces with leading loan origination systems (LOS) and enables mortgage professionals to generate documents locally. DocuTech manages and secures all information needed for a loan, guaranteeing accuracy, security and compliance. For more information visit the company’s Web site at www.docutechcorp.com
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