Who: Pleasant Valley Home Mortgage, Moorestown, N.J. Joseph Fox, chief operating officer
When: Implemented ConformX in August 2009
What: Moorestown, N.J.-based Pleasant Valley Home Mortgage opened its doors in the midst of the United States’ worst housing crash since the Great Depression. Through its reliance on solid lending practices and trusted technology partners, such as DocuTech, the independent lender continues to find success…and 100 percent guaranteed compliant mortgage documents.
Pleasant Valley Home Mortgage was founded in Moorestown, N.J. in 2009 and has since spread its top lending services to Connecticut, Delaware and Pennsylvania. When the company opened, the mortgage lender knew it needed a trusted document provider that could guarantee compliance, select the correct documents and work seamlessly with the loan origination software.
Pleasant Valley Home Mortgage’s chief operating officer, Joseph Fox, began the search for a document provider with those specific qualities due to negative experiences with other vendors at previous companies.
“I’ve had struggles with document providers in the past pulling the wrong loan documents or incorrectly completing them,” Fox said. “When we open Pleasant Valley, it was a necessity that the document system eliminate the need to enter data into the system. We desperately needed a document service that would not only cut down on cost and data entry but also guarantee the accuracy of the loan documents we sent out.”
Fox added that their ideal document services partner would also have to seamlessly integrate with Pleasant Valley Home Mortgage’s loan origination software (LOS), PCLender.
After due diligence on more than eight vendors, Pleasant Valley Home Mortgage selected DocuTech’s ConformX system in August, 2009. ConformX creates precise document packages for the mortgage company’s almost 700 loans per year, which are guaranteed to be in full compliance with federal, state and investor guidelines based on the lenders specific needs. By maintaining a library of loan documents compliant with all rules and regulations, ConformX removes the burden of checking each document and generates the package quickly and efficiently for them.
ConformX’s seamless, user-friendly Web interface fully integrated with PCLender’s InHouse Mortgage. It is accessible 24 hours a day, 7 days a week either through any Internet connection or from within InHouse Mortgage to conveniently provide lenders with service whenever needed, while operating at a more efficiently than other competitive document vendors. The precision document technology ensures Pleasant Valley Home Mortgage users no longer have to reenter data, which improves time efficiency and drastically reduces the chance of human error.
“DocuTech is capable of handling our volume of loans while still providing us with guaranteed compliance and operating at a lower cost than other document services I’ve used,” said Fox. “They are always able to process our documents quickly and provide us with all the correct documents necessary to move forward in the closing process.”
Implementing ConformX produced an immediate improvement to Pleasant Valley Home Mortgage’s day-to-day operations. The mortgage company received the greatest benefit from an increase in operational productivity put into motion by the DocuTech software. Cutting out the time-consuming task of entering, checking and re-checking data allowed for Pleasant Valley Home Mortgage’s employees to accomplish twice as much work as they could under other systems.
“The most beneficial advantage to using DocuTech is the overall amount of time we save,” said Fox. “The minimal data entry and incredible speed of the system, as compared to other document providers, equals productivity improvements of 100 percent.” Another benefit has been the compliance guarantee DocuTech provides for every loan document it sends out on behalf of Pleasant Valley Home Mortgage. Fox said his past experience with document providers yielded improper document usage, which resulted in his previous company incurring hard dollar costs to fix these mistakes.
“Being able to sleep at night knowing I won’t have improper documents going out is extremely comforting,” said Fox. “DocuTech guarantees not only that all of their loan documents are in full compliance with all possible regulations, but also promises to pay all additional expenses in the event a loan document is improperly used.”
Fox is also particularly satisfied with DocuTech’s customer service accessibility in the event a problem does arise. When initially implementing the new software, Pleasant Valley Home Mortgage encountered a few integration issues with their LOS that required immediate attention from the DocuTech support staff. “DocuTech was beyond helpful in assisting with several kinks in our system after initially going live with ConformX,” said Fox. “Every time we had a question about the system, the DocuTech team was able to provide us with answers on the first call. The great amount of confidence I have in the entire DocuTech team provides me with the peace of mind missing with our previous provider.”
About Pleasant Valley Home Mortgage
Pleasant Valley Home Mortgage was founded in 2009 as an independent lender offering a level of personal assistance not readily available from larger lending companies. Headquartered in Moorestown, N.J., Pleasant Valley Home Mortgage offers its lending services to residents of Connecticut, Delaware, New Jersey and Pennsylvania, specializing in home loans, refinancing and debt restructuring. For more information, visit the lenders website at www.pleasantvalleyhomemortgage.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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