DocuTech has added Secured Automated Document Delivery via sFTP to its flagship document compliance software, ConformX®.
ConformX’s sFTP functionality creates a snapshot of every loan disclosure package as it is generated. This enables lenders to better track and manage documents requiring borrower signatures, improving accuracy and ensuring that all documents are signed and returned. For Dallas-based PrimeLending, ConformX’s sFTP provides the lender an extra layer of compliance for both investors and regulators.
“If we have to redisclosure a loan, everything is date and time stamped, helping us marry up what was ordered from DocuTech with time to answer any question,” Ken Mezger, PrimeLending’s process improvement manager, said. “It’s been most helpful with investors. We have cases where we have to prove to the investor what was disclosed when and which versions were signed by the borrower. ConformX’s sFTP proves we redisclosed by maintaining a copy in our imaging system and producing it back on demand.”
The sFTP feature also supports eSignatures, enabling lenders to automatically image, store and retrieve signed documents. Lenders can deliver and receive signed documents in a matter of minutes.
“The key to compliance is documentation, and the key to reducing compliance expenses is trimming the time needed to generate that documentation,” said Scott K. Stucky, COO of DocuTech. “ConformX’s sFTP automatically captures every page of a disclosure package, eliminating the need to manually copy, file, search and retrieve documents to ensure compliance with laws and investor guidelines.”