DocuTech Forges Partnerships to Expand Electronic Document Management.
While the elusive e-mortgage always seems just around the corner, lenders nationwide are realizing and embracing the move of electronic documents for filing, delivery and storage.
ConformX has supported electronic documents for years, providing lenders the capability to generate documents in either PDF or SMART document formats. Now, DocuTech customers have the option of working with two new partners to manage the filing, delivery and storage of the loan documents.
DocuTech and Axacore Partner to Reduce Costs
Axacore, a privately-held provider of document imaging, fax and messaging solutions, has formalized its business partnership with DocuTech to streamline the generation, compliance, capture, indexing and security of mortgage documents. The new partnership provides users additional tools to manage mortgage document requirements mandated by recent regulatory changes.
“We have found that working with these two firms enables us to gather the information we need to complete a loan faster, produce docs and manage thousands of origination files with an electronic document management system,” said Jerry Schiano, president and CEO at New Penn Financial. “These intuitive, easy-to-use systems allow us to provide a better experience for borrowers, help to keep us compliant with regulations, reduce our costs and provide a quick return on investment.”
Many lenders benefit from DocuTech and Axacore working together to bring efficiencies to their operations. The relationship is important, because it will provide lenders reduced overhead and improved service levels.
“The combination of Axacore’s industry-standard electronic document management system and our compliant document services brought efficiencies and improved workflow that helped reduce costs for many lenders,” said Scott K. Stucky, COO of DocuTech.
“The goal was to ensure that we make available to clients everything we can to help them fatten their bottom lines through faster turnaround times, improved efficiencies and removing paper from the loan origination process,” said Steve DeBlasio, national sales manager for Axacore. “We systematically capture and index DocuTech documents enabling simple and efficient version control of critical documents including Good Faith Estimates (GFE) and Truth in Lending (TIL) disclosures.”
DocuTech Partners with Xerox Mortgage Service DataGlyph Technology
DocuTech has also partnered with Xerox Mortgage Service BlitzDocs to utilize its DataGlyph technology for the automatic classification of loan documents. This partnership enhances and accelerates the process of generating, classifying, filing and storing mortgage documents.
Xerox Mortgage Services uses its DataGlyphs technology, a sophisticated form of a barcode that acts as a portable database, to enable DocuTech customers to embed loan data onto a document, which results in the automatic classification of scanned and uploaded loan documents into the BlitzDoc Collaboration Suite. The use of DataGlyphs increases security and encryption capabilities, while eliminating the need to re-enter loan data from the origination process. The integrated software works hand-in-hand with DocuTech”™s precision document system ConformX, ensuring lenders only generate the necessary documents needed for each closing.
With the increase in regulations demanding lenders track and store all mortgage documents to ensure compliance, the need for paperless document management is more important than ever. DocuTech is committed to partnering with the industry’s best services to ensure that your compliant documents are filed and stored quickly and cost-efficiently while still being able to access them and pull them at anytime to prepare for regulatory audits or reports.
For more information, contact your account representative at 800.497.3584