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Special Reports
Document Services
DocuTech Teams Up With MortgageFlex
JACKSONVILLE, FL -- MortgageFlex Systems Inc. and DocuTech Corp. have formed a
strategic partnership that offers lenders a full-service mortgage solution online.
By integrating DocuTech's intelligent Web-based document solution, ConformX, within
MortgageFlex's advanced processing system, LoanQuest, the companies say they have created a seamless product that
serves the loan from application to upfront documents to data verification to closing documents and delivery.
LoanQuest users will find continuity with the solution. It requires no additional
training or tools yet easily produces upfront disclosure and closing documents.
The new product is designed to protect data integrity from point-of-sale to investor
delivery, the company said, and provides both traditional paper and eMortgage-capable documentation services.
Utilizing the flexibility of XML programming, it does not require importing of
files. Rather, loan data are seamlessly passed from LoanQuest into ConformX, which launches the DocuTech print
engine. (DocuTech's in-house software solution, DTClassic is also available as a non-dialup alternative.)
Data are verified by the system and users are automatically prompted if there
are any missing data exceptions prior to producing a fully compliant loan document package. The only screens that
an end user sees are the missing data screen and the final loan package, which gives the option to print, e-mail,
post to the Internet, or create PDFs or SMART Docs for electronic delivery.
SMART Docs for all 50 states and loan types are available for partial or complete
electronic mortgages.
"Many of our customers were looking for a solution that incorporates leading
edge functionality, technology and compliance," said Lester Dominick, CEO of MortgageFlex. "The partnership
between MortgageFlex and DocuTech gives customers the advantage from a compliance and cost standpoint.
They can feel confident that the tools, edits and calculations built into both
systems will insure a compliant cost-efficient solution to their origination operations."
"This is the perfect marriage between two systems that are XML-based,"
said Tim Anderson, executive vice president of eMortgage Solutions at DocuTech.
"Both systems utilize XML technology, allowing for flexibility in exchangingand
analyzing data and creating a perfect fit for loan origination and Web-based delivery. Lenders now have the advantage
of doing the entire mortgage process from application to closing docs, utilizing the best technologies available.
There's no need for additional tools or training, as the entire document process is seamlessly integrated into
LoanQuest."
Mr. Anderson was the 2003 winner of Mortgage Technology magazine's Steve Fraser
Award.
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