Who:
JMAC Lending, Irvine, Calif.
When:
Docutech customer since 2007.
What:
In 2014, JMAC Lending implemented a new LOS platform to better serve their growing loan business. The lender was able to keep Docutech’s compliant document services to successfully ensure regulatory compliance, eliminate costs and increase efficiency through the LOS change. Throughout the integration of the new LOS platform, Docutech’s products allowed the lender to ensure that all generated documents were timely and compliant through each stage of the origination process.
The Challenge: Evaluating Technology During an LOS Conversion
Managing documents and compliance in today’s industry requires a significant time commitment and many resources. In 2007, JMAC Lending chose Docutech’s ConformX to automate the generation of mortgage documents and disclosures, as well as reduce the time and cost spent ensuring document compliance. Docutech’s documentation technology products safeguarded JMAC’s data integrity through each transaction and made generating accurate documents simple.
Recently, JMAC Lending reexamined the origination process and the technology needed to automate origination, underwriting and closing. The company chose to change LOS providers, selecting LendingQB. As they made a switch in their primary loan database, JMAC also evaluated their other technology systems.
In addition to ensuring they selected the best LOS for their business, it was also critical that the company continued to generate timely, compliant documents while meeting the requirements of the regulators. After evaluating their options, JMAC Lending decided to stay with Docutech based on the strength of the vendor’s integration into their new LOS and their track record of providing outstanding service.
The Solution: DocuTech’s ConformX Provides Stability Through the Changes
JMAC Lending initially partnered with Docutech because the cost-effective documentation technology capabilities met the lender’s business and compliance needs. Additionally, the lender found that competing providers were not a sufficient match for the company’s specific demands and recognized Docutech’s product suite as a platform with strong data integrity capabilities.
“When we decided to convert to LendingQB, the documents were generated correctly from start to finish. Docutech’s technology has allowed us to maintain a business-as-usual mentality, and we feel fortunate that we have not had to experience significant hurdles in regards to upholding compliance,” said Anthony Pham, controller for JMAC Lending.
As the lender began the LOS conversion process, they were impressed with Docutech’s ability to smoothly transition from one platform to another while still ensuring that all documents were generated correctly and maintained compliance. The lender noted Docutech’s responsive customer service as key to the transition.
“Docutech did an outstanding job supporting us in the transition to our new LOS platform, and their team has been responsive from the very beginning,” Pham said. “Having the ability to transfer data effectively and efficiently has been extremely helpful during a time of transition, and we are confident that Docutech will continue to surpass our expectations.
The Future: Prepared for 2015 Disclosure Reform
Looking towards 2015, JMAC Lending expects to avoid hurdles implementing the CFPB’s disclosure reform, and anticipates negligible changes to their business model as Docutech’s technology continues to help the company generate, deliver and track both disclosures and closing documents.
“As the CFPB’s RESPA/TILA reform approaches, it is more important than ever to take the necessary steps to automate as much of the disclosure process as possible,” Pham said. “Docutech takes the headache out of disclosure reform so that we can focus on ensuring we are prepared operationally for the changes and educating our staff and borrowers on how the changes affect them. This helps us to strengthen our business and ensure our continued growth long past the Aug. 1, 2015 deadline.”
About Docutech
Since 1991, Docutech Corp. 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 website at www.docutechcorp.com.
About JMAC Lending
Based in Irvine, CA and founded in 2007, JMAC Lending Inc., has originated over 30,000 mortgage loans, thereby, becoming one of the 30 largest wholesale lenders in the industry. JMAC Lending leverages its exceptional financial strength and credibility with investors to offer a full array of competitively priced agency, FHA, VA, Jumbo and Non-QM products. JMAC aims to provide the most comprehensive customer service and support, operational effectiveness and innovative technology in the industry to establish faster funding times and close more loans. For more information, visit www.jmaclending.com.