IDAHO FALLS, IDAHO, Oct. 20, 2015 – Every lender has spent October adjusting to new workflows and document requirements mandated by the Consumer Financial Protection Bureau (CFPB). One key to the successful transition is the smooth integration of document generation technology with loan origination software (LOS). Several lenders, powered by Docutech’s document generation and delivery technology, have successfully closed their first loans using the new Truth-in-Lending/Real Estate Settlement Protection Act Integrated Disclosures (TRID).
Charlotte-based Movement Mortgage successfully closed their first post-TRID loan with no interruptions in mid-October. Company executives cited the ease of generating and delivering the disclosures and closing documents using Docutech as a key to making the transition to the new standards.
“Thanks to our great partnership with these innovative industry leaders, we have delivered what is possibly the first loan under the new TRID guidelines,” said Casey Crawford, CEO of Movement Mortgage. “We are confident that these new regulations will only encourage others in the industry to do what we at Movement Mortgage have always advised our borrowers to do – Know before you owe by having a loan fully underwritten up front before the consumer begins shopping for a home.”
Crawford also cited the strength of the integration between Docutech and their LOS provider, Reno, Nevada-based PCLender as a key factor in complying with TRID.
“We are very supportive of Movement Mortgage’s objectives and are enthusiastic about their milestone,” said Lionel Urban, president of PC Lender. “With our focus on of simplifying today’s complexity, PCLender is appreciative of the efforts Docutech made to ensure our integration operated seamlessly from initial disclosure through closing.”
Docutech’s ConformX™ is innovative software that enables financial institutions to improve the loan experience with dynamically generated customized document packages that reduce operational costs while improving productivity and ensuring accuracy. Docutech also supports digital signatures, enabling lenders to meet consumer demand for the completion of transactions electronically.
“Every time there is a major regulatory change in the financial industry, Docutech has worked tirelessly to ensure our customers have the tools and training needed to handle the changes with minimal disruption,” said Ty Jenkins, founder and CEO of Docutech. “Movement Mortgage and United Shore are just a couple of the many successful examples where lenders have been able to help borrowers achieve their homeownership goals this month while also ensuring accuracy and compliance with the new standards.”
About Docutech
Founded in 1991, Idaho Falls, Idaho-based Docutech offers a wide-range of solutions to institutions all over the world. From document generation and imaging support, to eDelivery, digital signatures and print fulfillment, Docutech sets the standard in providing market-proven technology and unrivaled customer service to you, your workforce and your clients. For more information visit the company’s website at www.docutech.com or follow them on social media at LinkedIn or Twitter @Docutech.