IDAHO FALLS, IDAHO, Aug. 31, 2011 – In a move to increase productivity and better support a paperless mortgage office, Orlando, Fla.-based R P Funding converted to DocuTech Corp.’s ConformX® for compliant mortgage documents. The lender selected DocuTech, a leading provider of compliance services and documentation technology for the mortgage industry, due to the full integration with their loan origination software (LOS) and ability to improve closing efficiency and speed by 30 percent.
One year ago, R P Funding made the decision to eliminate all lender fees. As a result, president and founder Robert Palmer sought out a document automation provider that could integrate completely into their LOS, Del Mar DataTrac. Palmer also selected ConformX because the system can keep up with R P Funding’s 10-day closing process and it provides guaranteed compliance with all regulations.
“We are the consumer’s advocate mortgage lender by offering 10-day closing and no lender fees,” Palmer said. “As a result, we have to be incredibly efficient to maintain profitability. DocuTech was the only document provider that was completely integrated into our LOS, supported our paperless processes and provided the compliance accuracy we demand.”
Palmer added that DocuTech also helps the lender provide better service to his customers with precision documents and disclosures that only provide the papers needed for each individual loan.
“Bad document packages are sloppy, waste time at the closing table and raise costs,” Palmer said. “But document packages must also be complete. Compliance errors and inaccuracies are very expensive. DocuTech guarantees that each document set will meet regulatory and investor requirements without adding in unnecessary pages.”
R P Funding is also testing DocuTech’s electronic disclosures services to further reduce the need for paper in the mortgage process.
“Lenders wanting to remain profitable must cut waste out of the pipeline,” said Scott K. Stucky, chief operating officer for DocuTech. “ConformX saves lenders time, improves accuracy and is easy to use. These factors enable lenders like R P Funding to meet the needs of their customers, with services such as no fees, without spending too much on production costs.”
About R P Funding
Orlando, Fla.-based R P Funding is a discount direct mortgage lender serving homebuyers in Central Florida. The lender offers customers no lender fees, low rates and can close loans in 10 days. For more information, visit the lender’s website at www.rpfunding.com.
About DocuTech
Since 1991, DocuTech Corp. (DocuTech) 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 Web site at www.docutechcorp.com.
Download RP Funding Press Release as an Adobe PDF file