DocuTech's Web-based document solution, ConformX, has been integrated with Commerce Velocity's Spectrum, a Web-based loan origination software (LOS).
The integration enables lenders using Spectrum to access and generate compliant loan documents from any computer with an Internet connection.
‘In today's lending environment, compliance is of the utmost importance," says Umesh Verma, president of Commerce Velocity. "The integration with DocuTech's ConformX enables our lenders to focus on making and closing loans with the assurance that they will always have the correct documents for every loan."
Commerce Velocity's Spectrum provides lenders a commitment-to-lend decision at the point of sale, applies risk models and workflow rules to address and repair problem loan files and verifies that those loans comply with investor guidelines.
ConformX securely delivers printed-paper, e-mail and Web-posting options from any Internet location. Lenders can also customize business process rules to meet state and federal requirements, enhance security, require high-cost loan checks and ensure that only the needed documents are printed, the company says. This integration imports loan data directly into ConformX.
SOURCES: Commerce Velocity, DocuTech Corp.