First Bank Mortgage Saves Document Response Time and Improves Volume with Lending Technology

Who:  Lynn Holley, senior vice president of Operations
Leslie Kromke, mortgage officer
First Bank Mortgage, Augusta, Ga.

When:  DocuTech customer since December 2000, ConformX customer since 2006

What:  First Bank Mortgage, a division of First Bank of Georgia, first converted to DocuTech in 2000 from a competitor. In 2006, the lender added DocuTech’s ConformX, a Web-based compliance and mortgage document system. First Bank Mortgage quickly embraced the new Web-based system due to ease-of-use and quick response time from the DocuTech support team. ConformX shortened the loan process for First Bank Mortgage and integrated smoothly with their existing LOS, Del Mar DataTrac. Through its partnership, DocuTech has helped First Bank Mortgage better serve its borrowers, increasing business.

Contacts:

David Jones
678.781.7238
djones@williammills.com

Elizabeth Salter
678.781.7224
elizabeth@williammills.com

The Challenge:

In 2000, First Bank Mortgage, a division of Augusta, Ga.-based First Bank of Georgia, was looking to improve document compliance and maintenance. Their previous provider was not meeting their requirements and could not customize the loan documents to fit First Bank Mortgage’s needs. As a result, First Bank Mortgage began searching for a new provider. At the recommendation of a loan officer with previous experience using DocuTech, First Bank Mortgage examined DocuTech and its document and compliance software.

“Our previous provider was not able to acclimate to our bank or the overall personality of who we are and how we run our business,” said Lynn Holley, senior vice president of Operations for First Bank Mortgage. “The need to keep compliance documents up-to-date was not being met. Using DocuTech, the changes and special requests we needed have been met, and our expectations continue to be exceeded.”

First Bank Mortgage needed to be able to process loan documentation efficiently, while also satisfying their investors’ compliance needs. DocuTech delivered documents that could be customized for First Bank Mortgage, which guaranteed compliance with industry and regulatory requirements.

The Solution:

First Bank Mortgage selected DocuTech, because the company provided the best overall platform, while also being the most cost-efficient. In 2006, First Bank Mortgage upgraded from DocuTech’s server-based services to ConformX®, a Web-based solution that transforms an Internet connection into a 24-hour closing office, to take advantage of online capabilities and additional cost-savings. In addition to providing online support for closing documents, ConformX guarantees that all document sets are compliant with all federal and state regulations whether standard or customized. The system also supports e-documents, prepayment penalty management and disclosures.

First Bank Mortgage said that DocuTech’s implementation was one of the smoothest they have ever experienced.

“Normally, you remember implementations because of problems and hindrances,” said Holley. “As a result of DocuTech’s timely responses, I’m can’t remember a single situation that proved to be difficult. DocuTech offers a complete document solution that is better than our last provider and they go a step further to ensure they have the best guarantee in the business.”

During the integration process, DocuTech’s software flowed seamlessly with First Bank Mortgage’s LOS, Del Mar DataTrac®. DocuTech’s guaranteed compliance provides First Bank Mortgage with a “safety net” that the correct documents are available from loan origination through closing; something its previous document provider had trouble delivering and maintaining.

The Results:

According to Holley, ConformX has saved First Bank Mortgage staffing resources and sped up loan processing, resulting in increased volume compared to their previous provider. Through this partnership, First Bank Mortgage has been able to improve their customer service quality to their clients, because of the timesavings realized with ConformX. The bank now spends only seven minutes preparing documents for closing because the data only has to be entered once, increasing efficiency and customer satisfaction. As a result, the lender can concentrate more energy and resources on the company’s core business – closing loans.

With DocuTech’s ConformX, First Bank Mortgage is also able to host information and material online at a lower cost than with their previous provider. The bank has an added benefit of faster turnaround times for loans, which have proven vital with last minute closing. Leslie Kromke, mortgage officer at First Bank Mortgage, said that in scenarios requiring a last minute closing to be initiated, due to the seamless integration of DocuTech and the bank’s LOS, the loan package could be completed and sent to the closing table in less than 15 minutes. These time savings help First Bank Mortgage maintain higher volumes and profits.

THolley also praised DocuTech’s customer service as a key reason the partnership has worked so well over the years.

“The attentiveness that DocuTech gives us is an additional bonus that is unmatched,” continued Holley. “Even though we are two time zones away, they always call us back and are able to quickly and accurately answer our questions. We consider DocuTech an extension to our business plan and would openly recommend their services to others in the industry.”

About First Bank Mortgage

First Bank Mortgage, a division of First Bank of Georgia, is a residential mortgage lender based in Augusta, Ga. First Bank Mortgage funds loans in seven states in the southeastern United States.

For more information, please visit http://www.fbmtg.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.

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