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In The News
GSEs, Private Mortgage Market Need Each Other
May 24th, 2013DocuTech’s Chief Operations Officer, Scott K. Stucky, published in AMERICAN BANKER Magazine, addresses how GSE’s and the Private Mortgage market need each other for future growth and sustainability. “It’s been five years since the mortgage meltdown. Mistakes were made and expectations were lowered. It’s now time we look . . . ” Read More: http://www.americanbanker.com/bankthink/gses-private-mortgage-market-need-each-other-1059326-1.html?zkPrintable=1&nopagination=1
DocuTech Study: Closing Costs Up 0.4 Percent Since December 2012
May 13th, 2013As the cost of originating a loan has increased in 2013, consumers are shouldering more closing costs. In its quarterly study on closing costs, DocuTech found that the median closing costs in Q1 2013 increased by 0.4 percent from December 2012 to March 2013. Closing costs had decreased by 0.5 percent from April to November [...]
Putting Two CFPB Rules under the Microscope
April 7th, 2013March’s National Mortgage News Compliance Matters blog post, written by Fred Gooch, general counsel and vice president of Compliance, was a continuation of February’s blog post that took a look at the first three Consumer Financial Protection Bureau (CFPB) announced rules. March’s post focused on the next two CFPB rules that are effective June 1, [...]
DocuTech Study Finds Closing Costs Drop Half a Percent in 2012
March 10th, 2013DocuTech announced in February that the median closing cost among the company’s nationwide lender base decreased by 0.5 percent on a baseline from April to November 2012. The findings are the first of a quarterly tracking effort to highlight how changes in the mortgage industry are impacting the cost for consumers to close loans. In [...]
DocuTech Continues Rapid Company Expansion, Hires Nine New Employees
March 10th, 2013DocuTech has continued its company expansion to meet the growing demands of its partners, customers and the industry by hiring nine new employees in the first couple months of 2013 to support larger lender customers and enhance compliance capabilities. The new employees contribute to the company’s continued success in the Implementation, Professional Services and Support [...]
January’s National Mortgage News Compliance Matters Blog Post
February 10th, 2013January’s National Mortgage News Compliance Matters blog post, written by Fred Gooch, general counsel and vice president of Compliance, centered on the largest milestone of the Consumer Financial Protection Bureau (CFPB) since its inception in January 2011. On January 10, Qualified Mortgage (QM) and the Ability-to-Repay rules were announced, mandating that lenders must make a [...]
DocuTech Processes More Than 24,000 Documents Per Hour for National Lender
February 8th, 2013DocuTech recently announced that its flagship document compliance software, ConformX, sustained more than 50,000 document preview requests for baseline, stress and burn tests – the results of an in-house scalability test for a large, national lender. The burn test conducted on ConformX yielded more than 109,000 fulfilled documents, of which 80 percent were eDelivery-capable. The [...]
CFPB Issues Three Final Rules
January 11th, 2013On January 10, 2013, the Consumer Finance Protection Bureau (CFPB) issued three final rules implementing various sections of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). These rules will be effective one year from the date of issuance, so they will take effect on January 10, 2014. The following is a brief summary [...]
DocuTech’s Monthly National Mortgage Initiatives – January 2013
January 6th, 2013A recent blog post by Fred Gooch, general counsel and vice president of Compliance, was featured on NationalMortgageNews.com. It is the first of a series of monthly compliance-centered pieces that will be available for reading online throughout 2013. Providing monthly analysis of top compliance and mortgage industry-related issues and news will allow us to be [...]
DocuTech and the CFPB’s Project Catalyst
January 6th, 2013Facing a plethora of proposed rules to simplify the loan origination process and marketplace heading into 2013, the Consumer Financial Protection Bureau (CFPB) launched Project Catalyst in November 2012 to foster consumer-friendly innovation in the marketplace, and to provide efficient, open lines of communication between consumers, originators and the Bureau. Project Catalyst’s mission believes that [...]
