Did You See Our Press? DocuTech Provides Insight into Compliance

DocuTech does more than just make great software to help your document compliance. We are also a trusted resource for the mortgage industry trade press, and we’ve been featured several times this year. We wanted to share some of our best pieces from 2009 to kick off the new year.

On December 31, American Banker turned to DocuTech’s vice president of Compliance, Fred Gooch, to talk about some unexpected changes resulting from the new RESPA rules.

Fred Gooch, the vice president of compliance at DocuTech Corp., an Idaho Falls provider of compliance services and documentation technology, said that because lenders are bound by the tolerance levels on the good-faith estimate, they are searching for ways to control third-party settlement charges.

"The real issue is how do lenders control costs that they really can't control but are on the hook for if they are out of tolerance," Gooch said.

One way, he said, would be to negotiate contracts with third-party vendors putting them on the hook if any of the charges exceed estimates.

Fred also shares his insight in the November 30 issue of National Mortgage News.

Compliance aside, applying technology to deal with the new GFE will also make lenders more efficient. Throwing more people at this won't make for a consistent, trusted process. "Yes, technology is the only efficient way to get ready for RESPA and the new GFE," said Fredric Gooch, general counsel and vice president of compliance at DocuTech.

Read more insight into the wisdom of using technology to manage GFE compliance from Fred in the November 30 issue of National Mortgage News or online at Broker Universe.

We’re also proud that DocuTech was named a Mortgage Technology Top 50 Service Provider in the July issue this year. The list recognizes those companies in the mortgage industry that demonstrate functional value to lenders and the ability to keep those lenders apace of the technology demanded by changing regulatory demands.

DocuTech, in conjunction with their integration with LOS provider Del Mar DataTrac (DMD), was also a finalist for Mortgage Technology’s annual Mortgage Technology Awards in the Synergy Category. 1st Advantage Mortgage was a co-nominee with DocuTech and DMD for the lender’s ability to reduce its time and costs associated with processing closing documents by leveraging the integration between DataTrac®, DMD's leading back-office hub for lenders and ConformX, DocuTech's Web-based solution for creating compliant closing documents.  You can view our nomination video online at http://mortgage-technology.com/awards/video/?category=5.

Mortgage Technology also turned to DocuTech when it needed advice on preparing for RESPA. Check out Fred Gooch’s article on making sure lenders are prepared for the new regulations at the magazine’s Web site.

Want to know what we’re saying in 2010? Keep up with our breaking news and feature coverage articles all year long at our News Page.