Dynatek and DocuTech Enter Into New Partnership Agreement
Mortgage software developer announces new preferred integrated document provider
Livonia, Michigan, August 28, 2006 – Dynatek, Inc., an established leader in revolutionizing mortgage automation, along with DocuTech, today announced that they have entered into a new partnership agreement. The agreement identifies DocuTech as a preferred integrated document provider and will give Dynatek’s MORvision users seamless access to DocuTech’s intelligent Web-based document solution, ConformX™ .
DocuTech has been a member of Dynatek’s Plug-In Partner Network since 2004. Dozens of MORvision customers already use the DocuTech ConformX forms solution via their Plug-In.
This new agreement allows for development of a fully-integrated DocuTech solution, which will replace their current Plug-In and provide MORvision customers with the choice between two distinctive forms solutions – a more traditional forms solution and an on-line solution where DocuTech manages all of the compliance for the lender. Dynatek anticipates delivery in late 2006.
“Dynatek is very excited about this agreement,” said Dynatek president and CTO, Todd Luhtanen, CMT. “The DocuTech solution will expand on our current forms offerings and provide our customers with two different forms options. It’s a whole new and unique way for our customers to do docs, and provides for our customers who need more flexibility, quicker turn-around for new products, and help managing their forms.”
The DocuTech ConformX product is a service-based solution that provides users with compliance guarantees, flexibility and unique benefits by managing the entire forms process for the lender. It works by seamlessly pulling loan data into ConformX, which launches the DocuTech print engine and a data verification process. Missing information is detected and requested prior to printing. Advanced compliance logic then automatically assembles document packages by state, loan type and investor.
DocuTech’s solution ensures that all form packages are accurate and complete so lenders will not need a special expert on-staff to research new product requirements and assure compliance because it is already done for them. This lifts a substantial burden from the lenders who would prefer not to manage their own compliance or who do not have the infrastructure to do so, as well as provides lenders with more flexibility and quicker turn-around time when rolling out new products.
DocuTech’s service-based solution also allows access to thousands of investor documents, and will create most custom forms for current customers at no additional cost. This means lenders can expand their offerings and respond to market conditions quickly and easily, providing them with additional opportunity for growth and profitability.
“We want to continually improve the way lenders generate compliant loan packages,” said Kirk Reese, DocuTech president and COO. “Our partnership with Dynatek provides lenders a complete solution that guarantees compliance and improves overall efficiency.”
About Dynatek
Founded in 1986 and headquartered in Livonia, Mich., Dynatek has been revolutionizing mortgage automation for retail and wholesale lenders for 2 decades. Dynatek’s MORvision is a flexible solution that automates everything from point-of-sale and web origination through processing, underwriting, closing, secondary tracking and delivery. Dynatek is attributed with a long list of industry innovations including their award-winning Plug-In Partner Network, which seamlessly connects MORvision users to industry partners with just one click; and their unique Control Center, which offers capabilities for eMortgage, business process management, and multi-client support. With Dynatek’s complete mortgage software solution and multi-faceted approach to customer service, the company has earned numerous industry commendations and the respect of hundreds of full-service financial institutions across the nation. For more information on Dynatek or to learn more about the benefits of MORvision, call 800.462.5545 or log on to www.dynatek.com
About DocuTech
Since 1991, DocuTech Corp. (DocuTech) has provided outstanding compliance services and documentation technology for the mortgage industry. To date, DocuTech has the largest, most complete document library in the industry with thousands of customized investor documents, federally and state compliant in all 50 of the United States. DocuTech is also a provider of an all-in-one fulfillment center (DocXcel™) that helps companies to increase the number of compliant initial disclosures, printed and mailed, to prospective borrower within government-mandated deadlines.
DocuTech's software interfaces with leading loan origination systems (LOS) and enables mortgage professionals to generate documents locally, which increases efficiency, reduces time, eliminates errors and omissions and provides added convenience to homebuyers. DocuTech manages and secures all information needed for a loan, guaranteeing accuracy, security and compliance. For more information, call 800.497.3584 or visit the company's Web site at www.docutechcorp.com . |
