DocuTech, PriceMyLoan Partner to Offer Lenders Precision Loan Documents

Seamless integration enables lenders to produce guaranteed compliant disclosures, closing docs

IDAHO FALLS, Idaho (BUSINESS WIRE) - March 14, 2011 - DocuTech Corp. (DocuTech), a leading provider of mortgage compliance documents and initial disclosures for the mortgage industry, has partnered with PriceMyLoan (PML), a pricing and automated underwriting engine designed for residential mortgage lenders, to provide an integrated service for compliant mortgage documents and disclosures.

“By having every data field automatically exported from our LOS into ConformX, our users can generate only the documents they need and know that the compliance is guaranteed to be accurate.”

PriceMyLoan’s Web-based loan origination software (LOS) automates the underwriting, pricing and closing loans. By integrating DocuTech’s ConformX, the LOS now generates guaranteed compliant mortgage loan documents and disclosures based on the data imported from the LOS. Lenders using the programs benefit from the time savings and improved accuracy that comes from not having to rekey data between systems.

“Maintaining compliance is of the utmost importance to our lenders,” said Linn Cook, director at PriceMyLoan. “By having every data field automatically exported from our LOS into ConformX, our users can generate only the documents they need and know that the compliance is guaranteed to be accurate.”

The DocuTech, PriceMyLoan partnership enables lenders to easily generate and order only the closing documents needed for each loan directly within the PML platform. This ensures that no wasted documents are printed that may confuse borrowers, increase closing times or increase storage costs. Users of the integration are able to generate documents and test for compliance with federal and state regulations in just a few mouse clicks, compared to other systems that require navigating multiple screens and tabs to ensure all data is entered.

“PriceMyLoan is known for their comprehensive, online approach to automating loan processes,” said Scott K. Stucky, DocuTech’s Chief Operating Officer. “ConformX brings the closing office online, ensuring that lenders can maximize staff time and minimize costs with precise document packages tailored to fit each loan’s individual geographic and investor requirements.”

PriceMyLoan utilizes the newest Web technology and combines it with a dedication to high-quality and high-touch customer service. The MISMO–based XML interface seamlessly transfers a comprehensive set of data that minimizes manual rekeying of information, which reduces error and minimizes risks. The LOS provides customers with advanced, cost effective solutions that result in shorter loan cycle times, improved pull-through rates and higher productivity.

ConformX serves as a remote closing office from any Internet connection. The software securely delivers printed-paper, e-mail and Web-posting document options. ConformX is both time and cost effective, enabling lenders to customize business process rules to meet investor, state and federal requirements; enhance security; require high-cost loan checks and ensure that only the needed documents are printed.

About PriceMyLoan

PriceMyLoan is a pricing and automated underwriting engine designed for residential mortgage lenders. Originally developed in 2004, PriceMyLoan is delivered as a web browser-based software as a service (SaaS) application with the goal of enhancing productivity, reducing IT dependency and accelerating the return on investment (ROI) for its clients. PriceMyLoan utilizes the latest advances in web technology development using XML and MISMO standards, and combines it with a dedication to high-quality, high-touch customer service that is renowned throughout the mortgage technology industry. For more information, please visit www.pricemyloan.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 or follow them on Twitter at @DocuTech.

Contact:

David Jones

DocuTech

(678) 781-7238

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Contact: Linn Cook
PriceMyLoan
(714) 957-6335
lncook@pricemyloan.com
www.pricemyloan.com