DocuTech, a provider of compliance services and documentation technology for the mortgage industry, and South Miami, Fla.-based Gallagher Financial Systems Inc. (GFS) have signed a contract which will integrate DocuTech's Web-based document solution, ConformX, with GFS' NetOxygen loan origination software (LOS).
The NetOxygen system allows lenders to work with a rules-based, service-oriented platform that provides automated calculations and auditing capabilities throughout the life of the loan. Because ConformX and NetOxygen are fully Web-enabled, users will be able to access loan data and documents from any computer with an Internet connection, enabling lenders to work with traditional paper mortgages, paperless mortgages and e-signed mortgages. ConformX is also compatible with Category 1 SMART Documents and eSigned PDF documents.
The combined services will provide NetOxygen customers with document services that reduce loan processing time by automatically generating compliant state and federal documents, the companies state. In addition to closing documents, lenders will also have access to initial disclosures and processing documents. DocuTech's ConformX will also enable NetOxygen customers to transfer data from mortgage documents into electronic forms for reporting and filing.