DEC 17, 2013 3:18pm ET

Capsilon Updates Loan Transfer Product

Print
Reprints
Email

The mortgage technology firm Capsilon has improved a product to allow banks to transfer loans to financial firms and government-sponsored entities, it said Tuesday.

Capsilon’s DocVelocity system now allows companies to send loans individually or in groups to seven financial institutions, said the San Francisco-based technology provider. The financial firms that the loans can be sent to are Citigroup, JPMorgan Chase, Flagstar and Wells Fargo, and government-affiliated entities Fannie Mae, Freddie Mac and the Federal Housing Authority.

DocVelocity allows the loans to be automatically transferred in the format prescribed by each entity, Capsilon said.

"Our network delivery capability improves the way loan documents are submitted to GSEs and prominent financial institutions," said Capsilon chief executive Sanjeev Malaney in the news release. "This capability empowers lenders of all sizes to seamlessly meet the complicated formatting and transmission requirements of these large institutions."

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Twitter
Facebook
LinkedIn
Already a subscriber? Log in here
Please note you must now log in with your email address and password.