Mortgage document preparation technology vendor DocuTech acquired competing doc prep technology Docs3D in a deal announced Tuesday.
Idaho Falls, Idaho-based DocuTech acquired the software and customer base of Lender Support Systems Inc., the Poway, Calif.-based developer of the Docs3D technology from parent company Emphasys.
The Docs3D client base includes regional banks and credit unions, which will continue to receive support from DocuTech, the company said in a press release. Terms of the transaction were not disclosed.
The consolidation of doc prep vendors comes just 15 months after Emphasys acquired LSSI in Sept. 2010. Miami-based Emphasys offers various software and other services to public housing authorities and housing finance agencies, including accounting, affordable housing, banking, borrower portal, case management and other offerings.
DocuTech's software, ConformX, is a doc prep offering that generates initial disclosures and closing documents, as well as compliance-related features like high cost loan and predatory lending checks. The company employs an in-house legal team that monitors regulatory changes to ensure compliance. Its software integrates with loan origination systems, as well as fraud technology from Interthinx and the
