In the first half of this year, DocuTech Corp., a compliance services and document technology firm, has added 25 new clients.
"We are experiencing one of the most trying times in the history of the mortgage industry with regard to meeting regulatory demands and managing numerous operational challenges," said Scott K. Stucky, chief operating officer of Idaho Falls, Idaho-based DocuTech.
With the addition of the new clients, the company has had 14 consecutive quarters of growth in a period when much of the mortgage business has been contracting.
Stucky added the company's technology is simple, yet it can draw document packages in less than five minutes. There is a 100% compliance guarantee, which, he said, "allows us to meet the growing needs of lenders facing complex regulations."
Among the company's products are ConformX and HCL/PredCheck.
ConformX, which creates documents, allows for delivery through printed paper, e-mail and Web posting options from any Internet connection. Lenders have the ability to customize documents.
HCL/PredCheck is short for High Cost Loan and Predatory Lending Check. It includes state-specific tests designed to uncover additional predatory violations Truth in Lending Act rescission period verification and a status check for Patriot Act compliance.
The fulfillment center creates a comprehensive audit trail and allows DocuTech to store electronic copies of document packages for up to three years.
