NYLX, Desert Docs Form Partnership

Desert Document Services Inc., a Phoenix-based software company serving lenders with loan product management solutions, has formed a strategic partnership with NYLX Inc., a provider of point-of-sale product eligibility and loan pricing technology systems.NYLX will integrate DesertDocs' compliant state-specific initial disclosure packages into its online loan pricing engine, making such disclosures -- required by the Real Estate Settlement Procedures Act -- available to originators with one click. "Given shrinking profit margins, loan originators need an efficient one-step process for ordering RESPA-required initial disclosure packages," said Ruth Thompson, president of DesertDocs. "Originators can use disclosures to lock in borrower commitment to a very tangible offer, increasing the likelihood of closing the sale and reducing the possibility of further rate shopping." The partnership was announced at the Mortgage Bankers Association's 93rd Annual Convention & Expo in Chicago. The companies can be found on the Web at http://www.desertdocs.com and http://www.nylx.com.