Docutech Insights

The Countdown to UCD is On

Posted by Justin Summers on Jan 10, 2017 9:00:00 AM

One of the most significant data changes coming in 2017 will be the delivery of the Uniform Closing Dataset (UCD) to Fannie Mae and Freddie Mac, which becomes mandatory on September 25, 2017. The UCD is a component of the GSEs’ Uniform Mortgage Data Program® (UMDP®) which defines data initiatives for loan closing, collateral, appraisal and loan delivery, in order to enhance data quality and standardization for the industry. UCD defines common industry data around the Consumer Financial Protection Bureau’s (CFPB) integrated disclosure laws; lenders will now be able to transmit the CFPB Closing Disclosure documents and data electronically. This way, regulators and the GSEs see “what the borrower sees.” The files also create an accurate loan file that is consistent for all lenders who sell loans to the GSEs.


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Topics: Compliance

Evaluating the CFPB – Cash to Close and the Down Payment Problem

Posted by Docutech on Jan 5, 2017 9:00:00 AM


Recently, we provided a comment letter for the CFPB. We covered a great deal of ground in our letter and could only give you the briefest of overviews in our post. After it was published, the post got a lot of attention and we were asked for more specifics about our comments.


We’ll dive a bit deeper into the information we sent the CFPB in order to answer those questions. The first topic we want to tackle is the Cash to Close table and the issues surrounding it, especially the potential confusion facing borrowers in situations where closing costs are financed.


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Topics: Compliance

Docutech CEO Earns Vanguard Award from HousingWire

Posted by Docutech on Dec 13, 2016 9:00:00 AM

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Ty Jenkins founded Docutech with a vision of how to simplify the mortgage loan document process and guarantee compliance. Twenty-five years later, Jenkins has led Docutech to become one of the nation’s premier mortgage document and software providers. He has become an expert and resource regarding compliance issues and document automation in the industry.


As a testament to his accomplishments, Jenkins was recently honored by HousingWire as one of the 2016 Vanguard Award recipients for his leadership in the mortgage industry. The award honors leaders who have had an undeniable influence on the housing economy, and Jenkins’ efforts have allowed our company to be at the forefront of growth within the mortgage market.


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What’s Next for eNotarization

Posted by Docutech on Dec 6, 2016 9:00:00 AM

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Recently, our own Harry Gardner penned an article for the October issue of Mortgage Banking magazine entitled, “The E-Notarization Challenge: 50 States of Grey.” As Gardner pointed out there, getting all 50 states to fully support electronic notarization is a serious challenge facing the industry. We need to overcome it if we hope to have end-to-end electronic mortgages.


We caught up with Gardner recently and asked him for an update on the status of eNotarization and what has changed.

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Topics: Technology

HMDA is the Next Big Regulatory Wave Bearing Down on Lenders

Posted by Fred Gooch on Nov 22, 2016 9:00:00 AM


Congratulations! You’ve survived TRID. You’ve adjusted to the Qualified Mortgage standards. All of your loan officers have been licensed in compliance with the NMLS standard.


But don’t relax now. The CFPB’s next wave-the Home Mortgage Disclosure Act (HMDA) – is bearing down. While the revisions to HMDA will be less intrusive than the recent TRID changes, this is still a major revision to a law that has not changed in more than a decade. The good news is that the standards do not go into effect until January 1, 2018. This gives lenders and their technology partners a little over a year to prepare.


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Topics: Compliance

2016 MBA Annual Convention Recap

Posted by Docutech on Nov 17, 2016 10:17:57 AM


It’s that time of the year again! No, not Thanksgiving or Christmas, I’m referring to the MBA Annual Convention. Just a few short weeks ago, the best and brightest minds in the mortgage industry headed to the industry’s most important event of the year with the goal of absorbing as much information as possible from the various keynote speakers, sessions and other attendees moving about the convention center.


The 2016 MBA Annual Convention took place in windy Boston, Mass. where close to 200 of the mortgage industry’s leading companies showcased their latest and greatest innovations for hundreds of attendees, including a surprise appearance from actor Kevin Costner. In years past, technology has taken center stage at MBA and this year continued along that same theme.

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Providing a Comment Letter to the CFPB – Docutech’s Take on Current Rules

Posted by Fred Gooch on Nov 3, 2016 9:00:00 AM


As the Consumer Financial Protection Bureau (CFPB) works to refine the rules it has established for our industry, we are called upon to provide comments to help the Bureau work through that process, and having lived through the earlier iterations of the CFPB’s rules, it is in our best interest to do so.


Most recently the CFPB asked for comments on its TRID proposed changes, and we felt it was important to provide a comment letter because we have witnessed firsthand the struggles our clients have had adjusting to the TRID rules. It has become clear that the current rule still has much ambiguity that has caused some confusion in our industry. Over the past year, we have worked very closely with LOS providers and our clients’ internal counsel to provide automation that allowed them to operate according to their own interpretations of the rule, which varied widely.


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Topics: Compliance

Beyond TRID – Getting Ahead of 2017’s Other Compliance Changes

Posted by Fred Gooch on Oct 27, 2016 9:00:00 AM



While the proposed changes to TRID are certainly generating a lot of attention from lenders planning their 2017 compliance priorities, there are several other developments lenders should keep an eye on. These other regulatory issues affect not only the documents used in applications and closings, but also in reporting the annual loan data required by the Home Mortgage Disclosure Act (HMDA).


By preparing now, lenders and their technology partners can ensure that there are no obstacles to smoothly rolling out the new requirements.

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Topics: Compliance

TRID 2.0 – Clearing the Clouds of Uncertainty

Posted by Fred Gooch on Oct 11, 2016 11:19:54 AM

TRID 2.0 – Clearing the Clouds of Uncertainty


After nearly nine months of watching lenders struggle to fully implement the TILA-RESPA Integrated Disclosures (TRID) regulations that went live in late 2015, the Consumer Financial Protection Bureau (CFPB) released a series of proposed amendments. While there are no large individual changes, depending on a business’s practices, there are several small tweaks that could greatly impact the lender’s processes and procedures.


Understanding what is – and what is not – in the proposed changes will help lenders prepare for the next phase of TRID.

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Topics: Compliance

Where is Your eClosing Platform?

Posted by Harry Gardner on Oct 6, 2016 9:00:00 AM



The mortgage industry continues to progress slowly toward the Holy Grail of a completely paperless process. As different technology providers enter the eMortgage space, a variety of partnership arrangements have evolved in order to piece together the various components needed for a fully electronic mortgage solution. Let’s explore those components, the different ways they can be assembled, and the possible advantages and downsides.


First, you need the documents themselves, of course. Mortgage disclosure and closing documents are typically generated either by the Loan Origination System (LOS) software, or by a third-party doc provider like Docutech. LOS-generated documents typically don’t cost extra for the lender, but may involve tradeoffs in terms of compliance quality, custom doc management, and responsiveness – and the LOS vendor may not rep and warrant their legal compliance the way a doc provider would.


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Topics: Technology