Docutech Insights

Harry Gardner

EVP of eStrategies at Docutech Corporation
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Recent Posts

Three Critical Capabilities Your Next Doc Prep Partner Must Deliver

Posted by Harry Gardner on Jan 26, 2017 9:00:00 AM

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The constant onslaught of new regulations over the past six years has forced lenders to become more nimble when adapting to change and innovations. Compliance concerns are tightly linked to nearly every technology decision, whether related to documents, data integrity or reporting fair lending.

 

Embracing the changes needed to address the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act has become a critical imperative for lenders that want to remain in the business. Making the wrong choice when implementing a new technology platform can be as serious as letting older technology drive you out of compliance.

 

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Topics: Customer Service

Where is Your eClosing Platform?

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

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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

Preparing for Electronic Mortgage Lending

Posted by Harry Gardner on Sep 20, 2016 9:00:00 AM

Preparing for Electronic Mortgage Lending 

Having been in the business of helping lenders on the path to paperless for a good portion of our 25 years of service, we have seen many management teams approach eMortgage. Because this territory is so new for many, some companies stumble or hold back when they are on the very cusp of updating their institutions for the future. Fortunately, today there are many great resources available for the lender who wants to prepare for and then enter the world of electronic mortgage lending.

 

Resources to help

Almost every lender knows of or has at least heard about the many benefits of going paperless. They understand the time and cost savings, the improvements to process flow and the compliance benefits. But too often they just don’t know enough to make the decision to move forward and they stall.

 

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Topics: Technology

How to Ensure a Solid eSignature Experience

Posted by Harry Gardner on Aug 30, 2016 9:00:00 AM

How to Ensure a Solid eSignature Experience

For most industries in which signing on the dotted line concludes the transaction, putting a solid eSignature experience in place is pretty straightforward. Many companies simply push a signature pad across the desk instead of a paper document. Things aren’t quite that simple in the mortgage business. Here, we ask borrowers to sign many documents throughout the entire mortgage process. Some of the docs must be executed early in the process, others at least three days prior to close and then even more at the closing table. Establishing a consistent, easy-to-use, seamless eSigning experience for the borrower across the entire mortgage origination timeline has been problematic in the past. Not anymore.

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Topics: Customer Service

2016 ESRA Summer Meeting Recap

Posted by Harry Gardner on Aug 23, 2016 9:00:00 AM

2016 ESRA Summer Meeting Recap

With most conferences we attend, there are multiple speakers and comprehensive sessions spread out across several days; however, in the case of this year’s Electronic Signature & Records Association (ESRA) Summer Member Meeting, immersive sessions and speakers were jam packed into one in-depth day.

 

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Topics: Technology

Time to Change Your LOS? Maybe, it’s Time to Change Your Mortgage Doc Technology Too

Posted by Harry Gardner on Jul 21, 2016 9:00:00 AM

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Experienced mortgage origination executives will tell you that lenders tend to change their loan origination systems (LOSs) about every five years. There are many reasons for this, but the most common is that the firm’s top lending executives switch companies and want to manage their operations in ways that made them successful in the past. They tend to bring their LOSs with them into their new institutions. Increasingly, when a lender changes its LOS, we also see them taking steps to change out their mortgage document technology as well.

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Topics: LOS Integration

Battle Royale: The Struggle Between SMART Docs and PDF Forms for Mass Acceptance

Posted by Harry Gardner on Jul 8, 2016 9:00:00 AM

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Do you remember Beta videotapes? How about 5.25-inch floppy disks? Eight-track tapes? Each of these technologies fell victim to a rival format – VHS, 3.5-inch floppies and cassette tapes – which in turn have all faded away as better technologies like DVD, CD-ROM and MP3 have become available.

 

The mortgage industry has a similar showdown looming. With lenders and investors rapidly adopting more electronic documents to better comply with TRID and save time and money, two eDocument formats have squared off.

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Topics: Technology

Delivering an Excellent Consumer Experience in the Mortgage Loan Process

Posted by Harry Gardner on Jun 28, 2016 9:00:00 AM

Docutech_wp_blog_2.jpgIn our recent white paper, “A New Home, A New Life - Improving the Borrower Experience” we talk about ways lenders can be a part of the homebuyer’s home purchasing bliss instead of an annoying part of a difficult process that the consumer would rather do without.

 

In a previous post we talked about the things that have the most impact on the borrower’s experience. Lenders have the capacity to deliver excellent customer experiences today, but it requires them to make the right decisions about the technology they employ, the processes they follow and the partners they choose.

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Topics: Customer Service

Efficiency and Compliance Through LOS Pushback

Posted by Harry Gardner on May 10, 2016 9:00:00 AM

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Consumers and regulators are pushing for mortgage transactions with less paper, more electronic signatures and the higher customer satisfaction that comes along with them. One challenge has been the need to keep the Loan Origination System (LOS), the lender’s database of record, in sync with the document vendors that supply modern electronic disclosure and closing documents. That’s changing now that innovative doc prep software is making it easier to accomplish a two-way LOS data exchange.

 

There are three general forms of information that must move between the LOS and the document management software system during the normal loan origination process: The loan data used to create the documents, the loan documents themselves, and events (viewing, signing) that occur with those documents. It’s the latter type of data sync that can really make life easier on lenders. To provide information back to the lender’s LOS on six different types of events and 26 specific document events, we developed our two-way LOS data sync capability, or LOS Pushback.

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Topics: Compliance

Bridging the Closing Gap for eMortgage

Posted by Harry Gardner on Apr 19, 2016 9:00:00 AM

EMortgage-465931-edited.jpgHow many completely paperless mortgages did you close and deliver this year? For most lenders, the answer is still zero.

 

Despite the great gains made in creating the infrastructure and technological capabilities to support a fully electronic mortgage process, there is still one major gap in the paperless mortgage chain – the closing table.

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Topics: Technology