Docutech Insights

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

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

3 Things Consumers Demand for an Optimal Signing Experience

Posted by Docutech on Aug 9, 2016 10:58:42 AM

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In every person’s life there are significant moments that will stick with them forever--graduating high school, moving out of Mom and Dad’s house, purchasing their first car and of course buying their first house. While the process of buying a home can be one of the most exciting times in a person’s life, today’s complicated home buying process can quickly put a damper on the situation.

 

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Topics: Customer Service

4 Things Borrowers Hate About Getting a Mortgage

Posted by Docutech on Aug 2, 2016 10:08:28 AM

rsz_istock_81143815_xxxlarge.jpg Buying a new home is a major milestone in a person’s life. It’s also one of the most stressful and difficult financial transactions most people will ever undertake.

 

Good lenders have always focused on making the home buying process as smooth and stress-free as possible. However, regulations passed over the past five years have overwhelmed lenders to the point where they have to pay more attention to highly complex laws, leaving the customer experience as an afterthought. With a minefield of investor and regulator rules to traverse, making sure that the consumer is enjoying the process is difficult to master.

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Topics: Customer Service

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

Helping Lenders Keep Borrowers Buoyant

Posted by David Thompson on Jun 16, 2016 11:28:29 AM

docutech_wp_blog_1_image-962260-edited.jpegBuying your first home is a very exciting time. Nothing is quite the same as standing on the sidewalk in front of your new home and knowing that you hold the keys to your dream. But, as a colleague of mine once pointed out, “What’s not so exciting is looking at how much it’s going to cost you, and thinking that moving back into your parent’s basement isn’t such a bad idea after all.”

 

This is so true that we wrote a white paper around the idea. If lenders can find a way to help borrowers hold on to that feeling of excitement and accomplishment, it will increase overall borrower satisfaction with our process. It will also increase repeat and referral business.

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Topics: Customer Service

The importance of borrower experience in mortgage lending

Posted by Jake Butikofer on Apr 12, 2016 9:00:00 AM

unspecified-914949-edited.jpgGetting a mortgage is a big deal. You’d think all lenders would recognize this and make extra effort to ensure the borrower experience is as smooth as possible. But just do a little online research, and you’ll learn that most lender reviews and blog posts reveal that the majority of borrowers are unhappy, dissatisfied customers. 

 

Right now you may be thinking, “Of course the reviews are negative because dissatisfied customers are much more likely to report their bad experiences than happy customers are.” Or from personal experience you may be of the opinion that nobody is "overjoyed" when it comes to getting a loan and paying it back, especially first time home buyers. But even one happy customer can create a ripple effect of referrals and repeat business, so why not strive for excellence with every client?

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Topics: Customer Service

What Sets Good Loan Document Providers Apart: Clues to Success

Posted by Justin Summers on Apr 5, 2016 9:00:00 AM

CluestoSuccess-472267-edited.jpgWith so many required changes to the data and documents we deliver to our borrowers, partners and the government; many loan originators are considering necessary upgrades to their technologies. But how can you tell the most successful vendors apart from those who cannot deliver? You must seek out the clues to success.

 

Clue 1: Good loan doc providers perform exhaustive initial discovery

When upgrading technology, a vendor who understands the team and the senior executives’ expectations and resources is pivotal to success. Knowing all of the requirements and, more importantly, the expectations of senior management before the first step is taken is a best practice followed by the best vendors. Initial due diligence is key to any successful mortgage document technology implementation.

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Topics: Customer Service

Kris Perez: Some Mortgage Technology Firms Didn't Start on TRID Early Enough

Posted by Docutech on Mar 23, 2016 11:00:00 AM

Person of the week: Kris Perez is customer success manager for Idaho Falls, Idaho-based Docutech, which provides compliance services and documentation technology for the mortgage industry. MortgageOrb recently caught up with Perez to get her views on why certain technology vendors were singled out for not adequately meeting the Oct. 3 deadline for implementation of the Consumer Financial Protection Bureau’s (CFPB) new TILA-RESPA Integrated Disclosure (TRID) rules, as well as how vendors should prepare for the upcoming expansion of reporting requirements under the Home Mortgage Disclosure Act (HMDA).

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Topics: Customer Service