How much is one billion?
One billion seconds would take 31.7 years to pass. A stack of one billion-dollar bills would stretch nearly 68 miles into the sky.
And for us at Docutech, one billion is the number of mortgage lending documents ConformX, our dynamic document generation engine, has generated since launching in 2004.
What does it take to generate a billion documents? It starts with a dynamic document generation engine that utilizes a global library of data-driven documents automatically produced based upon loan-level criteria seamlessly integrated with the lender’s loan origination system (LOS). The ability to easily create the disclosures and closing documents needed for each loan are then backed by an unwavering commitment to service and compliance.
While the number of documents generated each year has steadily risen since launching ConformX, the most rapid growth has been in the past three years due in part to the growing demand for digital lending documents that can support eClosing and eSignature capabilities.
As more lenders embrace digital lending, they continue to seek out tools that enable them to extend the digital setting from initial delivery of the disclosure and closing packages all the way through to eRecording. They also look for doc engines that can create accurate, data-driven electronic mortgage documents, including eNotes, which are then automatically and electronically delivered to the borrower to review and sign before closing.
ConformX, along with Solex, Docutech’s eSign and eClosing solution, provides a seamless eClosing process from dynamic document generation all the way to post-closing.
It took Docutech only 13 years to generate one billion documents (an average of 2.5 loan documents per second). Our focus on service, innovative technology and fostering lender and borrower harmony is what led to the one billionth document in 2017, and we look forward to generating one billion more.