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March 28, 2005

Ocwen selects DocuTech to enhance mortgage origination process

West Palm Beach, Florida-based Ocwen, a financial services holding company, has selected document and compliance software from DocuTech, a provider of compliance services and documentation technology for the mortgage industry.

By CBR Staff Writer

According to the agreement, DocuTech’s compliance program will intend to provide Ocwen with tools to streamline its mortgage origination process and reduce liability for mortgage lenders.

The compliance technology will offer closing document services, disclosure services and predatory lending evaluations from within Ocwen’s RealTrans, a web-based service designed to automate and simplify ordering, tracking and fulfilling real estate products and services for mortgage lenders. The closing document services ordered through RealTrans is expected to enable lenders to review closing documents online, eliminating the need for third-party preparation and mailing of hard copies.

In addition, DocuTech said it will blend its ConformX, an online document platform enabling users to download and print documents or transfer loan data, its WebXpress service that allows users to meet government-mandated timelines for initial and closing disclosures, and its DTClassic software, which is designed to seamlessly interface with leading loan origination systems, with Ocwen’s RealTrans to provide a customizable document program.

DocuTech’s solutions enable Ocwen to offer its REALTrans customers a quicker and more efficient way of conducting business, said Ty Jenkins, CEO of DocuTech. Lenders will now have the ability to centralize all fulfillment processing, including the creation of documents for their retail, wholesale and correspondent divisions.

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