Docutech has announced that Detroit-based Quicken Loans has gone live with Docutech's ConformX dynamic document engine.
"Docutech’s flagship solution, ConformX, was specifically developed to deliver the industry’s first truly dynamic document generation engine, providing a balance of productivity and compliance," said Ducutech in a statement. "Rather than static documents, ConformX integrates with a lender’s loan origination system (LOS) to produce data-driven documents that are dynamically generated and placed into the appropriate package. Every relevant data field is imported, defaulted or automatically populated through rules-based intelligence and calculations to ensure the most streamlined document experience possible. ConformX supports first mortgage, second mortgage and home equity loans – as well as the industry’s growing consumer lending needs."
In late 2015, Quicken Loans introduced Rocket Mortgage, the first fully digital mortgage experience. Now, 98% of all home loans originated by Quicken Loans utilize some aspect of Rocket Mortgage technology. The integration with ConformX will allow Quicken Loans to more simply generate mortgage documents, helping enhance the lending process.
“As a company driven by providing the best, most client-centric solutions, we are excited to be working with Docutech to implement ConformX,” said Tim Birkmeier, Chief Revenue Officer for Quicken Loans. “Their product allows us to automatically generate documents, eliminating any potential for human error, which helps our clients get to the closing table faster.”
“Docutech’s ConformX engine is the industry’s leading solution for creating document packages and now supports more than 30% of the nation’s total mortgage volume representing over $500B in loan value as measured by the 2019 HMDA report reflecting 2018 volumes,” said Amy Brandt, president and CEO of Docutech. “We are thrilled to support Quicken Loans in providing smart, compliant, and streamlined mortgage origination documents to enable borrowers to benefit from a more efficient and straightforward mortgage experience.”