""DocuTech Corp."":http://www.docutechcorp.com/, a compliance and documentation technology company headquartered in Idaho, has partnered with ""Veri-Tax"":http://www.veri-tax.com/ to automate the 4506-T IRS verification process in ConformX, DocuTech's flagship software.[IMAGE]
""Compliance burdens in the industry place a great emphasis on a lender's need for seamless partner integrations that can satisfy all requirements of the disclosure process,"" said Scott Stucky, COO of DocuTech. ""DocuTech's partnership with Veri-Tax will automatically [COLUMN_BREAK]
deliver tax transcripts to the customer in a designated secure folder, simplifying the disclosure process and guaranteeing compliance.""
The integrated service allows shared customers to satisfy IRS requirements by automating the verification process and allowing lenders to place and retrieve tax transcript orders within ConformX--where borrower information is already stored. DocuTech also says the integration will ease compliance efforts regarding the Consumer Financial Protection Bureau's (CFPB) Ability-to-Repay regulation.
""New compliance rules involving the IRS and CFPB present a significant challenge to lenders, which is why this integration with DocuTech makes so much sense,"" said Maria Kirgan, Veri-Tax's senior director of product management. ""The combination of automated verifications and electronic documentation will greatly streamline the compliance process while improving loan quality and saving time for everyone--especially the consumer.""
DocuTech announced the company expects to integrate additional Veri-Tax verification services in the future, including form SSA-89 processing and verifications of employment and accounts.