Desert Document Services Promotes SMART Doc Compliance.

When lenders start putting together their budgets for next year, a

question on many minds will be how much money, if any, to invest in becoming SMART-Doc compliant. DesertDocs has some good news about that.

Desert Document Services is marketing SMART Pak Software, which brings MISMO-compliant electronic forms, data, and rules into a single complete package that transmits all elements together in an XML document, along with supporting tools. The newest version ties together origination, post-close and secondary systems and enables integrated HUD 1 data to be exchanged with escrow and closing software.

Electronically exportable data allows rules-based auditing, so loan transactions can be validated for accuracy and completeness plus regulatory and lender-specific compliance.

Because the SMART Pak produces document packages on enterprise-grade Web servers, the system can generate thousands of SMART Doc packages per day without waiting or downtime, said DesertDocs chief technology officer Tim Underwood. Forms can be produced in a MISMO-compliant SMART Doc, XHTML or PDF format, and comply with ESIGN and UETA provisions for electronic and paper-out processing.

"There is no retooling necessary to get the SMART Pak benefit," Mr. Underwood told Mortgage Servicing News. He said the system also takes into account imaging costs and helps lenders deal with vaulting issues. "Our system is the most inclusive," he said. "We look at electronic docs from a whole-loan perspective. That's what makes it easier to use."

Mr. Underwood said DesertDocs has been developing this technology for over three years. A result of that three-year initiative is that DesertDocs can now boast having converted over 35,000 forms to the XHTML format that enables sending data and formatted documents electronically. Documents prepared through the BrokerDocs and DesertDocs Web applications may be viewed, printed and delivered anywhere, anytime. "We have ...