Parkside Capitalizes with DocuTecha[euro][TM]s Assistance.(Special Report)(Parkside Lending )

Byline: James Comtois

New York-After being a DocuTech customer for about a year, a San Francisco-based lender has seen substantial results in creating a more compliant and paperless lending environment at a time when the industry is facing turmoil.

Last year, Parkside Lending implemented DocuTech's ConformX compliant document system to save document costs and reduce the time spent on each loan file. Parkside Lending is a wholesale mortgage bank primarily doing business in Northern California. The company, which focuses on "A" paper conforming and nonconforming products, has been in business for five years.

Parkside chose DocuTech's ConformX, because the company offered compliant documents that required less labor than competitors. DocuTech customized ConformX to enable Parkside to import data directly from their in-house loan origination system into automated loan documents and disclosures. Additionally, Parkside needed DocuTech to customize ConformX to integrate into its in-house LOS. The lender had developed its own system and DocuTech was able to write an integration that allows his staff to access the documents from within the custom LOS. Parkside also cited the guaranteed compliance of the documents as a key factor in selecting DocuTech.

"Our day-to-day integration allows Parkside with a customized fit," said Kirt Marlow, director of marketing for DocuTech. "A mistake lots of companies make is that they think, 'this company charges X, this company charges Y' and there's so much more value ...