If technology vendors are going to be successful, they have to expand their footprint. For example, Capsilon has added Cenlar FSB, Deutsche Bank and PennyMac to its Capsilon DocVelocity Network Delivery solution, which enables lenders to securely deliver fully compliant loan packages to leading financial institutions and government-sponsored enterprises (GSEs) according to their prescribed formats and protocols.
With the addition of these three institutions, Capsilon DocVelocity users can now deliver a single loan, or group of loan packages in a batch delivery, to ten flagship institutions. The additon of Cenlar FSB, the nation’s leading loan servicing provider, represents the first full-service loan servicer in the Capsilon Network. Supported major investor institutions now include Chase, Citibank, Deutsche Bank, Flagstar Bank, PennyMac and Wells Fargo. The supported government institutions include Fannie Mae, Freddie Mac and the Federal Housing Authority. With a single click, loans are sent directly to these institutions according to their specific formats and protocols, ensuring accurate, on-time delivery of loan packages.
Capsilon DocVelocity ensures accurate delivery through a number of quality control features that provide enhanced selection, mapping, translation and tracking of mortgage documents. DocVelocity automatically selects the correct documents, names them and places them in the stacking order required by the recipient institution. This reduces compliance risk and eliminates up to 90 percent of labor costs associated with the complicated task of selecting, naming and sorting the correct documents needed to assemble a loan package for delivery.
“The Capsilon DocVelocity Network Delivery capability is used by some of the largest mortgage lenders in the country, and the expansion of the Network stems from the requests of these large lenders,” said Sanjeev Malaney, chief execultive officer at Capsilon. “Lenders doing business with Cenlar FSB, Deutsche Bank and PennyMac are now able to use the Capsilon DocVelocity Network Delivery capability to securely expedite the delivery of high quality loan packages that meet all formatting and transmission requirements of these leading institutions.”
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.