Click here to close now.


News Feed Item

Merrimack Mortgage Company Inc. Chooses Capsilon DocVelocity for Paperless Mortgage Operations

Capsilon Corporation, a provider of comprehensive cloud-based document management solutions for mortgage lenders and investors, today announced that Merrimack Mortgage, a leader in residential mortgage lending throughout the northeastern United States, has selected the Capsilon DocVelocity mortgage document imaging and collaboration platform to transform their mortgage operations into a paperless environment.

Late last year, Merrimack Mortgage set an objective to eliminate all manual processes and move their mortgage operations to paperless. The company needed a technology that would give them the ability to automatically capture, name and index images of loan documents, allowing Merrimack to work with electronic loan files rather than printing entire loan files, which is both time-consuming and costly. The company formed a committee comprised of representatives from Origination, Operations, Underwriting and Compliance to begin a rigorous assessment of possible solutions. After evaluating solutions from a short-list of four different vendors, DocVelocity was the clear choice.

“Unlike the other solutions we looked at, only DocVelocity could be configured to work the way we do, so we didn’t have to make major changes to our workflow,” said Camille Madden, senior vice president of operations at Merrimack Mortgage Company. “With DocVelocity’s Automated Document Recognition capabilities, we can automatically capture, name, and index loan documents in a fraction of the time it used to take us, so we’ve increased our efficiency and productivity to a level we didn’t think was possible.”

The DocVelocity user interface was also deemed superior to any others the Merrimack team evaluated. Ms. Madden continued, “With DocVelocity, we are able to intake loan documents a variety of ways: via fax, email, FTP, browser upload, or even print streams using the installed DocVelocity print driver. Only DocVelocity offers this level of flexbility that makes it even easier to do business with Merrimack, and increases the satisfaction of our customers.”

“Merrimack Mortgage’s 30 years of successful operations is a testament to the discipline and focus they apply to their business,” said Sanjeev Malaney, CEO of Capsilon Corporation. “The fact that they’ve chosen DocVelocity to move to a paperless operation for increased productivity and cost savings demonstrates that DocVelocity is meeting the needs of the most rigorous and innovative lenders who are looking for technology to increase productivity, reduce costs and achieve compliance.”

About Capsilon Corporation

Capsilon Corporation provides comprehensive cloud-based document management solutions that enable mortgage lenders and investors to increase productivity and lower costs, while ensuring compliance. The company’s flagship product, DocVelocity®, is an imaging solution that provides document capture, collaboration, delivery and retention, eliminating the inefficiencies inherent in paper-based processes. Capsilon serves many of the mortgage industry’s most innovative lenders, including two of the 10 largest residential mortgage lenders in the United States. For more information, visit

About Merrimack Mortgage Company

Founded in 1983, Merrimack Mortgage Company (MMC) is a leader in residential mortgage lending throughout the Northeast, with over 30 branch offices and licensed in 10 states. As one of the region’s largest independent mortgage bankers, Merrimack Mortgage’s reputation as a premier service provider has been the key to its success. For more than 30 years Merrimack Mortgage has been focused on offering its clients competitive products at competitive prices, and its core strategy of providing an exceptional customer experience.

DocVelocity® is a registered trademark of Capsilon Corporation. All other marks are the property of their respective owners.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Achim Weiss is Chief Executive Officer and co-founder of ProfitBricks. In 1995, he broke off his studies to co-found the web hosting company "Schlund+Partner." The company "Schlund+Partner" later became the 1&1 web hosting product line. From 1995 to 2008, he was the technical director for several important projects: the largest web hosting platform in the world, the second largest DSL platform, a video on-demand delivery network, the largest eMail backend in Europe, and a universal billing syste...
Electric power utilities face relentless pressure on their financial performance, and reducing distribution grid losses is one of the last untapped opportunities to meet their business goals. Combining IoT-enabled sensors and cloud-based data analytics, utilities now are able to find, quantify and reduce losses faster – and with a smaller IT footprint. Solutions exist using Internet-enabled sensors deployed temporarily at strategic locations within the distribution grid to measure actual line lo...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, will explore the current state of IoT connectivity and review key trends an...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. Migration to cloud shifts computing resources from your data center, which can yield significant advantages provided that the cloud vendor an offer enterprise-grade quality for your application.
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driv...
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
You have your devices and your data, but what about the rest of your Internet of Things story? Two popular classes of technologies that nicely handle the Big Data analytics for Internet of Things are Apache Hadoop and NoSQL. Hadoop is designed for parallelizing analytical work across many servers and is ideal for the massive data volumes you create with IoT devices. NoSQL databases such as Apache HBase are ideal for storing and retrieving IoT data as “time series data.”
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ability. Many are unable to effectively engage and inspire, creating forward momentum in the direction of desired change. Renowned for its approach to leadership and emphasis on their people, organizations increasingly look to our military for insight into these challenges.
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.