Welcome!

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 www.capsilon.com.

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
While presenting own advanced Robo-Advisory Platform, Michał Różański, Managing Partner at EARP and CEO at Empirica, will illustrate the most important issues of building tailored FinTech software in his session at 20th Cloud Expo. He will share experiences we have gained for over 6 years of developing solutions for financial institutions and FinTech companies, including robo-advisors. We welcome all FinTech innovators interested in how properly implemented technology can move their businesses f...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and valu...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Tintri, Inc, a leading provider of enterprise cloud infrastructure, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Tintri offers an enterprise cloud platform built with public cloud-like web services and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds – to build agile development environments...
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
SYS-CON Events announced today that Carbonite will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Carbonite protects your entire IT footprint with the right level of protection for each workload, ensuring lower costs and dependable solutions with DoubleTake and Evault.