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
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
Today traditional IT approaches leverage well-architected compute/networking domains to control what applications can access what data, and how. DevOps includes rapid application development/deployment leveraging concepts like containerization, third-party sourced applications and databases. Such applications need access to production data for its test and iteration cycles. Data Security? That sounds like a roadblock to DevOps vs. protecting the crown jewels to those in IT.
SYS-CON Events announced today that Interface Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Interface Corporation is a company developing, manufacturing and marketing high quality and wide variety of industrial computers and interface modules such as PCIs and PCI express. For more information, visit http://www.i...
SYS-CON Events announced today that mruby Forum will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. mruby is the lightweight implementation of the Ruby language. We introduce mruby and the mruby IoT framework that enhances development productivity. For more information, visit http://forum.mruby.org/.
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
In his session at @ThingsExpo, Greg Gorman is the Director, IoT Developer Ecosystem, Watson IoT, will provide a short tutorial on Node-RED, a Node.js-based programming tool for wiring together hardware devices, APIs and online services in new and interesting ways. It provides a browser-based editor that makes it easy to wire together flows using a wide range of nodes in the palette that can be deployed to its runtime in a single-click. There is a large library of contributed nodes that help so...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 21st Cloud Expo, Lennart Frantzell, a Developer Advocate with IBM, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing devel...
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness.
SYS-CON Events announced today that Mobile Create USA will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Mobile Create USA Inc. is an MVNO-based business model that uses portable communication devices and cellular-based infrastructure in the development, sales, operation and mobile communications systems incorporating GPS capabi...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, will discuss how data centers of the future will be managed, how th...