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DocuTech Meets Growing Needs of Hispanic Homebuyers with Introduction of Spanish-Language Compliant Mortgage Loan Documents
ORLANDO, Fla. --(Business Wire)-- March 28, 2005 -- Idaho Falls, Idaho-based DocuTech Corp. (DocuTech), a leading provider of compliance services and documentation technology for the mortgage industry, launched, from MBA's National Technology in Mortgage Banking Conference & Expo, an initiative to satisfy the growing needs of the Hispanic mortgage market by providing its customers with compliant mortgage documents in Spanish.
According to the National Association of Hispanic Real Estate Professionals (NAHREP), a trade organization for Hispanics in the real estate industry, over the next ten years, 40 percent of all new homebuyers in the United States will be members of minority and immigrant groups, with half as native Spanish speakers. Hispanics are becoming the largest minority group in the United States, and the NAHREP predicts that by 2050, Hispanics will comprise 25 percent of the total U.S. population. In turn, mortgage professionals need to be prepared to support the needs of the emerging Hispanic market.
"DocuTech is able to adapt to the changing market in more ways than one," said Ty Jenkins, president and founder of DocuTech. "One of these adaptations is in successfully meeting the needs of emerging sectors, like the Hispanic community, by providing the necessary documents and services in Spanish, which better enables brokers and lenders to communicate with their customers."
"The growth of the Hispanic mortgage market is substantial, and it will only continue to grow exponentially," said John Alexander, DocuTech's executive vice president of Sales & Marketing. "We recognize this growth and the impact it is having on our industry and have dedicated resources to effectively alleviate some of the barriers that currently exist in serving the Hispanic market through our new Latino Initiative. DocuTech is committed to supporting and working with other organizations, which are interested in promoting and assisting the Hispanic community."
About DocuTech
Since 1991, DocuTech Corp. (DocuTech) has provided industry-leading compliance services and documentation technology for the mortgage industry. To date, DocuTech has the largest, most complete document library in the industry with thousands of customized investor documents, which are federally and state compliant in all 50 of the United States.
DocuTech's software interfaces with leading loan origination systems (LOS) and enables mortgage professionals to generate documents locally, which increases efficiency, reduces time, eliminates errors and omissions and provides added convenience to homebuyers. DocuTech manages and secures all information needed for a loan, guaranteeing accuracy, security and compliance.
Recognized as a Top 100 Vendor for the past three years by Mortgage Technology Magazine, DocuTech offers innovative technology solutions paired with the highest standards in customer service. For more information, call 800-497-3584 or visit the company's Web site at www.docutechcorp.com.
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