DocVelocity Upgrades Document Recognition Platform

TROY -- DocVelocity, a Web-based paperless processing system for mortgage originators, has announced a new Auto Document Recognition platform that brings multiple benefits to customers.

The new platform supports color images, keeps documents in stacking order, and recognizes documents at a more granular level. Automated document recognition empowers DocVelocity customers to spend more time underwriting loans and less time manually indexing and organizing loan files. The end result is they can use their employees' skills more effectively.

"We are excited to provide more tools to reduce our customers' need to manually index documents and to improve their experience with DocVelocity," said Jason Dufner, director, Product Development, at DocVelocity. "This upgrade also reflects our continuing commitment to invest in and add value to DocVelocity."

DocVelocity is a Web-based paperless processing system for mortgage bankers and brokers developed by Paperless Office Solutions Inc., a wholly owned subsidiary of Flagstar Bancorp, Inc. (NYSE: FBC). For more information, please call (877) 362-8356 or visit docvelocity.com.