Content area
Full Text
Flagstar Bancorp, Inc. is to sell the assets and operations of DocVelocity, its document imaging business for mortgage lenders, to Capsilon, a provider of cloud-based document sharing, imaging and collaboration solutions for mortgage lenders.
Capsilon developed much of the technology that DocVelocity has marketed and sold since 2007, and which Flagstar has used to provide paperless mortgage processing to its wholesale customers. Following the transaction, Flagstar will continue to use the DocVelocity service.
"DocVelocity has played an important part...