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Wed, 02/28/2007

Free OpenPCL Viewer will change the way lenders deal with their documents.

  • First ever free PCL viewer for the mortgage industry.
  • Open-Source means it can be used by anyone for free.

CARSON, CALIF., March 26, 2007 - Document Systems, Inc. (DSI), a leading developer of mortgage technology for compliant loan document preparation and customer contact management, including DocMagic and LoanMagic, has released OpenPCL Viewer, the industry's first free electronic document viewer capable of representing documents saved in Printer Control Language (PCL). PCL is widely used in the industry as it is the native language used to communicate with computer printers, which makes it the most accurate representation of what the final document will look like on the printed page.

Almost all of the documents mortgage lenders use today are printed on paper at some point during the process. More than 90% of the documents are eventually translated by software into the PCL format. That makes PCL the most common document format used in any printable process. Unfortunately, lenders have been unable to view the PCL file without investing in expensive PCL viewer software.

“PCL viewers have been expensive in the past, but lenders need them in order to inspect documents prior to closing,” said Don Iannitti, founder and CEO of Document Systems, Inc. “The industry needs a cost-effective way to view these documents because it's impossible to make changes to a document you cannot see. We had already developed the software for our own use and decided to make it available to everyone. You can't get more cost-effective than free.”

DSI developed the software and posted the project to SourceForge.net, the world's largest Open Source software development website, hosting more than 100,000 projects and over 1,000,000 registered users.

Iannitti says the PCL viewing capability will be a must-have technology for most lenders as more of the industry moves toward paperless lending. He expects to see many of the industry’s leading technology firms integrate the OpenPCL Viewer source code into their products to give lenders the ability to both view and modify documents in PCL.

“For too long the industry has been forced to pay high fees to view these important documents. That's no longer the case,” Iannitti said. “Now, anyone in the industry, whether they are a DocMagic customer or not, can see these files, exactly as they will print, for free.”

OpenPCL Viewer is written in Java and provides cross-platform functionality. To obtain OpenPCL Viewer and/or the source code, visit www.openpcl.com or www.docmagic.com.

About Open Source software
The Open Source software movement is intended to give programmers the opportunity to read, redistribute, and modify the source code for a piece of software in the hopes that a better product will result. Open Source software is gaining increased momentum in the business world as firms learn to leverage the power of the international programming community. Commonly cited reasons for the growing interest, acceptance, and even preference for Open Source products include low cost, high value, quality and reliability, security, increased freedom and flexibility (both hardware and software,) and adherence to open standards.

About Document Systems, Inc.
Founded in 1988 and headquartered in Carson, Calif., Document Systems, Inc., is a mortgage technology company that develops software, processes and Web-based systems for the production of compliant loan document packages. Along with it’s loan document production system, DocMagic®, DSI provides compliance expertise regarding the completion of all applicable forms, and both guarantees and warrants that all agency forms are up-to-date and in compliance with GSE requirements. DSI’s staff includes a team of compliance experts that constantly monitor legal and regulatory changes at federal and state levels to ensure accuracy. DSI is the first company in the mortgage industry to develop a fully integrated mortgage customer contact management system, LoanMagicä, that is specifically designed to help loan officers streamline the tasks involved with acquiring leads, managing contacts and gathering all personal and credit information necessary to secure a loan. For more information on DSI, visit the company’s Web site at www.docmagic.com.