CARSON, CA. SEPTEMBER 3, 2009. Document Systems, Inc. (DSI), developer of DocMagic, the industry's leading technology for compliant mortgage loan document preparation, released the comments in response to Ellie Mae's statement:
"We are disappointed, but not surprised, that Ellie Mae chooses to address what is a very serious matter by disseminating misinformation and mistruths in an attempt to confuse the issues and take the spotlight off of the unfair business practices and anti-competitive behavior that appears to be a historical and ongoing pattern of conduct by Ellie Mae," Said Dominic Iannitti, CEO of DocMagic, Inc. "The reality is simply this: Ellie Mae's actions do not match their rhetoric. Rather than attempting to accommodate customer choice, Ellie Mae has thwarted customers in their efforts to do business with DocMagic by informing customers that they are in breach of their Ellie Mae user agreements by attempting to do business with DocMagic, by telling customers that they would be billed exorbitant fees for doing business with DocMagic versus Ellie Mae Docs, by shutting down key utilities used by customers to connect with DocMagic, and on and on. We have heard repeatedly from our mutual customers that they have grown dissatisfied with these and other heavy-handed actions by Ellie Mae. The truth will come out in the court proceedings, and we are looking forward to presenting the evidence necessary to prove all our claims related to Ellie Mae's disappointing conduct."