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2023
Dominic Iannitti, President and CEO of DocMagic, answers questions about eNote adoption — as well as how far the industry, DocMagic and its clients have come using the DocMagic platform. This Q&A was originally featured in HousingWire.
Where does the industry stand in terms of digital adoption, and more specifically the adoption of eNotes?
Many lenders were considering, or at least researching, digital implementations when the pandemic hit, putting industry adoption on the fast track.
These days lenders are seeking to leverage mortgage technology to streamline the loan process. Many have digital capabilities in place already and with so many warehouse lenders ready to fund eNotes and servicers ready to support them, along with increased expansion in the investor space, the popularity of eNotes is growing.
Talk to us about DocMagic’s setup process for lenders to get started with Total eClose, eNotes and a secure eVault.
We’ve partnered with many lenders who started with a hybrid model and then made the transition to utilize eNotes and, in many cases to completely paperless closings.
eNotes are a game-changer for risk reduction, processing speed and overall efficiency. By leveraging both eNotes and DocMagic’s award-winning eVault technology, lenders can quickly begin to experience an array of eClosing benefits. Our eVault technology has been the industry leader for many years, giving us the expertise to implement and support the critical aspects of eNotes.
DocMagic’s eClosing Team has personally supervised thousands of eClosings. Whether it’s getting set up with MERS®, implementing an eVault to securely store notes, partnering with eNote-ready investors and e-warehouse lenders or servicing eNotes, we wrote the playbook on how to make it happen for lenders and their supply chain partners.
What are some of the efficiencies of eNotes, and how will lenders that implement eNotes now benefit compared to those that wait?
The expediency of eNotes carries through the entire process, from originator, to warehouse, investor, custodian, and servicer in a matter of seconds. Your workforce is more productive, moving loans forward through the pipeline at the speed of a click.
Errors in quality are costly, but especially in this environment. Having everything signed electronically and dated correctly is critical. The eNote can be registered immediately with MERS®, allowing loans to be delivered within minutes of closing — that’s real efficiency.
Organizations that implement eNote technology will gain a competitive advantage over those that wait. The efficiencies, benefits and ROI of eNotes are not a nice to have, but a must. This is positively where the industry is heading.
What should lenders be looking for in a long-term eClosing vendor/partner?
Lenders should start by choosing a vendor with the experience of thousands of successful eClosing transactions. An inexperienced vendor may not have all of the necessary components in place to do business with other providers in the space.
Lenders should also select a vendor offering all hybrid and fully end-to-end paperless eClosings. The best option is a one-stop shop that provides every element of an eClosing. Why go to one vendor for document generation and another for eNotes?
Finally, look for a vendor that can scale to your future growth. DocMagic offers a fully cloud-based service layer and flexible technology designed with capabilities adaptable to every conceivable eClosing option.
2022
DocMagic, Inc., the premier provider of compliant loan document generation, automated regulatory compliance and comprehensive eMortgage services, announced that it attained MISMO’s eClosing System and remote online notarization (RON) certifications for its Total eClose™ solution.
Both certifications are part of MISMO’s eMortgage Technology Certification Program created to support, advance and increase the mortgage industry’s adoption of digital solutions and is specifically designed to facilitate and encourage eClosing transactions. Moreover, the RON certification confirms that the provider’s platform, procedures, and policies comply with MISMO standards and the eClosing certification confirms that the platform meets MISMO-specific requirements.
MISMO standards are widely accepted and used throughout the real estate finance industry, and most major institutions, including government agencies and GSEs, which are utilizing MISMO standards to exchange data with business partners. In addition, agencies like the CFPB have made it clear that their examination and data exchange tools will rely on and conform to the MISMO standard.
DocMagic became Certified MISMO Compliant for eClosing in February of this year and is the only document generation provider with the eClosing certification. In 2021, DocMagic’s proprietary RON capability was offered to its existing client base. The company’s Certified RON solution seamlessly integrates with the company’s industry-leading Total eClose platform, enabling lenders and their borrowers to realize a fully digital closing experience.
“We are pleased to have received these important certifications, which establish standards that improve lenders’ ability to evaluate eClosing technology providers,” stated Dominic Iannitti, president and CEO of DocMagic. “DocMagic has consistently championed the utilization of eClosing and RON technology in an effort to move the industry forward. These certifications help facilitate the adoption process and we fully embrace them.”
DocMagic’s Total eClose platform is a single-source solution that contains all components needed to execute fully paperless eClosings. The award-winning innovation was the first of its kind to be introduced to the mortgage industry in 2014 and since that time has gained widespread market adoption.
The premier provider of loan document generation, compliance support and comprehensive eMortgage services, announced an integration with Empower, Black Knight’s loan origination system (LOS), to help automate the DocMagic document generation process for lenders and provide access to additional DocMagic services.
Lenders now have access directly from Empower to DocMagic’s intelligent document generation solution, supporting compliance, data integrity and trackability. DocMagic’s data-driven technology leverages its sophisticated audit engine for automated data validation testing and regulatory compliance audits to analyze relevant compliance rules, regulations and applicable laws, assisting lenders with compliance on pertinent loan documents throughout the lending process.
“We are pleased to integrate with Black Knight to facilitate digital document generation and compliance support for the mortgage industry’s leading lenders,” stated Dominic Iannitti, president and CEO of DocMagic. “Black Knight has done an outstanding job aligning with key market providers to support their customer base, significantly growing its LOS business. We’re excited that this integration for document generation will also pave the way to provide lenders with the benefits of additional DocMagic solutions.”
Black Knight’s end-to-end, feature rich LOS platform supports a growing digital lending ecosystem designed to support business expansion. The cloud-based system offers advanced capabilities that automate the lending process from start to finish. Empower is configured to support a lender-specific workflow and operates in tandem with DocMagic’s automated and continuous compliance checks on relevant documents at key points throughout the process.
“Empower’s strategic integration with DocMagic offers tremendous benefits to Empower users by providing innovative, lights-out integration to support best-in-class document generation, while preserving the integrity of the data and tracking it throughout the loan process,” said Rich Gagliano, president, Black Knight Origination Technologies. “Together, Black Knight and DocMagic can help lenders support their compliance efforts and provide borrowers with a more satisfying loan experience.”
Kansas City-based Nutter Home Loans, the first mutual Black Knight and DocMagic client to go-live with the Empower integration to DocMagic, is experiencing positive results. The national lender was founded in 1951 and originates Conventional, FHA, VA, Jumbo, and USDA loans.
“Nutter is committed to making the lending process as easy as possible for our customers,” stated Tera Guy, EVP of operations at Nutter Home Loans. “DocMagic’s integration with Black Knight delivers multiple efficiencies for our borrowers and our support staff. Like Nutter, the team at DocMagic places paramount emphasis on delivering service excellence, and in part, this is one of the primary reasons we engaged with them. We look forward to continued optimization of our service through future capability expansions.”
DocMagic announced the integration of multiple digital lending solutions with Take Three Technologies’ (“Take3”) cloud-based and seamless loan origination system (LOS), LoanMAPS™. The new integration empowers clients by eliminating the need for an initial disclosure desk and closing department reducing full-time employee volumes and slashing clients’ costs to produce loans. LoanMAPS users will generate compliant loan documents that are e-enabled for eSignature and eClosing capabilities. The combined solutions enhance the initial disclosure process, streamline closings, and provide users with an efficient and simplified mortgage process.
“The integration that we developed with Take3’s LoanMAPS LOS is seamless, giving users the ability to harness several of our solutions to optimize the borrower experience, reduce lender costs and ensure compliance,” stated Steve Ribultan, director of business development at DocMagic.
LoanMAPS, a cloud-based LOS, runs off a standard internet browser accessible from the user’s desktop, laptop computer, or mobile device. Automating the entire lending process for mortgage bankers, LoanMAPS applies AI and sophisticated business logic to implement newfound efficiencies across the system from production through post-closing. Additionally, unlike most commercially available LOSs, LoanMAPS also includes a robust CRM, POS, and Report Generator, which eliminates the need to add third-party applications, dramatically lowering the cost to originate loans while maximizing productivity. Take3 encourages clients to take their Cost to Produce Challenge and see how much they can save with LoanMAPS.
“A team of mortgage lenders developed LoanMAPS after decades of experience working with other solutions. We realized the value that having one technology provides in terms of one database and one training system,” stated Anita Padilla, CEO of Take 3 Technologies. “LoanMAPS was built by mortgage bankers, for mortgage bankers.”
Padilla continued: “From its conception, LoanMAPS was developed with the objective to give lenders the flexibility to grow their volume while saving time and money, alleviating compliance and underwriting guideline concerns, and slashing the total cost to manufacture loans. Working with a proven industry leader like DocMagic enables us to optimize the overall value that LoanMAPS offers.”
DocMagic’s Audit Engine fully automates data and document validation at all phases of the lending process to ensure accuracy and compliance. Continuous automated compliance checks validate that the documents are always generated in compliance with federal, state and investor rules and regulations. The integration with LoanMAPS also ensures that TRID rules are adhered to at all times, eliminating costly errors.
“The interface between DocMagic and LoanMAPS has been hugely beneficial in streamlining our entire initial document disclosure process and ensuring compliance,” said Gail Maes, Vice President of Operations at Megastar Financial. “The ease of use it gives our customers helps elevate the borrower experience and complements the intuitive functionality that LoanMAPS gives our back-office staff.”
Take 3 Technologies is also integrating DocMagic’s Total eClose™ platform with LoanMAPS. Total eClose automates the entire eClosing process via a single-source solution that guides users through an efficient eClosing experience, allowing them to securely eSign and eNotarize a loan from anywhere via a simple internet browser. The addition of Total eClose to LoanMAPS saves borrowers significant amounts of time at the closing table and helps lenders enhance the borrower experience.
2021
DocMagic announced the rollout of eDecision™, a solution that significantly expands the level of analysis applied to e-eligibility determination for eClosings. The result is a clear-cut, highly accurate decision that tells users exactly how far they can take a digital closing based on the unique attributes of the loan transaction—all the way down to county-level eRecording acceptance.
eDecision is powered by DocMagic’s sophisticated audit engine, which begins the decisioning process as soon as the first set of disclosures are generated and continuing with e-eligibility checks throughout the entire loan process. The solution accesses and compiles first-party data, leveraging an immense amount of information to improve the digital closing process.
“Our goal in developing eDecision was straightforward: to help clients execute flawless eClosings and bring a new level of automation to the overall process by providing lenders with an immediate determination of how “e” they can be,” stated Dominic Iannitti, president and CEO of DocMagic. “Simply put, eDecision equates to eSuccess for all parties involved in the closing process.”
The eDecision solution does not force users to leave DocMagic’s platform and visit another website, use a third-party application, or access an ancillary database. Everything eDecision offers is available within DocMagic’s core process and is provided as an integral component of the eClosing workflow, ensuring a seamless and efficient eClosing process each and every time.
eDecision’s core capabilities:
- eClosing selection – eDecision automatically determines how “e” lenders can be with DocMagic’s Total eClose solution, which offers four distinct types of compliant eClosings. From the moment the first document package is generated, the highest level of hybrid available or a fully-paperless eClosing is instantly identified.
- eNote certification – eDecision automatically confirms whether a lender is certified to originate eNotes, is registered with MERS, and has completed their MERS end-to-end testing.
- eRecording readiness – eDecision automatically validates whether the local recording jurisdiction is able to accept an electronically executed security instrument.
- Knowledge-based authentication (KBA) – eDecision automatically confirms whether KBA is required in the closing state where it occurs.
- eNotary acceptance – eDecision automatically identifies which type of notarization is accepted within the jurisdiction: remote online notarization (RON), in-person electronic notarization (IPEN), or traditional in-person notarization.
- Investor acceptance – eDecision will also soon provide a determination whether an investor will purchase an electronically closed loan, saving time for secondary marketing departments.
All analysis and results from eDecision are incorporated into DocMagic’s Loan Detail Report (LDR), which is automatically included with all document requests and is accepted by most investors as proof of regulatory compliance.
Iannitti concluded: “We strive to eliminate manual processes and improve the overall user experience. We don’t want our clients having to go elsewhere to research or rely on disparate third-party systems for what we believe should be fully-integrated analysis. eDecision gives lenders, settlement providers and notaries a completely integrated digital closing determination process — and the confidence they need to offer eClosings on a widespread scale.
DocMagic has launched eSign 3.0, an upgrade to our eSignature platform, with new features designed to help lenders easily facilitate remote online notarization (RON) eClosings.
One of the new features is a secure eClose portal that enables notary and settlement service providers to access and update closing document packages. When the notary or closing agent adds documents, our AutoPrep tool automatically applies the essential e-tag information for electronic execution, eliminating the labor intensive and error-prone process of manually preparing documents.
In addition to new RON and eClosing capabilities, eSign 3.0 dramatically improves signer functionality. With a growing percentage of borrowers using their mobile devices to participate in the mortgage process, eSign 3.0 offers a much more intuitive mobile experience for borrowers.
“We developed eSign 3.0 by making the borrower experience our primary focus,” said Dominic Iannitti, president and CEO of DocMagic. “The workflow takes both the user’s physical and emotional experiences into account. We paid close attention to the way users physically handle their phones as well as their emotional responses to technology. The result is a far more satisfying borrower experience.”
Additional eSign 3.0 upgrades include built-in knowledge-based authentication (KBA) and identity validation; a redesigned workflow to give borrowers additional time to read and review documents in a single, centralized view; an accelerated signing phase where intuitive tools track progress at every stage; and full oversight until all documents are executed. The platform’s integrated progress-tracking tools can be used on a computer or mobile device to keep borrowers aware of their progress every step of the way.
“It all starts with a robust API,” Iannitti said. “eSign 3.0 is powered by a comprehensive suite of web services designed specifically for seamless integrations. The end result is that eSign 3.0 makes borrowers feel more connected and informed, so they’re confident about working with their lender and walk away having enjoyed a more positive and memorable engagement.”
eSign 3.0 leverages DocMagic’s suite of eMortgage solutions, including its end-to-end Total eClose™ platform, dynamic document and MISMO Category 1 SMART Doc® eNote generation, automatic eNote registration with MERS®, and secure storage within its certified eVault.
SimpleNexus is integrating DocMagic’s eVault and eNote technologies with its Nexus Closing eMortgage solution, a move that will allow the company — which offers a homeownership platform that connects loan officers, borrowers, real estate agents and settlement agents — to generate eNotes, deliver them to a secure eVault, and register the eNotes with the MERS eRegistry.
“A fully digital closing, complete with eNote and eVault, is the last hurdle lenders must clear before offering borrowers and investors the myriad benefits of an eMortgage. We’re pleased to now offer these capabilities via our integration with DocMagic,” said SimpleNexus Chief Product Officer Shane Westra. “In a market cluttered with half-baked solutions, we’ve made it our mission to assemble the most comprehensive and singularly exceptional homebuying experience in the business.”
Case Study: Why one lender skipped eSign hybrids and went straight to eNotes
In addition to DocMagic’s eVault technology, Nexus Closing comes with integrated remote online notarization (RON) and eSigning. It is certified to meet both Fannie Mae and Freddie Mac’s technical requirements for eClosing, eNote and eVault functionality and is compatible with their eNote delivery systems.
eNote registrations have grown dramatically over the past few years, rising from 17,000 in 2018 to more than 460,000 in 2020. eNotes are more secure and accurate than their paper counterparts and can be delivered instantaneously to the secondary market.
DocMagic’s certified eVault gives lenders the ability to access, manage and store eNotes and other electronic mortgage records on a short- or long-term basis. By offering proactive, real-time control of electronic loan files, eVault technology reduces cycle times and improves process efficiencies throughout the mortgage life cycle.
“To stay competitive in this market and future markets, lenders need to adopt eClosing solutions that allow them to generate, sign, store and deliver eNotes as part of a complete eMortgage transaction,” said Dominic Iannitti, DocMagic’s president and CEO. “We’re pleased to offer these capabilities to more lenders through our integration with SimpleNexus.”
Atlantic Bay Mortgage Group has processed more than 10,000 eClosings — including thousands of eNotes — with the help of DocMagic’s Total eClose solution.
A long-time DocMagic client, Atlantic Bay processed its first hybrid eClosing in 2018 and executed its first eNote in January 2020; by year’s end, the lender had registered more than 7,000 eNotes. As of May 2021, Atlantic Bay has surpassed 10,000 eClosings, representing more than 20% of all loans originated as paperless closings.
“More than anything, our success has been predicated on being early adopters of RON (remote online notarization) and eNotes, helping settlement agents become comfortable with DocMagic’s software, working closely with our warehouse lenders and investors to accept eNotes, and having a ‘just do it’ attitude toward eClosings with eNotes,” said Christina Brown, Atlantic Bay’s Chief Operations Officer. “All of the legwork that we performed before and in the early days of the pandemic helped us gain a lot of experience and we were able to execute thousands of eClosings. It’s now become a competitive advantage for us.”
This recent success makes Atlantic Bay a leader in the lending space.
“Atlantic Bay exemplifies an incredibly efficient lender that has made all the right moves to fully embrace digital lending and completely remove paper from the closing process with our Total eClose platform,” said Dominic Iannitti, DocMagic’s president and CEO. “When you put the necessary pillars in place like Atlantic Bay has, it paves the way to more scalable operations with paper-free eClosings at the heart of the workflow. … We’re excited to showcase them as a client that’s perfected the eClosing process.”
Total eClose allows lenders to implement every type of hybrid eClosing — including eNote and eNotarization options — as well as a 100% full eClosing. It offers an end-to-end paperless workflow that seamlessly connects every component of the closing process.
Brown said eNotes have been a boon for her company.
“From origination through closing, warehouse lending and onto secondary marketing, we’ve seen a tremendous upside to producing eNotes that has benefited us as a company, our staff and our customers,” she said.
Atlantic Bay has already been conducting eClosings with RON, but plans to increase its volume of RON closings. The lender reports that it has experienced increased accuracy; quicker turn times; strict compliance adherence; better secondary marketing sell-side efficiencies; more warehouse line liquidity; and a straightforward, speedy and pleasant closing experience for borrowers.
Donors at an upcoming Los Angeles-area blood drive will receive a pair of DocMagic’s signature pink bunny slippers.
The drive is being held by Golden Heart LA and Children’s Hospital Los Angeles (CHLA). Golden Heart LA is dedicated to helping children who suffer from life-threatening diseases, disabilities and illnesses. The nonprofit regularly works with CHLA and other organizations to hold blood drives throughout Southern California.
Every month CHLA patients require about 2,000 units of blood and blood components; CHLA collects blood from approximately 800 donors per month to meet this need. A single pint of blood can save up to two patients’ lives.
DocMagic supports several charitable events, particularly those that help children. The company’s bunny slippers are often donated to good causes to thank volunteers and participants. The slippers debuted at a mortgage technology convention in 2016 to celebrate the release of DocMagic’s Total eClose™ eClosing system. Hundreds of conference attendees wore the slippers, which symbolized comfort and borrowers’ newfound ability to close a mortgage loan electronically from the comfort of their homes.
DocMagic is teaming up with New Jersey-based Secure Insight to set up a training program on remote online notarization (RON) technology and processes. The move will establish a database of notaries who have been fully trained and certified on DocMagic’s industry-leading, 100% paperless Total eClose platform. The partnership combines DocMagic’s technology and Secure Insight’s unique database and individual training for notaries.
Amid rising demand for digital closings, lenders have a growing need to tap well-qualified eNotarization professionals who can ensure deals close smoothly and on time. This new certification program, which reaches the greatest number of notaries with a working knowledge of Total eClose, is poised to significantly move the adoption needle.
“Ultimately, this partnership creates a better RON process for lenders and borrowers alike, benefiting all users involved in the eClosing process,” says Dominic Iannitti, president and CEO of DocMagic. “Lenders are operating at maximum capacity right now with an influx of mortgage applications that they must ultimately close on as efficiently as possible amid heavy loan volume. Our new certification process will ensure lenders that RON eClosings will be handled quickly and efficiently by a ready supply of proficient eNotaries.”
Secure Insight’s extensive national notary database can now be easily accessed to find notaries who are qualified to complete seamless, compliant eClosings using RON technology.
“One of the primary challenges in facilitating RON transactions is that lenders are hesitant to entrust the closing process with a notary that may be ill-equipped to effectively perform an eClose transaction,” says Andrew Liput, CEO at Secure Insight. “Teaming with DocMagic allows us to identify properly licensed, experienced and trained professionals whom lenders will feel comfortable leveraging to perform the specialized functions surrounding these unique transactions.”
2020
DocMagic has integrated with VirPack to facilitate the seamless exchange of loan files and docs for compliant eSigning through DocMagic’s eSign platform.
Using VirPack’s API, electronically signed documents can automatically be accessed and retrieved from DocMagic’s eSign platform and delivered to the appropriate party, establishing a secure and seamless exchange of sensitive borrower information and documents. Customers will be alerted to all DocMagic eSign platform events via user notifications.
RON: The last mile in the eClosing marathon
The integration centralizes a paperless environment to maximize operational efficiency, eliminate errors, and reduce costs. Furthermore, the seamless connectivity speeds up funding and quickly delivers loan files to investors, GSEs, the FHA, servicers, QC firms, MI firms, and other relevant parties.
“This integration helps our mutual clients to efficiently automate document workflows and consolidate the retrieval and packaging of documents according to their specific preferences,” said Steve Ribultan, director of business development at DocMagic. “Ultimately, we’re bringing a greater level of organization and centralization to bundling executed documents for borrowers, lenders, and investors.”
VirPack simplifies virtual document management for the lending industry by providing user-centric solutions for loan file management, e-delivery, and file indexing with full text OCR to significantly increase productivity and modernize business operations.
“VirPack is pleased to strengthen our partnership with DocMagic,” said Wayland Pond, VirPack’s COO. “The integration results in more secure document exchange and alleviates manual processes by leveraging e-signature and e-closing technology. This partnership further underscores our commitment to modernizing mortgage lending workflows. Our technology focuses on improving operations by limiting manual intervention, reducing operational overhead and oversight, and increasing loan transparency.”
More than 40 people braved 100-degree weather to participate in a recent charity blood drive, receiving a pair of DocMagic’s distinctive novel bunny slippers in appreciation of their life-saving donations.
The event, which took place in Las Vegas on Aug. 22, was jointly held by Golden Heart LA, a nonprofit that helps children who suffer from life-threatening diseases or disabilities, and Ayden’s Army of Angels, a childhood cancer foundation. One pint of blood can save up to three lives.
The drive was held in honor of what would have been Ayden Brown’s sixth birthday. He was diagnosed at 13 months with Stage 4 Alveolar Rhabdomyosarcoma, a rare type of cancer that can occur at any age but mostly affects children.
DocMagic has a history of helping charitable causes, especially those involving children. Our longtime mascot, “Doc,” is a novel bunny that has become a recognizable part of our brand within the mortgage industry.
DocMagic is joining forces with Simplifile, a document collaboration and eRecording provider, to create new process efficiencies that will further digitaize the closing process.
The two companies’ technologies—which include DocMagic’s 100% paperless Total eClose™ platform and Simplifile’s eEligibility data for eNotarization acceptance—are combining to facilitate eClosing usage, instantly qualify eNotarizations by county, and automatically eRecord documents post-closing.
“This integration further streamlines the post-closing process by extending the eClosing process to include county recordings,” said Dominic Iannitti, DocMagic’s president and CEO. “Our partnership with Simplifile provides their vast network of more than 39,000 settlement agents with easy access to DocMagic’s Total eClose™ services.”
Using Simplifile, settlement agents can seamlessly connect to all of DocMagic’s eClose-enabled lenders in one place to exchange documents, data, and closing logistics.
Additionally, loan closings implemented through Total eClose™ can now be automatically routed to the agent for eClosing coordination, streamlining access to the Total eClose™ room. The digital lift continues beyond the closing table with integrated eRecording in participating counties. Those recorded documents and the title policy are then returned electronically, along with associated recording metadata, to the lender.
“Process consistency is key to driving eClosing adoption with lender closing teams and settlement agents, regardless of what percentage of loans qualify to be closed digitally or where individual loans fall on the digital spectrum,” said Paul Clifford, president of Simplifile. “The combination of DocMagic’s proven eClosing technology and Simplifile’s settlement agent network creates a powerful foundation that enables lenders to scale their digital mortgage efforts as jurisdictional, and investor requirements allow and capture every drop of efficiency and cost-savings possible.”
Simplifile is a part of ICE Mortgage Services, which applies technology and high-capacity infrastructure to make the mortgage process electronic and more efficient.
2019
Directly from within the Lending Pad LOS, users can seamlessly access DocMagic’s loan documents to close loans quickly, efficiently and compliantly
TORRANCE, Calif., June 26, 2019—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has completed an integration with cloud-based loan origination system (LOS) provider LendingPad from WEI Technology LLC, offering its document preparation services directly from within the LendingPad environment.
The new integration was completed in only 60 days and provides seamless access to DocMagic’s fully TRID-compliant documents, state-specific disclosures and paperless digital mortgage process. Users are able to order, generate, manage, receive and deliver electronically signed TRID-compliant documents such as the loan estimate (LE), closing disclosure (CD) and other relevant lending documentation.
“DocMagic believes in establishing system-to-system connectivity to as many parties as possible in order to efficiently and expeditiously complete transactions and close loans on time,” stated Steve Ribultan, director of business development at DocMagic. “Partnering with LOS providers like LendingPad is key to our goal of eliminating paper, ensuring compliance, and making the end user’s job as easy as possible.”
DocMagic’s Audit Engine automates data and document validation throughout key phases in the lending process with continuous compliance checks, providing accuracy at all times. Mutual customers will realize greater efficiency and compliance adherence due to this integration. It significantly reduces time and costs, ensures data integrity, and eliminates errors that can lead to non-compliance.
“We are pleased to partner with the industry-leading loan document preparation provider and look forward to a long-term relationship with DocMagic,” said Wes Yuan, managing director of WEI Technology. “With both of our platforms being completely SaaS and Cloud-based, there are a number of additional capabilities we can jointly leverage to make the life of the lender, originator and borrower much easier via digital lending.”
TORRANCE, Calif., May 16, 2019—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that the company will participate in Red Nose Day for the second year, transpiring on Thursday, May 23. Now in its sixth year, Red Nose Day is a collective effort focused on ending child poverty both in the U.S. and some of the poorest areas throughout the world.
“Being a part of Red Nose Day helps an incredibly good cause and we are happy to join together to support the event,” said Dominic Iannitti, president and CEO of DocMagic. “Our employees enjoy celebrating the day, giving back in the process, and most importantly assisting children in need.”
Since the launch of Red Nose Day in 2015 as a registered U.S. public charity operated by non-profit organization Comic Relief Inc., the fundraising campaign has collectively raised nearly $150 million. Funds are evenly split to support both domestic and international programs to create awareness, keep children safe, healthy and educated.
NBC will host Red Nose Day on Thursday, May 23 beginning at 8 p.m. EDT. The two-hour event features Kelly Clarkson, Blake Shelton, Kate McKinnon and other TBA celebrity appearances.
This year, DocMagic plans to incorporate a new twist into Red Nose Day, introducing a variety of fun red props. A brief video of DocMagic employees partaking in Red Nose Day last year can be viewed here: https://youtu.be/D9epRV9vk2Y.
2018
Coordinated by Art To Grow On Children’s Art Center Inc. and sponsored by DocMagic Inc., the unique art boxes were prepared and delivered to patients with assistance from Girl Scout and Brownie Troops, community patrons, families, grandparents, students, and local community volunteers
Torrance, Calif. Dec. 21, 2018—DocMagic, Inc.a comprehensive eMortgage software solutions provider, announced that it has purchased 100 custom designed Art Boxes to Art To Grow On Children’s Art Center Inc., which delivered the Art Boxes to patients being treated at the Children’s Hospital Los Angeles (CHLA) a non-profit, pediatric academic medical center that provides patient care, education, and leading-edge research to help children in need.
Each Art Box contains a master artist lesson inspired by architect Frank Lloyd Wright, a holiday frame, a journal, a sketchbook, colorful markers, wooden cars, hearts or animals for coloring and decorating, and foam snowflakes or snowman with holiday stickers.
“We are grateful to DocMagic for realizing the immense value that our Art Boxes provide children who are being cared for at Children’s Hospital Los Angeles,” said Lauren Dennis-Perelmuter, founder and president at Art To Grow On Children’s Art Center, Inc.
Coordinated by Art To Grow On Children’s Art Center Inc. and sponsored by DocMagic Inc., the unique art boxes were prepared and delivered to patients with assistance from Girl Scout and Brownie Troops, community patrons, families, grandparents, students, and local community volunteers
Torrance, Calif. Dec. 21, 2018—DocMagic, Inc.a comprehensive eMortgage software solutions provider, announced that it has purchased 100 custom designed Art Boxes to Art To Grow On Children’s Art Center Inc., which delivered the Art Boxes to patients being treated at the Children’s Hospital Los Angeles (CHLA) a non-profit, pediatric academic medical center that provides patient care, education, and leading-edge research to help children in need.
Each Art Box contains a master artist lesson inspired by architect Frank Lloyd Wright, a holiday frame, a journal, a sketchbook, colorful markers, wooden cars, hearts or animals for coloring and decorating, and foam snowflakes or snowman with holiday stickers.
“We are grateful to DocMagic for realizing the immense value that our Art Boxes provide children who are being cared for at Children’s Hospital Los Angeles,” said Lauren Dennis-Perelmuter, founder and president at Art To Grow On Children’s Art Center, Inc.
DocMagic is an award-winning Southern California-based software firm that automates key parts of the mortgage lending process, ensuring compliance, increasing efficiencies, making what can a confusing and complex undertaking for borrowers much easier, while at the same time removing enormous amounts of paper that lenders and borrowers traditionally deal with. The company is known for its charity work and philanthropy efforts both locally and nationally.
Perelmuter says that the art boxes will be delivered through January 1 for the holiday season but they can also be purchased anytime throughout the year. They are ideal for a myriad of different occasions. Anyone can order the boxes from individuals, to families, schools, Girls Scouts, Boys Scouts, organizations, companies, and other entities.
Torrance, Calif. and Salt Lake City, Dec, Dec. 19, 2018—Annual CUNA Lending Council Conference – DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and QRL Financial Services (QRL), and SecurityNational Mortgage Corporation (SNMC), an independent national mortgage banker, jointly announced that they successfully rolled out DocMagic’s comprehensive Total eClose™ platform.
Since rolling out Total eClose in September, SNMC has reduced borrower time at the closing table to as little as 15 minutes, and become one of the first national lenders to offer a true eClosing solution that involves no paper whatsoever. It has dramatically sped up the closing process, ensuring accuracy and loan quality, and delivering newfound efficiencies for borrowers, notaries and settlement providers. Total eClose enables SNMC’s customers to preview documents prior to closing, eSign all documents, and complete both remote and in-person eNotarizations. As a result, SNMC is now positioned to capture more market share, reduce operational costs, expedite closing times and elevate the borrower experience.
“Our goal was to perfect a completely digital eClosing process, not to be just another lender offering a basic hybrid closing,” said Steve Johnson, president of SNMC. “Achieving our goal required a powerful end-to-end technology, a perfectly executed seamless implementation, and an intuitive interface that everyone—staff, settlement service providers and borrowers—could use immediately, without a steep learning curve. We got that and more with DocMagic. Plus, the DocMagic implementation team was with us all the way. We never had to worry about a thing.”
The two companies approached the project as partners to ensure swift adoption and a quick understanding of the new workflow-driven eClosing process for both SNMC’s staff and customers. DocMagic worked hand-in-hand with the lender, leveraging its vast eMortgage expertise to help sculpt a unique strategy and a successful go-to-market launch. Unlike other document and eClosing solution providers, DocMagic takes an ultra hands-on approach to implementations, from developing the project roadmap, to training all parties—such as staff, title agents and notaries—to synchronized testing of each facet of the Total eClose platform.
“Our implementation teams function like expert consultants—we work very closely with each client, guiding them literally every step of the way,” said Dominic Iannitti, president and CEO of DocMagic. “There is a huge number of moving pieces in an eClosing solution. As a single source solution, we have intricate knowledge of every one of them, so there are none of the issues that plague other providers—not only immediately after the implementation, but over the long haul as well. In contrast, lenders who choose incomplete or cobbled-together eClosing technologies may have to hit the restart button within 12 to 18 months and search for a comprehensive solution.”
Anaheim, Calif., Oct. 29, 2018—Annual CUNA Lending Council Conference – DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that QRL Financial Services (QRL), a nationwide provider of residential mortgage lending services for community banks and credit unions, has leveraged its eVault technology to purchase eNotes. The announcement was made during the 24th Annual CUNA Lending Council Conference at the Disneyland Hotel in Anaheim, Calif.
Implementing an eVault means QRL can increase new business by extending its reach to lenders that are ready to implement eClosings and sell eNotes. In addition to providing improved service, they will competitively position themselves for the future. The deal will make QRL one of the first investors outside of the GSEs to begin purchasing eNotes.
“QRL is a farsighted organization, and by implementing eVault technology now, they stand to capitalize on marketplace opportunities as eNotes continue to gain adoption,” stated Dominic Iannitti, president and CEO of DocMagic. “We tend to partner with early adopters like QRL, who will reap the benefits of their industry insight. We look forward to the success they realize by utilizing our eVault and supporting technology.”
Because QRL is using DocMagic’s SmartDocs, all documents retain a tamper evident seal to ensure data and document integrity. Using static documents, that don’t include SmartDoc transactional (XML) metadata, means some organizations have the difficult, costly and time-consuming task of confirming that data and documents are in sync.
“Offering a truly paperless solution is the future. Consumers will expect and demand a closing experience that is more timely, convenient and informative,” says Alex Rivera, managing director at QRL Financial Services. “QRL’s ability to purchase and service eNotes will allow the credit unions and community banks that we service to stay ahead of the technology curve as they compete with the larger institutions in the race to improve the mortgage experience.”
The solution will also create greater secondary market process efficiencies because of reduced cycle times. QRL will be able to fund faster with fewer post-closing document issues.
WASHINGTON, D.C., Oct. 15, 2018—Secure Insight, a New Jersey-based data intelligence and vendor management firm, announced today at the MBA’s Annual Convention & Expo that it teamed with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, to develop and host an online training program to teach attorneys, title agents, notaries and other entities how to accomplish clear, compliant and completely paperless eClosing transactions.
Secure Insight noted that while lenders have made good progress installing digital mortgage point-of-sale solutions, it is just the initial step to implement a true eClosing solution. DocMagic developed Total eClose™, a comprehensive solution that enables a 100 percent paperless eClosing process from start to finish using a single-source vendor.
“Getting over the adoption hump starts with ease of use and adequate training so users feel comfortable conducting business within the eMortgage ecosystem,” stated Andrew Liput, president of Secure Insight. “We partnered with DocMagic because their Total eClose solution is one of the easiest and most intuitive in the industry, which is conducive to adoption for title agents, attorneys and notaries to understand and leverage.”
Secure Insight has an extensive database of more than 70,000 closing professionals that can take advantage of this vital training program, which provides the educational foundation that paves the way for their business practices to include eMortgages and eClosings. Lenders are increasingly seeking well-qualified professionals to work with and this wide-scale training program is poised to significantly move the adoption needle.
Company officials at Secure Insight say their ultimate goal is to become the industry’s go-to resource for lenders to access settlement professionals who are well-trained in eClosings, similar to what the Nationwide Multi-state Licensing System & Registry (NMLS) provides for loan officers. Lenders can provide a list of approved title companies and Secure Insight then works to implement a common and consistent process for training on a national level.
Tim Anderson, director of eServices at DocMagic stated: “The new training program and centralized database will provide key information and knowledge for professionals about our industry-leading Total eClose technology and assist lenders in locating professionals who are qualified to leverage it for the benefit of consumers. Further, one of the primary issues it solves is that in a purchase market, lenders really don’t choose the settlement professionals and typically don’t have direct relationships with them either nor the dedicated resources to continually train them to effectively support full eClosings. The online training eMortgage Education Module helps alleviate this impediment.”
The online training is officially set to launch on November 15, 2018 and will be available through a link on Secure Insight’s website. To learn more, contact Secure Insight at [email protected] or (877) 758-7878. The company will also be holding discussions at the MBA’s Annual Convention & Expo from Oct. 14 – 17 at the Walter E. Washington Convention Center in Washington, D.C.
TORRANCE, Calif., Oct. 9, 2018—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has donated a shipment of its popular custom-made pink bunny slippers, which will be handed out at a blood drive event for Breast Cancer Awareness Month. Twenty percent of all donated blood will be given to cancer treatment and research.
The upcoming event is being hosted by Golden Heart LA, a non-profit organization dedicated to helping children who suffer from life-threatening diseases or disabilities, and IET Capital, a real estate financing firm. Hundreds of the soft, fuzzy slippers will be on hand; anyone who participates in the event is welcome to a pair as part of the fun spirited giveaway.
Founded in 1987 by Dominic Iannitti, DocMagic has had a long-time mascot named “Doc,” a bunny that has become a recognizable part of DocMagic’s brand within the mortgage industry. In 2016, the bunny slippers were officially introduced and handed out at a mortgage technology convention where they ended up being in surprisingly high demand. Over the years the slippers have grown in popularity.
“I was at a mortgage trade show and was asked by a cancer survivor if she could have a pair for a friend going through chemo and that’s what spawned the idea to donate them to worthy causes,” stated Margaret Wendt,” a strategic business advisor and consultant for DocMagic. “Given that it is Breast Cancer Awareness Month, we wanted to offer participants, donors and volunteers at this important blood drive something fun to take home. If the pink slippers bring a simple smile to someone’s face, then it’s a win in our book.”
Incidentally, IET Capital, a sponsor of the event, happens to be a mortgage originator and an actual end user of DocMagic’s loan document preparation software, which is a widely utilized technology in the mortgage banking industry.
NEWPORT BEACH, Calif., Sept. 27, 2018—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and NotaryCam the leader in online notarization solutions, announced an integration that eliminates the need to wet-sign loan documents in the physical presence of a notary by allowing loan documents to be quickly and compliantly eNotarized online.
The integration works inside Total eClose™, DocMagic’s comprehensive end-to-end eClosing solution. It allows customers to initiate eNotarizations using NotaryCam’s remote service with just a few clicks, thus extending the convenience of a fully online eClosing experience through notarization – the final step in loan closing — without any hard stops or papering out.
“More and more states are permitting remote online notarization and as they do, we can expect to see consumer demand and expectation for remote eNotarizations to grow,” said Dominic Iannitti, president and CEO of DocMagic. “This integration allows DocMagic customers to meet consumer demand without any delays, which is a big part of our value proposition for all DocMagic products.”
The Mortgage Bankers Association has been collaborating with the American Land Title Association (ALTA) to prepare model legislation that would provide a framework for any state to adopt remote online notarization processes.
“Mortgage eClosings have progressed incrementally, and both DocMagic and NotaryCam have been pioneers and champions in the adoption the industry has achieved—so this integration is a natural fit,” said Rick Triola, founder and CEO of NotaryCam. “Our companies are very similar in what we deliver: the industry’s most flexible and customer-friendly experiences, backed by unfaltering accuracy, data integrity and compliance. We are looking forward to moving the industry forward, together.”
Prior to the addition of NotaryCam, DocMagic’s Total eClose solution supported eNotarizations by leveraging in-person notaries equipped with electronic notary signing technology, which it will continue to offer in addition to remote online notarizations, where permitted. Both DocMagic and NotaryCam are approved eMortgage technology vendors with the GSEs, having passed an extensive approval process.
MOUNT LAUREL, N.J. and TORRANCE, Calif. – KeyStoneB2B, the fintech solution that delivers competitive advantages for financial services leaders, and DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, today announced a partnership to provide DocMagic’s SmartCLOSE™ through the KeyStoneB2B platform. This partnership enables mortgage lenders and settlement service agents using the KeyStoneB2B platform to connect seamlessly to SmartCLOSE, a central portal for sharing and collaborating on documents, data and fees. DocMagic’s GSE-certified solution satisfies every phase of the entire Uniform Closing Dataset (UCD) mandate.
Assuring accuracy and consistency in loan data, documents and fees prior to closing has traditionally been a big challenge for lenders, due not only to the large amount of information being passed back and forth between lenders and numerous settlement service providers, but also to the amount of times the information contained in the file changes.
“Loan information changes on a moment to moment basis, and without a central system of record, lender compliance relies on multiple parties involved in the transaction, and their ability to proactively connect with each other to reconcile data, fees and information,” said Dominic Iannitti, CEO of DocMagic. “With the amount of detail and the number of people involved, it’s almost impossible to achieve completely accurate and consistent information unless there’s a single system of record.”
“Now that our lender customers have seamless access to SmartCLOSE, they and their settlement service providers can establish an accurate, always-updated single system of record, which will save them a lot of time and prevent a lot of potentially costly errors and inconsistencies,” said James V. Luisi, chief information officer and chief technology officer for KeyStoneB2B. “Plus, they benefit from a host of other features, not the least of which is compliance with the GSEs’ UCD mandate prior to its June deadline.”
In addition to its function as a collaboration hub, SmartCLOSE can also be used to generate and deliver GSE-certified UCD (Uniform Closing Dataset)-compliant files to Fannie Mae and Freddie Mac, prior to the GSEs’ June deadline. According to an announcement by Fannie Mae and Freddie Mac, file submissions that are not UCD-compliant no longer result in a warning, but rather will be escalated to critical or fatal severity and not be accepted in either GSEs’ delivery system as of June 25, 2018.
Other SmartCLOSE benefits include:
- Synchronized collaborative workflow
- Real-time chat and instant messaging
- Continuous compliance and TRID tolerance monitoring
- Automated event and audit logging
- Bi-directional integration with leading Loan Origination Systems
- Integrated eDelivery of borrower disclosures
- Certified MISMO 3.3 compliant XML data and document exchange
- Captures the required borrower and seller data information for
- Embedded XML Closing Disclosure (CD)
“Quality, compliance and efficiency are top concerns of most lenders and also three of the top benefits of an electronic process,” said Dominic Iannitti, president and CEO of DocMagic, Inc. “Together with companies like KeyStoneB2B, DocMagic is showing lenders not only how easy it is to attain these three components, but also how cost-effective it is as well.”
TORRANCE, Calif., June 5, 2018 — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and MortgageHippo, a Fintech-driven digital lending platform, announced a seamless eSign integration between their two platforms.
This integration enables MortgageHippo’s lender customers to provide borrowers with the ability to electronically sign documents at any stage of the mortgage process, from point-of-sale to closing. eSignatures eliminate the time constraints and accessibility limitations of manual signatures, thus providing lenders with a faster mortgage process and reduced origination costs. The eSignature process that MortgageHippo provides via DocMagic is as legal and valid as a manual process using printed and wet signed documents.
MortgageHippo provides mortgage lenders with a comprehensive suite of white-labeled web and mobile-ready products that enable a modern, efficient, secure and fully online borrower experience from the point-of-sale to closing.
Lenders can order disclosures directly from their loan origination systems (LOS), most of which are already integrated with DocMagic. MortgageHippo then provides eDelivery of the disclosures to the consumer via the MortgageHippo borrower portal for compliant eSigning using DocMagic’s eSign technology. This service is available for initial disclosures, Loan Estimates (LE), Closing Disclosures (CD) and closing documents.
“If lenders want to stay competitive, they need the tools to satisfy borrowers’ growing appetite for an easy and robust digital experience,” said Joe Dahleen, EVP and CSO at MortgageHippo. “MortgageHippo’s integration with DocMagic allows us to provide those tools to lenders by offering eSignature capability throughout the entire mortgage process.”
“We are pleased to partner with MortgageHippo and offer our mutual lender clients a strong digital mortgage point-of-sale solution that integrates tightly with our platform and LOS partners,” said Steve Ribultan, director of business development at DocMagic. “Integrating with MortgageHippo is yet another step that DocMagic is taking to deliver on the promise of achieving a truly paperless digital mortgage process.”
TORRANCE, Calif., May 29, 2018 — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that on Thursday, May 24, Red Noses can still be purchased from Walgreens retail outlets through June 2, 2018 in support of the fundraising campaign.
Red Nose Day is a fundraising campaign run by the non-profit organization Comic Relief Inc., a registered U.S. 501(c)(3) public charity. In 2015, Red Nose Day officially launched in the U.S. with a mission to bring people together to have fun, raise money, create awareness and help change the lives of children living in poverty. Globally, the event has raised over $1 billion since its launch in the U.K. in 1988.
“We want to continually give back to our community and those in need, and celebrating Red Nose Day is a very fun and novel way to do it while helping impoverished children,” stated Dominic Iannitti, president and CEO of DocMagic. “Our employees were excited to participate and had a blast doing it. We even had some of our staff at a mortgage banking conference in New York wearing red noses in our booth on the trade show floor, helping spread the word.”
Pictures of DocMagic employees supporting Red Nose Day can be found on the company’s Facebook page and a video can be found on YouTube.
TORRANCE, Calif., March 29, 2018 — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Deutsche Bank has successfully implemented and is actively utilizing its proprietary eVault technology.
“Deutsche Bank has an international footprint in multiple forms of lending and servicing, and having a company of their size select our eVault to safely and securely store sensitive loan documents speaks volumes about the bank’s confidence in our technology,” said Dominic Iannitti, president and CEO of DocMagic, Inc. “We are very pleased to partner with Deutsche Bank on a long-term basis to help achieve its servicing goals with our eVault.”
Using the DocMagic eVault, Deutsche Bank’s document custody group is now empowered to take full possession of electronically originated assets for clients as the loan market continues to transition to a paperless process. DocMagic establishes a legally compliant method to securely move original electronic files from one custodian to another, while preserving unique authoritative digital ownership.
Further, the eVault ensures authentication of original documents passing between owners, irrespective of how many duplicate electronic files there may be of the same record. The repository system within DocMagic’s eVault relies upon digital tamper-proof seals and a detailed, well-documented audit trail that ensures compliance and provides detailed reporting.
DocMagic also made available to Deutsche Bank the ability to leverage a unique dual-option solution that accesses its on-premise eVault installation to provide a gateway to seamlessly and securely connect to MERS via any browser, as well as by way of a direct VPN connection.
As a result of partnering with DocMagic, Deutsche Bank is now well-positioned to easily, compliantly and securely service loans housed in the eVault, creating newfound efficiencies and a competitive advantage for the bank. By providing eVault services to Deutsche Bank’s clients, they further cement themselves as a leader, innovator and provider of excellence in loan servicing.
Of note is that DocMagic has been at the forefront of developing award-winning technology that facilitates a complete eMortgage solution for the entire supply chain that fully supports an end-to-end, completely paperless digital mortgage process. This includes from the point-of-sale through eClosing, eWarehouse lending, secondary marketing and even servicing.
DocMagic’s eVault has been thoroughly vetted and officially approved by Fannie Mae, Freddie Mac, and MERS® to compliantly support eVaulting services.
TORRANCE, Calif., Jan. 24, 2018 — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has processed more than 300 million mortgage-related electronic signatures.
This milestone achievement is the direct result of increased adoption of several DocMagic technologies that feature its comprehensive eSigning platform, which can be accessed as a software-as-a-service (SaaS) or on-premise enterprise platform. Each of DocMagic’s digital platforms reports a significant increase in volume, which the company attributes to lenders’ growing need to prove a TRID-compliant, 100 percent paperless mortgage process.
“Borrower demand is driving the increase in eSignings, and lenders are choosing DocMagic to get a consistent, compliant eSigning solution that spans the original LE [Loan Estimate] to the final CD [Closing Disclosure],” said Dominic Iannitti, president and CEO of DocMagic. “Lenders know DocMagic is the go-to choice for compliance. We reached 300 million eSignatures because we have solved lenders’ number one burden for the past two years—electronic evidence of TRID compliance—while enabling them to stay competitive and enhance the overall borrower experience.”
DocMagic reports significant volume increases for SmartCLOSE™ and Total eClose™, two award-winning technologies that enable lenders to comply with TRID and UCD (Uniform Closing Dataset) guidelines. SmartCLOSE is a collaborative closing portal offering one system of record that assures accuracy, completeness, consistency and compliance of the data before final documents are drawn and the borrower electronically executes the documents using DocMagic’s integrated eSign technology. Total eClose, a complete paperless, digital closing solution with integrated eSignature and eNotarization capability, provides continuous compliance checks to assure all documents are complete, current, consistent and compliant.
“A lot of existing DocMagic customers adopted our eSign technology because it’s so much easier to access and use than other platforms,” said Iannitti. “We were already integrated with the vast majority of LOS systems, so providing eSigning functionality was a logical extension of our service. We also added new integrations, which brought onboard new eSigning customers. Having an eSign technology that can draw new customers while expanding use among existing customers shows the ubiquitous need for the functionality DocMagic’s technology provides.”
DocMagic provides the most commonly used eSignature technology in the mortgage and financial services space and is the leading provider of eClosing technology for the majority of state-sponsored eClosing pilot programs to support 100 percent paperless digital mortgage transactions.