Author Archives: DocMagic, Inc.

DocMagic’s Total eClose Solution Facilitates First State Sponsored eClosing in North Carolina

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the mortgage industry's leading provider of document production, automated compliance and comprehensive eMortgage services, announced that it completed North Carolina's first 100 percent paperless eClosing. The DocMagic-driven eClosing was completed on Friday, May 5th at North State Bank and was carried out in the presence of borrowers Jason and Karen Boccardi, the North Carolina Secretary of State, a closing paralegal, an eNotary, and members of the media who documented the historical event.

Attorneys from the Hunoval Law firm attended via interactive video. The entire eClosing took only about 20 minutes to complete.

DocMagic's Total eClose(TM), which contains all the components to facilitate a fully compliant, 100 percent paperless digital closing, served as the single platform that enabled the entire transaction. eNotarization was facilitated by long-time DocMagic strategic partner World Wide Notary (WWN).

DocMagic facilitated four of the five statewide-first eClosings, as well as the CFPB's eClosing pilot program. The North Carolina eClosing was part of a state sponsored eClosing Pilot Program that was established in 2016 by North Carolina Secretary of State Elaine F. Marshall to create a best practices guide for mortgage lenders seeking the heightened security, speed and efficiency of eClosings.

North State Bank is the only lender in North Carolina, and one of only a handful of lenders nationwide, to have successfully completed a 100 percent paperless eClosing. The eNote was registered on the MERS eRegistry and made available to Mid America Mortgage, the investor in the transaction-within minutes of being executed by the borrowers.

Unlike hybrid systems that still require various documents to be papered-out, DocMagic's eClosing system enables a 100 percent paperless process-this means that the eClosing requires zero paper from any party whatsoever, including documents requiring notarization.

"There's a big difference between 100 percent paperless eClosings, and semi-paperless eClosings when it comes to quality, speed, security and efficiency," stated Dominic Iannitti, president and CEO of DocMagic. "Together, DocMagic and our partner World Wide Notary provided the most comprehensive, advanced technology solution to enable the safest, highest quality, fastest, most efficient experience-not only for the borrowers, but also for the lender, investor, and every settlement services provider at the closing table."

"This was our first North Carolina eClosing; it is not our last. We want this to become a regular option for lenders and their customers because of the many advantages eClosing offers versus the slower, traditional paper-based system," Secretary of State Elaine F. Marshall said in a statement.

Secretary of State Marshall has been a leading advocate for modernizing traditional business practices in North Carolina to better compete at the national and international levels.

"We're proud to have been selected by the state of North Carolina to participate in this historic event and to work with progressive lenders like North State Bank who are moving the industry forward into a faster, safer and more efficient closing process," said Iannitti. "We're looking forward to further supporting Secretary of State Marshall's efforts to elevate the competitiveness of businesses in North Carolina."

DocMagic's digital mortgage suite includes all the critical components required to execute a 100% paperless eClosing transaction. The single-source platform creates a highly-efficient, transparent and fully compliant eClosing process that guides users through every step, logs all activities and creates an irrefutable audit trail.

About DocMagic:
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, regulatory compliance, eSign, eDelivery and comprehensive eMortgage services for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy.

For more information on DocMagic, visit http://www.docmagic.com/.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

DocMagic, Inc., the mortgage industry's leading provider of document production, automated compliance and comprehensive eMortgage services, announced that it completed North Carolina's first 100 percent paperless eClosing. The DocMagic-driven eClosing was completed on Friday, May 5th at North State Bank and was carried out in the presence of borrowers Jason and Karen Boccardi, the North Carolina Secretary of State, a closing paralegal, an eNotary, and members of the media who documented the historical event.

DocMagic and BeSmartee Integrate, Creating a Fast, Fully Digital Application Process for Borrowers

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the mortgage industry's leading provider of document production, automated compliance and comprehensive eMortgage services, announced that it completed an integration with BeSmartee, a leader in mortgage automation technology.

This integration creates a seamless connection between the two technologies, which fulfill the first two major events in the eMortgage process: online borrower application and electronic delivery of disclosures. Via this integration, DocMagic and BeSmartee are enabling borrowers to complete a loan application and receive disclosures in a matter of minutes, rather than the days or weeks that is typical with manual processes. Once the application is complete, disclosures are automatically created and presented to the borrower for electronic signature, with no additional effort by the lender.

"eMortgages offer better speeds, security, quality and accuracy, which translate to a better borrower experience and more efficient, economical operations for the lender," said Dominic Iannitti, president and CEO of DocMagic. "This integration further escalates those benefits by allowing two great technologies to operate at their peak collaborative performance."

BeSmartee connects borrowers and lenders directly with providers that instantly validates the borrower's income, asset and credit information, such as the IRS, financial institutions, and credit bureaus. The technology's auto-population feature helps borrowers complete the application in a fraction of the time, while its validation feature provides lenders with vetted information for a faster underwriting process.

DocMagic technology saves time by generating a fully-compliant electronic disclosure package based on the borrower's information in a matter of minutes, rather than the days it takes with even the fastest manual processes. That package is then instantly presented to the borrower, who can review and execute the documents on-screen, once again reducing a traditionally days-long process to minutes.

"A true eMortgage uses no paper at all. It's a start-to-finish electronic process that requires collaboration among certain technology providers," said Iannitti. "DocMagic is proud to be the solution that connects not only those technologies, but also all of the entities that use them, to enable a truly electronic process. It's great to partner with progressive companies like BeSmartee who are helping to make eMortgages possible."

"The BeSmartee/DocMagic integration avails a level of speed that the industry hasn't experienced before but that, as more lenders discover its impact on sales and operations, more borrowers will come to expect," states Tim Nguyen, co-founder and CEO of BeSmartee. "Together, we're delivering the type of speed and service that Millennials have come to expect, which is key to securing new business from this coveted group of borrowers."

About DocMagic:
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, regulatory compliance, eSign, eDelivery and comprehensive eMortgage services for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.

About BeSmartee:
BeSmartee develops automated mortgage origination software they private label and license to lenders. By utilizing artificial intelligence, BeSmartee's origination processes enables lenders to take their borrowers from the initial contact into underwriting in 20 minutes with a complete loan application, credit report, income/asset documents, eSigned/eDelivered disclosures and paid appraisal. Founded in 2007, with headquarters in Huntington Beach, Calif., the BeSmartee team has worked on the front and back-end of mortgage originations for over a decade, applying their knowledge to deliver a truly unrivaled user experience, with tools and features catering to the specific needs of lenders and their customers. To learn more, please visit http://www.besmartee.com/.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

DocMagic, Inc., the mortgage industry's leading provider of document production, automated compliance and comprehensive eMortgage services, announced that it completed an integration with BeSmartee, a leader in mortgage automation technology.

Texas Capital Bank Implements DocMagic’s Total eClose Solution for eWarehouse Lending

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Texas Capital Bank has implemented its Total eClose(TM) solution. This implementation enables the bank to function as an eWarehouse lender. They can now accept and fund eNotes from its lender customers that want to drastically speed up the process of closing and selling loans.

Total eClose(TM), DocMagic's eClosing technology, is a single-source, centralized platform that provides all necessary components to enable a completely paperless digital closing. Texas Capital Bank is a leading provider of warehouse credit facilities to fund mortgage origination and acquisition.

Texas Capital Bank recently funded its first eNote with a key lender client using DocMagic's eMortgage technology suite. The eNote was instantly delivered to the bank, registered with MERS, and securely stored in DocMagic's eVault. They completed the entire transaction electronically and transferred the eNote to Fannie Mae in minutes, rather than days.

"DocMagic's eClosing and eMortgage solutions have provided Texas Capital Bank with the tools necessary to incorporate the funding of eNotes into our everyday operational procedures," said Donnie Martin, Executive Vice President at Texas Capital Bank. "We believe the digital mortgage revolution and acceptance of eNotes will continue to grow. We are pleased to have partnered with DocMagic to build out the infrastructure needed to support the eNote funding process at the bank, which in turn supports the trend towards digital mortgages."

"It's very rewarding to support Texas Capital Bank as they move forward and break ground as an eWarehouse leader," said Dominic Iannitti, president and CEO of DocMagic. "In this industry, it's forward-thinking, tech-savvy organizations like this that thrive, set the pace and reach their goals. They understand the fundamental role that advanced technology plays in their - and the industry's - progress. We look forward to collaborating further as we help drive true end-to-end eMortgage adoption."

The Consumer Financial Protection Bureau (CFPB) has repeatedly encouraged lenders to implement eClosing technology and operational processes to make obtaining a home loan as easy as possible for borrowers.

About DocMagic:
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com/.

About Texas Capital Bank
Texas Capital Bank is a commercial bank that delivers highly customized financial services to businesses across the country, including credit and treasury solutions designed for mortgage lenders through our Mortgage Finance division. Texas Capital Bank is a wholly owned subsidiary of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) and is recognized as one of Forbes Best Banks in America and The Dallas Morning News' Top 100 Places To Work. To learn more, please visit https://www.texascapitalbank.com/.

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Texas Capital Bank has implemented its Total eClose(TM) solution. This implementation enables the bank to function as an eWarehouse lender. They can now accept and fund eNotes from its lender customers that want to drastically speed up the process of closing and selling loans.

DocMagic Achieves 42 Percent Growth in 2016

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, reported a 42 percent increase in revenue for 2016. The company credits its growth to the mortgage industry's demand for products that enable TRID compliance, eSignatures and eClosings. This is the second consecutive year that DocMagic's revenue has increased by roughly 40 percent.

"Lenders have been looking for ways to assure TRID compliance since 2015, and DocMagic's SmartCLOSE technology has become the industry's go-to solution," said Dominic Iannitti, president and CEO of DocMagic. "Our user base has grown quickly. A lot of existing DocMagic clients saw the value of SmartCLOSE(TM) immediately. It has also been an entry point for many of our new lender clients."

SmartCLOSE(TM) enables lenders to interface with settlement providers and other relevant parties in a secure portal to share, edit, validate, audit, track and collaborate on documents, data and fees. In the past two years, DocMagic has completed numerous key integrations between lenders using SmartCLOSE(TM), their loan origination systems, and new settlement service provider systems. More integrations are being developed for 2017.

"The number of eSignatures completed has increased significantly since launching SmartCLOSE and Total eClose," said Iannitti, referencing activity for eSignSystems, a division of DocMagic that provides digital transaction management and electronic storage systems. "Lenders appreciate that they can stay compliant while gaining the speed and convenience of a digital process."

DocMagic rolled out its Total eClose(TM) solution for end-to-end eClosings in Q4 2016. Total eClose(TM) is a single-source eClosing suite that contains all the components needed to facilitate a completely paperless digital closing - from start to finish - without any hard stops or papering out.

DocMagic anticipates its growth will continue in 2017. In February of this year, the company completed a successful pilot that enabled one of the country's largest warehouse lenders to accept and fund eNotes, a transition that Iannitti expects to become a major industry trend in the next 12 to 18 months.

"It's very simple - at DocMagic, we're dedicated to addressing the industry's needs and demands with the very best solutions on the market," said Iannitti. "That's been the foundation of our business since we started, and we're pleased to say that it remains the formula for our growth today."

DocMagic's growth plans include ongoing calibration of its infrastructure. To maintain its standard for high quality and service, the company added staff in nearly all functional areas, including senior software developers, project managers, implementation specialists, technical support representatives, integration staff and business development professionals.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services for the mortgage banking industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, reported a 42 percent increase in revenue for 2016. The company credits its growth to the mortgage industry's demand for products that enable TRID compliance, eSignatures and eClosings. This is the second consecutive year that DocMagic's revenue has increased by roughly 40 percent.

DocMagic Named to HW TECH100 List for the Fourth Straight Year

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it was designated to HousingWire's HW100(TM) for the fourth year in a row. DocMagic was recognized for its contributions in loan document preparation, compliance, eSign and eDelivery solutions, which include its Total eClose(TM) solution for end-to-end eClosings that was launched in Q4 2016.

"It's rewarding to provide technology that is so respected and revered in our industry, not only by the companies we serve, but also by organizations like HousingWire," said Dominic Iannitti, president and CEO of DocMagic. "We take our position as an industry leader very seriously. Our innovation is part of our commitment to moving the industry forward. We are honored to once again be named to the HW TECH100 list."

"The companies that make up the 2017 HW TECH100 are the cream of the crop of the entire housing industry, from real estate to mortgage lending, servicing, and investment," said HousingWire Senior Financial Reporter Ben Lane. "These companies aren't just taking part in the housing industry's technological revolution; they're leading it."

HousingWire states that the mortgage industry is leveraging technology like never before, streamlining processes across the spectrum of lending, servicing, investing and real estate. The combination of regulatory pressure and consumer expectations have set a high standard for efficiency and transparency, requiring a significant investment of time, money and talent to hit the right notes for both.

"The companies in the 2017 HW Tech100 cover the entire mortgage finance spectrum. There's hardly a corner of our industry that hasn't been transformed in some way, either by Fintech startups focusing on a specific software need or legacy companies evolving to compete in the new environment," said HousingWire Magazine Editor Sarah Wheeler. "Now more than ever, these companies are delivering the innovation this industry needs to do its most important job: supporting the American Dream."

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.

About HousingWire:

HousingWire is the nation's most influential industry news source covering the U.S. housing economy, spanning residential mortgage lending, servicing, investments, and real estate operations. The company's news, commentary, magazine content, industry directories, and events give more than one million industry professionals each year the insight they need to make better, more informed business decisions. Winner of numerous awards, including a 2012 Eddie Award for national editorial excellence in the B2B Banking/Business/Finance category, HousingWire has been recognized for excellence in journalism by the Society of Business Editors and Writers, the American Society of Business Press Editors, the National Association of Real Estate Editors, and Trade Association Business Publications International. Learn more at www.housingwire.com.

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it was designated to HousingWire's HW100(TM) for the fourth year in a row. DocMagic was recognized for its contributions in loan document preparation, compliance, eSign and eDelivery solutions.

DocMagic Ranked a ‘Top 100 Mortgage Employer’ by National Mortgage Professional Magazine for Second Consecutive Year

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it was named to National Mortgage Professional (NMP) magazine's annual "Top 100 Mortgage Employers" list for 2017. This is the second consecutive year that DocMagic has earned placement on the annual list.

Winners were selected using NMP magazine's proprietary Mortgage Company Employer Score (MECS), which weighs and scores various areas in a company to arrive at the list each year. A polling of NMP subscribers is used with the following criteria: corporate culture; compensation; day-to-day management; internal communications; marketing; training; resources; long-term strategy; ingenuity; speed; technology; and industry participation.

"Employees are the heart and soul of DocMagic-it's their ingenuity, dedication, and constant commitment to raising the bar that continues to make us one of the mortgage industry's longstanding category leaders," stated Dominic Iannitti, president and CEO of DocMagic, Inc. "We are pleased that National Mortgage Professional magazine has recognized the contributions the DocMagic team makes to the industry, and we're proud to be selected as a Top 100 Mortgage Employer for the second consecutive year."

NMP is one of the mortgage industry's leading go-to sources for extensive news coverage for mortgages, origination, compliance, secondary marketing, servicing, settlement, technology, trending, and more.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com/.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it was named to National Mortgage Professional (NMP) magazine's annual "Top 100 Mortgage Employers" list for 2017. This is the second consecutive year that DocMagic has earned placement on the annual list.

Dominic Iannitti Named to HousingWire’s 2016 Vanguard Award List for Major Industry Contributions

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that president and CEO, Dominic Iannitti, was honored by HousingWire with its 2016 Vanguard Award, which recognizes top mortgage executives for professional accomplishments and for their positive impact on the industry at-large.

The Vanguard Award list is limited to business unit executives within the housing and mortgage finance spheres, specifically those who stand out as innovators and trailblazers. The bar is set extremely high, so all Vanguard nominees represent the highest caliber and demonstrate substantial industry influence.

"The HW Vanguards continues to impress going into its second year; the winners are second-to-none and this list represents the finest cross section of mortgage talent available," said Jacob Gaffney, HousingWire editor-in-chief.

This was a momentous year for Iannitti. 2016 saw the launch of two industry-altering platforms at DocMagic, and Iannitti's role at the helm of those projects no doubt earned him a spot on the Vanguard list.

In the first half of the year, Iannitti led the charge in rolling out SmartCLOSE(TM), DocMagic's award-winning collaborative closing portal, a solution for TRID compliance that brings lenders, settlement service providers, and other relevant parties together in a secure environment to share, edit, validate, audit, track, and collaborate on documents, data, and fees. Since its launch, SmartCLOSE has gained rapid industry adoption, proving it to be a true game-changer in loan closing today.

Following the launch of SmartCLOSE(TM), Iannitti shifted his focus to DocMagic's single-source Total eClose(TM) solution, where he once again played an integral role in the project's conception and development for the marketplace. The Total eClose(TM) suite contains all of the components needed to facilitate a completely paperless digital closing - from start to finish.

By October of 2016, DocMagic completed the mortgage industry's first comprehensive eClosing for radius financial group, inc. The eClosing included both lender and closing/settlement agent documentation, eNotarization, eWarehousing and eNote acceptance. Unlike other so-called eClosing solutions (often merely hybrids which still require that certain documents be papered out), DocMagic's centralized Total eClose(TM) platform facilitates a truly paperless digital closing, an industry milestone that cannot be underestimated.

"I am very honored and humbled to have been selected by HousingWire's editorial board to appear on this list of esteemed mortgage executives," commented Dominic Iannitti, president and CEO of DocMagic. "This award is absolutely the result of our continual technology innovations and the unwavering commitment and enthusiasm of the exceptional team at DocMagic."

About DocMagic:
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services for the mortgage banking industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.

About HousingWire:
HousingWire.com is the leading independent source for news, commentary and analysis covering the entire mortgage banking and financial markets. Staffed by a core team of experienced journalists and editors, HousingWire delivers breaking news and opinions on U.S. housing and mortgage finance. HousingWire has a well-developed reputation for delivering today the news other trade outlets will be reporting on tomorrow - and our readers value the information they get from http://www.housingwire.com/ first.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that president and CEO, Dominic Iannitti, was honored by HousingWire with its 2016 Vanguard Award, which recognizes top mortgage executives for professional accomplishments and for their positive impact on the industry at-large.

Total eClose Enables Industry’s First Completely Paperless Digital Closing – Start to Finish

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has successfully completed the mortgage industry's first comprehensive eClosing in Massachusetts, which included both lender and closing/settlement agent documentation, for radius financial group, inc.

Unlike other eClosing technologies, DocMagic's Total eClose(TM) solution is a single-source platform that contains all of the components needed to facilitate a completely paperless digital closing. Paramount to achieving the end-to-end eClosing was eNotarization services provided by strategic partner World Wide Notary (WWN). Once the eClosing process begins, documents requiring notary acknowledgment are automatically grouped by the system and electronically executed in the presence of the notary. The entire process takes only minutes and can happen in the comfort of the borrower's home.

"There are a few mortgage technology vendors that have been working to deliver an eClosing for some time now, but they have all fallen short in various ways," said Dominic Iannitti, president and CEO of DocMagic. "Most of these solutions are merely hybrids that require certain documents to be executed on paper and often force lenders to maintain numerous complex integrations. With Total eClose, however, you work with a single vendor, on a single platform, and clients need only access DocMagic or the company's SmartCLOSE(TM) system to seamlessly and compliantly fulfill a paperless closing."

DocMagic's solution includes all of the critical components required to execute a fully digital eClosing transaction: its dynamic eDocument library that features eSignature, eNotary, and MERS eRegistration capabilities, and the system automatically stores all data and documents within a secure eVault designed to make investor eDelivery as simple as a few clicks. The single-source platform creates a highly-efficient, transparent and fully compliant eClosing process that guides users through every step, logs all activities and creates an irrefutable audit trail.

Also key to DocMagic enabling radius' first eClosing was the participation of Santander Bank, which served as the eWarehouse lender. "In addition to having integrated eNotary capability, one of the last remaining obstacles to adoption has been the reluctance of warehouse players to fund eNotes," said Tim Anderson, director of eServices at DocMagic. "We helped test and implement an eWarehouse process to eDeliver acceptance of the eNote to Santander Bank within seconds after the eClosing was completed. This is an industry-altering achievement."

DocMagic maintains detailed evidence of TRID compliance from the original loan application and Loan Estimate (LE) to delivery of the final Closing Disclosure (CD) with data, compliance determinations, calculations and documents all stored within DocMagic's eVault for proof of compliance.

Also notable is that in 2014, the Consumer Financial Protection Bureau (CFPB) selected DocMagic as one of only 12 participants in its eClosing pilot project that was created to explore the benefits of digital mortgage technology for consumers. CFPB Director Richard Cordray determined the pilot to be a success and encouraged lenders to implement an eClosing strategy. Since that time, DocMagic has worked to perfect its end-to-end eClosing solution.

DocMagic's integration with World Wide Notary (WWN) is an exclusive partnership for eNotarizations. Founded in 2003 and based in Vernon, Texas, WWN is the developer of DigaSign, a proven solution that enables efficient, electronic notarizations.

About DocMagic

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com/.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has successfully completed the mortgage industry's first comprehensive eClosing in Massachusetts, which included both lender and closing/settlement agent documentation, for radius financial group, inc.

DocMagic Announces ‘eQC’ Automated Due Diligence Solution for Investors and Correspondent Lenders

TORRANCE, Calif., May 12, 2016 (SEND2PRESS NEWSWIRE) -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced the formal launch of its fully integrated "eQC" solution that automates due diligence for investors and correspondent lenders. eQC provides a complete closed loan MISMO 3.3/UCD XML data file, an automated compliance report, and a detailed audit trail with a document integrity certification that certifies that the XML data provided and documents match prior to investor delivery.

The automated compliance component of eQC includes a complete electronic record of compliance that arms investors and correspondent lenders with a detailed audit trail that eliminates concerns over future TRID audits and violations.

Moody's Investor Services, Inc. compiled a report that revealed more than 90 percent of loans reviewed by third party due diligence firms were not TRID compliant. Since that time, outstanding issues with TRID have been adversely affecting the secondary market's appetite to purchase loans. Concerns over potential assignee liability can result in loans remaining on warehouse lines for longer periods, extending lock periods, placing loans into suspension, and even potentially affecting the credit rating for mortgage bonds that are included in future RMBS pools.

"The CFPB requires all parties involved in the mortgage finance transaction to demonstrate evidence of TRID compliance," asserts Tim Anderson, director of eServices at DocMagic. "Our new eQC solution gives investors and correspondent lenders warranted electronic evidence of compliance with TRID and other critical regulations, and ensures that the audited data is exactly the same data that appears on the documents disclosed to the borrower. This is really the holy grail of automated due diligence compliance."

eQC also provides compliance data on federal regulations like high cost, QM, ATR, as well as applicable state regulations. It works by leveraging DocMagic's sophisticated audit engine, which determines if a condition is out of compliance. The audit engine immediately flags the causes of any issues for the user, directs the user to a link with information on where and how to fix it, and then verifies that the error was corrected. A full date and time stamped audit trail is created by following a consistent data validation process that runs over 10,000 compliance rules and edits designed to verify and validate legal compliance throughout the loan origination process.

This audit trail also provides full date and time stamp tracking of all borrower disclosures, a complete record of the compliance checks and conditions performed on the loan, and the complete MISMO 3.3/UCD XML data file. The XML data file can be used to electronically board and re-verify compliance at any time in the future through a tool set API that enables high speed access to this due diligence functionality.

"With over 8,000 originators running millions of closed loans through DocMagic's compliance portal each year, eQC leverages the long-standing industry acceptance of our compliance solutions to bring our correspondent lenders and investors true automated proof of compliance," said Dominic Iannitti, president and CEO of DocMagic.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy

For more information on DocMagic, visit http://www.docmagic.com/.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

DocMagic Twitter: @DocMagic https://twitter.com/DocMagic

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/docmagic-announces-eqc-automated-due-diligence-solution-for-investors-and-correspondent-lenders-2016-0512-06.shtml.

NEWS SOURCE DocMagic, Inc. :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2016 Send2Press® Newswire, a service of Neotrope®.

DocMagic Wins 2016 Innovation Award for its SmartCLOSE TRID Collaborative Closing Portal

TORRANCE, Calif., April 27, 2016 (SEND2PRESS NEWSWIRE) -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that PROGRESS in Lending presented the company with one of its annual Innovation Awards for the development and widely successful launch of its industry-leading SmartCLOSE(TM) collaborative closing portal for TRID compliance. DocMagic was one of only seven recipients to receive the honor out of numerous applicants.

The Innovation Awards were presented to the winners at a ceremony held by the mortgage technology focused PROGRESS in Lending Association at the MBA's National Technology Mortgage Banking conference held in Los Angeles, California. Judges scored applications using a weighted scale that focuses on achievements over a 12 month period for each innovation's overall industry significance, originality, positive change on the industry, intangible efficiencies gained, and hard return on investment.

PROGRESS in Lending cited the primary reason DocMagic won the award, was that early on the company developed a second-to-none, comprehensive solution that effectively addresses the Consumer Financial Protection Bureau's (CFPB) introduction of the TILA-RESPA Integrated Disclosure (TRID) rule, which is backed by numerous testimonials and extensive metrics. Notable is that DocMagic IS one of the few vendors that reps and warrant its documents, the APR, Loan Estimate and Closing Disclosure calculations. In addition, DocMagic offers a one-of-a-kind insurance-backed TRID compliance guarantee of up to $5 million.

"Many technology vendors simply jumped on the TRID bandwagon, announcing very light solutions that lack core functionality and were unable to automate the new process from start to finish and ensure 100 percent compliance," said Dominic Iannitti, president and CEO of DocMagic. "SmartCLOSE leverages our long-standing, sophisticated compliance and document management technology to bring lenders, settlement providers and other relevant parties together inside a secure collaborative portal to share, edit, validate, audit, track, and collaborate on documents, data, and fees."

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/docmagic-wins-2016-innovation-award-for-its-smartclose-tm-trid-collaborative-closing-portal-2016-0427-04.shtml.

DocMagic Named ‘Top 100 Mortgage Employer’ for 2016 by National Mortgage Professional Magazine

TORRANCE, Calif., April 14, 2016 (SEND2PRESS NEWSWIRE) -- DocMagic, Inc. the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that it was named to National Mortgage Professional magazine's annual "Top 100 Mortgage Employers" list for 2016.

The award is based on the magazine's Mortgage Company Employer Score (MECS), which weighs various factors in order to compile the list. A polling of readers is used with the following criteria: corporate culture; compensation; day-to-day management; internal communications; training resources; long-term strategy; innovation; speed; technology; and industry participation.

"We are honored to be recognized by National Mortgage Professional magazine as one of the Top 100 Mortgage Employers in the country to work for," said Dominic Iannitti, president and CEO of DocMagic, Inc. "Our employees take a great deal of pride in and are very passionate about the innovative products and services we develop and support. DocMagic's ongoing success is predicated on its greatest asset-our highly valued personnel. This award is the result of their hard work and unwavering commitment to our mission."

Employees are offered a number of unique benefits that include catered lunches, regular company outings, an onsite gym and game room dubbed the Rabbit Hole, informal and formal breakout rooms, relaxation lounges, ad hoc staff appreciation awards, recreational events, and more. DocMagic's corporate culture is designed to inspire teamwork, creativity, and synergy.

The company brings personnel together in an open working environment that is conducive to collaboration, intrapreneurship, company building, and out-of-the-box thinking. DocMagic is known for its reputation of treating staff as not just employees but as family; many of them have been with the company since its founding, which speaks volumes.

Notable is that DocMagic's multi-million dollar facility was recently recognized by the American Institute of Architects with a 2013 AIA Institute Honor Award for Interior Architecture. The twenty-five thousand sq. ft., state-of-the-art company headquarters was developed with the comfort of its employees in mind to operate in an optimal, very unique and collaborative work environment.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.

DocMagic Twitter: @DocMagic - https://twitter.com/DocMagic

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/docmagic-named-top-100-mortgage-employer-for-2016-by-national-mortgage-professional-magazine-2016-0414-01.shtml.

DocMagic Announces the Formal Launch of its New Total eClosing Solution

TORRANCE, Calif., March 30, 2016 (SEND2PRESS NEWSWIRE) -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today the formal launch of its fully integrated eClosing solution that electronically transforms the entire mortgage process from initial eDisclosure to final eClosing through investor eDelivery.

DocMagic's total eClosing process seamlessly integrates its eDocument library, SMARTDoc(TM) eNote with eSignature, eNotary, MERS eRegistration, eDelivery and eVault services in a comprehensive end-to-end eClosing solution that delivers substantially faster closings, total data transparency, superior regulatory compliance and maximum process efficiency.

The total eClosing solution is also seamlessly integrated into DocMagic's SmartCLOSE(TM) collaborative closing portal, offering a secure, centralized online environment for lenders, settlement providers and other parties to share, validate, audit, track and collaborate on documents, data and fees backed with a 100% TRID compliance guarantee. The new process is easily accessible from within SaaS-based SmartCLOSE(TM) and on-premise SmartSAFE XL(TM) systems, including the eSigning, eDelivery and eVaulting of all documents.

DocMagic's eMortgage solutions have been vetted and approved by Fannie Mae and MERS to support all three eMortgage categories for eVault, eNote and eClosing. DocMagic's participation as a leading player in numerous eClosing pilots, including the CFPB's eClosing Pilot initiative last spring has led to the rapid advancement of eClosing adoption as a solution for regulatory compliance tracking, reducing data errors, data transparency, and bringing borrower knowledge and satisfaction to the loan process.

"The total eClosing solution is an out-of-the box, easy to implement, fully paperless, patented solution that combines the most advanced functionality and continuous compliance tracking with robust borrower and lender friendly user features," said Dominic Iannitti, president and CEO of DocMagic. "Borrowers can communicate with their lenders and settlement agents and eSign documents while DocMagic runs continuous automated compliance audits throughout the entire loan process, guaranteeing compliance on factors affecting the salability of your loan, from TRID tolerance levels to compliance with anti-predatory lending and higher-priced mortgage loan laws, all while tracking every iteration of the data and speeding up the closing process."

"The DocMagic total eClosing solution is revolutionizing the traditional paper mortgage process and the timing of this couldn't be better," says Tim Anderson, director of eServices at DocMagic. "With the electronic data verification, delivery and record retention requirements of TRID, lenders have to demonstrate proof of compliance, control and accountability of the entire mortgage process. We have developed only platform in the industry that integrates and supports all key eMortgage functions within a single solution. The total eClosing solution provides a full electronic process in a one stop solution - which is truly revolutionary."

The successful launch of DocMagic's total eClosing solution as well as other recent innovations will be celebrated at the MBA Technology Conference & Expo at the company's 'Futurescape' event on Monday, April 4, 2016, at 6 p.m. at The Conga Room inside LA Live.

Interested parties can learn more about DocMagic's new eClosing solution by calling (800) 204-4255 or emailing sales@docmagic.com.

About DocMagic:
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy.

For more information on DocMagic, visit http://www.docmagic.com/.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

Twitter: @DocMagic

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/docmagic-announces-the-formal-launch-of-its-new-total-eclosing-solution-2016-0330-01.shtml.

DocMagic Unveils New Premium Rep and Warrant Offering Guaranteed TRID Compliance up to $5 Million

TORRANCE, Calif., Feb. 16, 2016 (SEND2PRESS NEWSWIRE) -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, today announced the development of an extensive set of new reps and warrants for its calculations, documents and data, which provides peace of mind to lenders when it comes to compliance with the TRID rule.

The greater risk of civil liability under the new TRID disclosure requirements means lenders and investors may face liability for incorrectly completing various sections on the TRID disclosures. With DocMagic's TRID-ready systems and now the Premium Compliance Guarantee, DocMagic has implemented a solution that mitigates lender risk of non-compliance. With the Premium Compliance Guarantee, the Loan Estimate and Closing Disclosure are guaranteed to be accurate and complete.

Additionally, the Premium Compliance Guarantee ensures timely electronic delivery of initial disclosures, compliance with federal and state high cost/HPML laws and accurate document selection logic resulting in compliant loan packages. The Guarantee also ensures that all other compliance and data validation audits will trigger at the appropriate times during the loan process, providing critical warning messages to help lenders stay in compliance with applicable laws.

The offering is backed by a $5 million dollar guarantee (up to $50,000 per loan) and DocMagic customers will enjoy a 36-month claim filing period. Beginning February 15, 2016, all new DocMagic customers will automatically receive the new premium rep and warrant offering. Existing DocMagic customers will be given the opportunity to protect their future loan files for an additional nominal fee.

"Now more than ever, our clients need assurance that they are operating in full compliance at all times," said Dominic Iannitti, president and CEO of DocMagic, Inc. "That is why we invested in developing and integrating the Premium Compliance Guarantee into DocMagic's suite of products, including the TRID-based SmartCLOSE(TM) collaborative closing portal, for every user on every transaction."

Rich Horn, the former CFPB attorney who led the TRID rule making stated, "Long before the initial Aug. 1 TRID effective date, DocMagic's industry-leading compliance, legal and technology teams proved that their systems were fully TRID compliant. This enabled DocMagic to provide an insurance-backed guarantee on their products and services, including TRID disclosures prepared using SmartCLOSE(TM), which speaks volumes about the confidence they have in their solutions."

"With the integration of the Premium Compliance Guarantee into DocMagic's suite of services, significant lender risk is virtually eliminated," asserted Melanie Feliciano, chief legal officer at DocMagic. "DocMagic has developed the most advanced and effective compliance solution in the industry - and we've backed it with a solid guarantee we are proud to offer our clients."

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/ .

DocMagic Twitter: @DocMagic https://twitter.com/DocMagic .

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/docmagic-unveils-new-premium-rep-and-warrant-offering-guaranteed-trid-compliance-up-to-5-million-2016-0216-02.shtml.