Mortgage news to keep you compliant.

05/16/2017

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

Press Release: 
TORRANCE, Calif., May 16, 2017- 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.

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05/10/2017

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

Integration reduces time from initiating a loan application to receiving disclosures from days or weeks to just minutes

TORRANCE, Calif., May 9, 2017 (SEND2PRESS NEWSWIRE) — 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.

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04/25/2017

DocMagic, BeSmartee, & LendingQB Host Webinar on Digital Lending

Press Release:
DocMagic, BeSmartee and LendingQB Host Webinar on Digital Lending To Improve Loan Process

Costa Mesa, CA, April 24, 2017 – DocMagic, the mortgage industry’s leading provider of document preparation, automated compliance and comprehensive eMortgage services, BeSmartee, a leading online mortgage automation company and LendingQB, a provider of lean lending loan origination technology solutions, will hold a webinar discussing the opportunities and challenges of the “Digital Lending” paradigm on April 26, 2017 from 10 a.m. to 11 a.m. PST.

Webinar attendees can expect to hear how the mortgage lending process is being transformed into a pure digital format, and how that impacts borrowers, lenders and institutional investors. Webinar topics will include a discussion of current-day digital lending efforts on the point-of-sale, loan origination, closing and delivery phases of mortgage lending. The three hosts will demonstrate how their systems interact with each other and highlight the critical aspects of data integrity, workflow, exchange and compliance that provides the necessary framework for a pure digital lending process. 

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04/21/2017

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

One of the nation’s largest lenders completes its first eClosing as an eWarehouse lender, using DocMagic’s Total eClose™ solution for eWarehouse lending

TORRANCE, Calif., April 21, 2017—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™ 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.

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04/13/2017

North Carolina institutes eClosing pilot

North Carolina Secretary of State Elaine Marshall wants the state to be a leader in eCommerce. It adopted the Uniform Electronic Transactions Act, the Uniform Real Property Electronic Recording Act and the Electronic Notarizations Act. All of this was to prepare for the day when the state could institute eClosings.

“We have been working diligently over the past 15 years to build the infrastructure to build electronic commerce,” Director of Electronic Notarization and Notary Enforcement Ozie Stallworth said. “We thought it was a prime time for North Carolina to step forward and lead in this space because we have the legal infrastructure in place to support a full end-to-end eClosing. We looked to our state’s lending institutions to see whether or not they understood and believed that the industry was headed down the road towards eClosings.”

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04/07/2017

DocMagic Achieves 42 Percent Growth in 2016

TORRANCE, Calif., April 5, 2017— 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.
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03/30/2017

Total eClose Wins 2017 Innovation Award

progressinlending.com | And The 2017 Winners Are …
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03/16/2017

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

TORRANCE, Calif., March 16, 2017—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.

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02/21/2017

Going "E" from End to End, Part 2

By Tim Anderson

The days of no pressure are over. Any lender that hasn’t already waded into the ePool had better be ready to jump. With immense regulatory pressure looming, the old method of just doing something is no longer sufficient. It's time for a new tack.

The recent news about the IRS decision is an ex- ample of this. With all the buzz around this news, we’re already hearing from lenders who are interested in a point solution that will allow them to take advantage of this decision for doing business with the IRS. This makes sense because this is front and center in the news, but since these lenders are not considering how this decision impacts the rest of their business, it’s short sighted.

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02/16/2017

Going "E" from End to End, Part 1

By Tim Anderson

For years a core group of us has been telling the industry that it’s time to get the paper out of our systems. We’ve performed studies that show paper is more expensive, that it takes more time to process, is usually missing pages or signatures, or gets lost. It took the foreclosure crisis to really bring home to the industry the negative implications of lost or incomplete documents. After billions of dollars in settlements to federal regulators and attorneys, it looks like our industry is finally ready to say goodbye to paper forever, or at least a majority of it.

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