Mortgage news to keep you compliant.

Tags tila-respa. Integrated disclosures, eSign, settlement providers, mortgage collaborative closing, lenders, title companies, News, LOS system, TRID

We're Building a Collaborative Closing Solution!

04/20/2015

mortgage-collaborative-closingOur Collaborative Closing Solution is a seamless 2-Way data exchange between lenders and settlement providers!

DocMagic brings lenders, settlement providers and associates together inside our new Collaborative Closing Platform to view and exchange data, coordinate closing costs and audit critical disclosure details prior to closing. DocMagic’s Collaborative Closing Platform is a secure, seamless and dynamic web-based solution designed to efficiently help you meet TILA-RESPA Integrated Disclosure requirements.

An electronic, workflow-driven system automates the collaboration between lenders and their settlement providers:

  • Lenders & settlement providers work in sync inside our Collaborative Closing Platform
  • Electronic access to edit, validate and approve MISMO 3.3 compliant, content-enabled XML disclosure documents
  • Settlement provider changes automatically sync with TRID forms upon lender approval
  • Automatically track TRID tolerance audits, fee increases and their related approvals
  • Electronically deliver, sign, manage, and store documents via DocMagic’s eSign technology
  • Complete electronic audit trail to document compliance with TRID’s timing requirements and other significant events
  • Seamless integration with title, closing, and LOS systems

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