Mortgage news to keep you compliant.

10/24/2017

LoanCare now subservicing eNotes with DocMagic’s eVault Technology

A leading national subservicer opens up market opportunities by servicing eNotes stored electronically via DocMagic's eVault Technology.

VIRGINIA BEACH, Va. – October 20, 2017 – LoanCare, a ServiceLink company, announced today that it has begun utilizing DocMagic, a provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, in order to add eVaulting capabilities to its process. This allows LoanCare to begin servicing loans registered with MERS® as eNotes.

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10/17/2017

Bringing Digital to MBA Annual in Denver!

There's so much happening at this year's 2017 MBA Annual! Are you ready? Stop by booth 707 to learn how DocMagic's digital technology is helping lenders to close on fully paperless mortgages. Total eClose™, our suite of seamless, end-to-end, digital eClosing technology, is providing solutions to problems across the mortgage lifecycle. Read more see what else we have in store for the event.

TechLIVE —  Fintech Solutions to Digital Mortgage
October 25th — 9:00 AM - 10:30 AM Level 3 - Four Seasons Ballroom 1
Tim Anderson, DocMagic Director of eServices

Learn about opportunities to digitally transform your operation and how lenders and agents are collaborating through technology.

 


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10/03/2017

eMortgage Revolution: The Fully Digital Future of Mortgage Signings is Here (Part 2 of 2)

Written by Nathan Batts. This is the part 2 of a blog series. Click here to read part 1.

What is Driving the Transition

North Carolina is not the first state to begin offering electronic mortgages, but it is the first state in which the government has taken an active role in the development and rollout. The decision by the Secretary of State to begin a pilot project, convene various market participants together for a discussion, and form an advisory committee with the goal of developing best practices and standards now positions North Carolina to help form the national model for such transactions.

The groundwork began many years ago. The legal basis for digital signatures and documents has existed at the federal level, through such laws as the Electronic Signatures in Global and National Commerce Act (E-Sign Act), and at the state level in North Carolina, through such laws as the Uniform Electronic Transactions Act found in Article 40 of Chapter 66, since at least the year 2000. Similarly, North Carolina has had a structure for electronic recording and electronic notarization in place since 2005. The North Carolina structure includes safeguards such as a requirement that the electronic notary must be physically present with the borrower so as to protect against fraud or impersonation and duress.

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09/28/2017

Going to the Digital Mortgage Conference? Schedule a meeting with us!

Join us at the 2017 Digital Mortgage Conference in sunny San Francisco, CA! At DocMagic, our goal is to make it easy for you to implement successful Uniform Closing Dataset (UCD) submissions to the GSEs.

A GSE-CERTIFIED UCD SOLUTION PROVIDER:
Generate & deliver UCD files to your GSE of choice UCD file with embedded PDF of the CD Borrower (and seller) data in the UCD file format Integrated via DocMagic’s API Our GSE-Certified solution is ready NOW... and allows you to satisfy 100% of the mandate far in advance of the 2018 deadline.

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09/28/2017

eMortgage Revolution: The Fully Digital Future of Mortgage Signings is Here (Part 1 of 2)

Written by Nathan Batts

The mortgage process is time-tested and ancient. While there has been considerable innovation, such as in the ability to shop for rates and apply online, many facets of the mortgage process have remained essentially unchanged. Paper and ink signatures continue to dominate transactions, closings are face-to-face, many documents are mailed, and filings with a local land records office are often still done in person. 

With wholesale transformations occurring everywhere in the banking business, we are at a critical point when changes in both technology and the law underpinning transactions are combining to bring about a new advancement for the mortgage industry. Electronic mortgages are positioned to transition from pilot project initiatives to routine occurrences and finally the new norm. In this article, the focus is on providing a high level explanation of these transactions and how the changes will benefit customers, financial institutions, and other market participants.

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09/21/2017

Paper is the Past

By Tim Anderson

Today, digital technology is driving more of the loan transaction away from paper to online. The industry is realizing that it’s time to get the paper out of our systems and manual processes. Paper documents take more time to process, require more people to validate, and key information from and follow-up efforts to track down missing pages, signatures, or total file loss.

For example, delivering a correct closing disclosure (CD) to the borrower three days before closing highlights just how difficult it is to get everything right and on time in a paper world.

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09/06/2017

Can a Single Platform Handle Both TRID & UCD?

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09/01/2017

HousingWire Honors Mike Zarrilli of DocMagic with its 2017 Insiders Award

TORRANCE, Calif., September 1, 2017 

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09/01/2017

DocMagic BorrowerMobile Connects Borrowers to Digital Mortgage

App opens a pivotal avenue for lenders to capture more market share

With every passing year, consumers rely even more on portable mobile devices for their personal and business activities — this includes obtaining a mortgage. Millennials in particular expect to handle every step of the process  on a phone or tablet, from starting the origination process to checking status, eSigning documents and completing the closing process. DocMagic’s BorrowerMobile app satisfies every aspect of this expectation. 

Because BorrowerMobile integrates with DocMagic’s single-source, comprehensive Total eClose solution, it revolutionizes the lender’s eClosing process into  a seamless, sophisticated and easy digital mortgage experience for not only the borrower, but also the lender and closing agents. Lenders who use BorrowerMobile gain efficiences, exceed borrower expectations for collaboration and communication and ultimately open a pivotal avenue for capturing more market share.

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08/30/2017

UCD Requirements Webinar - September 12th, 2017 at 10:00 AM PDT

Join Tanya Brennan, DocMagic's eService Product Specialist, for a FREE educational webinar.

Learn what you need to know to prepare for the Uniform Closing Dataset (UCD) Requirement before the September 25, 2017 deadline. Our special guests Daniel Miller, Digital Alliance Manager & Sejal Patel, Financial Service Manager from the Single Family Digital Products division at Fannie Mae will be on hand to answer your questions about UCD.

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