MORTGAGE INDUSTRY BLOG

Read all the latest information about our solutions, compliance updates and company culture

Guaranteed Rate Partners with DocMagic to Cut Closing Time

Posted by DocMagic on 05/22/2018

Borrowers can have a 10-minute closing appointment when reviewing and electronically signing documents in advance

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that retail mortgage lender Guaranteed Rate can now cut closing time by electronically signing mortgage closing documents in advance.

Guaranteed Rate has branded the solution FlashClose, which allows customers to opt-in, review and complete most documents in advance of the notary arriving, saving an hour or more at the closing table – with some averaging a mere 10-minute appointment to provide inked signatures.

“Guaranteed Rate is always looking for ways to simplify the process using innovative technology to enhance the customer experience,” says Jim Hettinger, executive vice president of operations for Guaranteed Rate. “With the successful launch of FlashClose, powered through our partner DocMagic, this tool adds speed, convenience and accuracy to the closing process.”

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National Mortgage Professional Magazine Honors DocMagic as a 2018 ‘Top Mortgage Employer’ for the Second Year in a Row

Posted by DocMagic on 05/01/2018

DocMagic was again recognized as a ‘Top Mortgage Employer’ by National Mortgage Professional magazine (NMP) for 2018. DocMagic was one of only ten companies to be included in the Services Providers category.   

NMP arrived at the winners by polling its readers about their employers based on the following criteria: corporate culture; compensation; day-to-day management; internal communications; marketing; training; resources; long-term strategy; ingenuity; speed; technology; reputation; and industry participation.

NMP magazine 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. 

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Setting the Record Straight on Digital Mortgages

Posted by DocMagic on 04/12/2018

The Whole is Greater than the Sum of its Parts When it Comes to Digital Mortgage Solutions and eNotes

By Tim Anderson,
Director of eServices, DocMagic, Inc.

Having worked in the mortgage industry for over 30 years, I’ve pretty much seen it all. As a mortgage technologist, I’ve watched vendors and lenders alike create hype around various technologies and new buzz words over the years, only to see so many of them never gain adoption or provide value. Sometimes, the rollout is flawed or it’s an outright failed go-to-market strategy. I recall when the likes of Service Oriented Architecture (SOA), Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), cloud-based computing, and so many others instantly became attractive terms and acronyms with mortgage technology vendors flocking to incorporate them into their marketing speak—whether they delivered on their promises or not.  

Collaborating closely with the GSEs, investors, lenders, servicers, warehouse lenders, and many other industry participants, I’ve worked to forge ahead and evangelize the far-reaching benefits of a comprehensive “eMortgage” process, a term that has essentially been replaced by “digital mortgage.”  No matter what you call it, it’s always been about replacing and automating paper-based processes with automation.

Now we’re living in a world of digital mortgage. We’ve seen many new and small software companies pop up, driving hard to attract lenders with slick marketing speak and often low price points for what is sometimes immature, unproven technology.  

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Join us for a UCD-Compliance Demo at MBA Tech

Posted by DocMagic on 04/11/2018

See our UCD-Compliant Collaborative Closing Demo!

SmartCLOSE™ solves many of the key challenges between lenders and settlement providers. Join us as we demo the latest SmartCLOSE™ capabilities - electronic generation and delivery of XML UCD files to the GSE of your choice.

  • Automatic data quality & compliance validations
  • Supports the embedded XML, SMARTDoc® requirement today
  • Combines (merged) borrower and seller CD
  • Integrated to title systems to share XML data 

Join our LIVE DEMO at MBA Tech Showcase II

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Deutsche Bank Implements DocMagic’s eVault Technology

Posted by DocMagic on 03/29/2018

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.”

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Going 100 Percent Paperless: Where It Is Now and Where It Is Headed

Posted by DocMagic on 03/08/2018

National Mortgage Professional Magazine recently sat down with Tim Anderson, Director of eServices at DocMagic, to gain insight and trending into the mortgage industry’s current progress and needs to achieve a completely paperless lending transaction. Tim is a subject matter expert in end-to-end digital mortgage processes, electronic compliance and supporting eServices, among an array of other mortgage technologies. He has more than 30 years of industry experience working on both the lender and vendor side of the business.

NMP: Lots of attention has been placed on the importance of digital mortgages as of late, in particular in the last 18 months. Why the sudden rush?

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DocMagic Reaches 300 Million Mortgage eSignings as More Borrowers Opt for eSigning and More Lenders Require Proof of TRID Compliance

Posted by DocMagic on 01/24/2018

3-million-esign.jpgMilestone results from increased adoption of several DocMagic technologies

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.

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DocMagic Opens High-Tech Print Fulfillment Supercenter to Support Growth

Posted by DocMagic on 12/05/2017

New facility provides compliant solution to 'opt-out' requirements for mortgage transactions that revert from digital to paper processes

TORRANCE, Calif., Dec. 5, 2017 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has opened a 12,000 square foot print fulfillment center minutes from its Torrance, California headquarters. DocMagic added the high tech “supercenter” to support lenders’ growing need for secure, compliant paper documents as the mortgage industry transitions to a 100 percent digital mortgage process.

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Press Release: DocMagic’s Jonathan Kearns Appointed to MISMO Residential Standards Governance Committee

Posted by DocMagic on 11/29/2017

The committee is comprised of select subject matter experts

TORRANCE, Calif., Nov. 28, 2017 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Jonathan Kearns has been appointed to the Mortgage Industry Standards Maintenance Organization (MISMO) Residential Standards Governance Committee.

The committee is comprised of select subject matter experts, nine of which who will began their two-year term on Jan. 1, 2018 through Dec. 31, 2019. The Mortgage Bankers Association (MBA) is the parent corporation of MISMO and is actively involved in the organization’s ongoing contributions to the industry.

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LoanCare now subservicing eNotes with DocMagic’s eVault Technology

Posted by DocMagic on 10/24/2017

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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