MORTGAGE INDUSTRY BLOG

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

Introducing DocMagic's New eSign Experience!

Posted by DocMagic on 01/15/2015

Easy for the Borrower...
Convenient and Compliant for you!

Coming February 1st, a new look and intuitive features make DocMagic’s eSign platform better than ever – giving you a fast and compliant electronic document signing, management, and storage process! Just for borrowers, we focused on signer-friendly improvements designed to enhance the signing experience!

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Helping Lenders Go Mobile

Posted by DocMagic on 03/24/2014

By Dominic Iannitti
Many paths exist for lenders to adopt mobile mortgage technology.

No one that deals with consumers in any industry can doubt the power of mobile technology. Mobile has been fully embraced by the majority of Americans and the result is quite visible. Just look at computing equipment sales in this country — PC shipments are down, and tablets and smartphone sales are skyrocketing. People want to take their computers with them wherever they go and they expect the companies they do business with to keep pace.

While the mortgage industry has perhaps avoided this shift for a time — probably due to the complexity of the industry itself and its software — the writing’s on the wall. As consumers dive deeper into mobile, lenders will have to find a way to do business with them in new ways. As lenders explore this new requirement, they will do well to consider a few key points, issues that they will face as they begin to interact with borrowers in the mobile environment.

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DocMagic Solves Lender Compliance Woes Regarding ECOA Valuation Rule

Posted by DocMagic on 01/23/2014

Press Release:
Provides customers proof of Appraisal Delivery, Tracking & eSign Solutions

TORRANCE, Calif.—January 15, 2014—DocMagic, Inc., the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, has announced that it has a variety of solutions available today that easily and efficiently enable a lender to be compliant with the ECOA Valuation Rule, no matter what the lender’s business rules are.

Under the ECOA Valuation Rule, a creditor must provide an applicant with a copy of the appraisal and other written valuations "upon completion, or three business days prior to consummation of the transaction, whichever is earlier." This means that the lender must prove that in fact, the delivery of the appraisal occurred within the prescribed time requirements. If the appraisal is revised, then a new appraisal must be sent to the borrower. The appraisal or written valuation must automatically be provided, regardless of whether credit is extended, denied, incomplete or withdrawn.

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