MORTGAGE INDUSTRY BLOG

For over 30 years DocMagic has developed award-winning loan document preparation, compliance and delivery solutions.

DocMagic Unveils New Premium Rep and Warrant Offering Guaranteed TRID Compliance up to $5 Million

Posted by DocMagic on 02/16/2016

Press Release:
DocMagic puts its money where its mouth is with the most far-reaching compliance guarantee of its kind in the mortgage industry

TORRANCE, Calif., Feb. 16, 2016 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, today announced the development of an extensive set of new reps and warrants for its calculations, documents and data, which provides peace of mind to lenders when it comes to compliance with the TRID rule.

The greater risk of civil liability under the new TRID disclosure requirements means lenders and investors may face liability for incorrectly completing various sections on the TRID disclosures. With DocMagic's TRID-ready systems and now the Premium Compliance Guarantee, DocMagic has implemented a solution that mitigates lender risk of non-compliance. With the Premium Compliance Guarantee, the Loan Estimate and Closing Disclosure are guaranteed to be accurate and complete.

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DocMagic's SmartCLOSE Production Ready - Receives High Scores from Lender and Settlement Providers

Posted by DocMagic on 08/14/2015

Press Release:
Most Feature Rich and Easy-to-Use TRID Solution in the Industry Hits a Home Run

TORRANCE, Calif., Aug. 13, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that after extensive testing by lenders, settlement providers and other relevant parties, SmartCLOSE™ has been honed to perfection and been moved to a secure cloud-based production environment for its official release date of Aug. 15, 2015.

In June, over 250 lenders participated in the testing of DocMagic's new SmartCLOSE collaborative closing portal in order to provide key feedback to DocMagic for continued fine-tuning of the system. As a result of months of preparation and testing, lender and settlement provider feedback and fine tuning the technology, SmartCLOSE is now ready for production.

"The innovative enhancements that DocMagic has added to the portal makes SmartCLOSE the most feature rich and easy-to-use TRID solution in the industry," said Kevin Marconi, COO of United Fidelity Funding. "Even though the TRID deadline was pushed to October 3, DocMagic's early readiness today gives me the peace of mind I absolutely must have to know that I am TRID ready."

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Compliance Edge™ Webinar Series | TILA-RESPA Integrated Disclosure Rule

Posted by DocMagic on 04/13/2015

Join DocMagic's Compliance Edge™ for a FREE Webinar!

TRID: The Basics

This webinar is the first in our series focused on the TILA-RESPA Integrated Disclosure (TRID) Rule. Our goal is to help you with answers to the compliance questions you’ll be asking as you prepare for TRID reform on August 1, 2015.

DocMagic’s Chief Compliance Officer, Gavin T. Ales, will clarify the fundamental requirements surrounding the new regulations.

Build your fundamental knowledge:
■ Loans which are covered by the TRID Rule
■ New definitions explained
■ The Loan Estimate/Closing Disclosure in detail
■ Timing & tolerance requirements

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DocMagic Secures Exclusive Agreement with World Wide Notary, Inc. to Leverage eNotarization Technology for eClosings

Posted by DocMagic on 03/10/2015

Press Release:
Major partnership enables DocMagic to compliantly process a fully paperless, true mortgage eClosing - from start to finish

TORRANCE, Calif., March 10, 2015 - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that it formed an exclusive strategic alliance with World Wide Notary, Inc. (WWN), a pioneering developer of electronic notarization services. The partnership integrates WWN's patent pending DigaSign eNotary technology into DocMagic's eServices platform to deliver a fully paperless eClosing solution.

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