MORTGAGE INDUSTRY BLOG

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

County recorders, eRecording, and RON—by the numbers

Posted by Pauline Vu on 07/08/2020

At DocMagic’s May 27 webinar, “Road-Tested eClosing Strategies for Today,” Ben Sherman, president of real estate recording services firm Synrgo, shared some surprising facts and numbers about county recorders and electronic closings.

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New support for power of attorney (POA) transactions amid COVID-19

Posted by Pauline Vu on 05/07/2020

A recent DocMagic update has made it easier to conduct transactions that involve someone with power of attorney (POA) acting on a borrower’s behalf, especially during the closing event. This is crucial during the current COVID-19 era, helping to reduce the amount of in-person contact needed by borrowers and title companies.

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DocMagic Provides Raffle Donations, Helping NEXT™ Conference Raise over $3,200 for Girls Inc. of Chicago

Posted by DocMagic on 09/03/2019

NEXT™ Raises over $3,200 in Less than One Hour for Girls Inc. of Chicago

CHICAGO, August 29, 2019 NEXT Mortgage Events LLC, creator of NEXT women’s executive mortgage summit, has announced that it raised over $3,200 in personal donations for Girls Inc. of Chicago at the #NEXTSUMMER19 charity cocktail party raffle, held Aug. 26 from 5:00 p.m. to 6:00 p.m. at The Gwen Hotel in Chicago.

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DocMagic Earns a Spot on the HW TECH100 For the Sixth Straight Year

Posted by DocMagic on 03/29/2019

TORRANCE, Calif., March 29, 2019— DocMagic, Inc., the premier provider of dynamic loan document preparation, automated regulatory compliance and comprehensive eMortgage solutions, announced that HousingWire has honored the company with the HW TECH100™ award for the sixth year in a row.

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DocMagic Included in First 10 Tech100 Winners

Posted by DocMagic on 03/26/2019

Source: Housing WireDocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, has been named as an early winner of this year's HousingWire Tech100 Award. Check out the early list below!

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Secure Insight Creates National eClosing Training Program Using DocMagic's Total eClose Solution

Posted by DocMagic on 10/15/2018

Online eMortgage Education Module was developed to help attorneys, title agents and notaries successfully conduct eClosings

WASHINGTON, D.C., Oct. 15, 2018—Secure Insight, a New Jersey-based data intelligence and vendor management firm, announced today at the MBA’s Annual Convention & Expo that it teamed with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, to develop and host an online training program to teach attorneys, title agents, notaries and other entities how to accomplish clear, compliant and completely paperless eClosing transactions.

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Lenders One Announces Lenders One eClosing by DocMagic at the Annual Summer Conference

Posted by DocMagic on 08/08/2018

A complete eClosing solution for Lenders One members to help accelerate the eMortgage journey

SALT LAKE CITY, Aug. 06, 2018 (GLOBE NEWSWIRE) -- Lenders One Cooperative, a national alliance of independent mortgage bankers, today announced the launch of Lenders One® eClosing by DocMagic, a complete eClosing solution for borrowers, lenders and investors. The eClosing solution provides an entirely paperless workflow that integrates every component of the closing process and guides users through each step.

Launched for Lenders One members today at the Lenders One Summer Conference in Salt Lake City, Lenders One eClosing by DocMagic is evidence that eMortgages and eClosings are no longer a future-state vision. When using the solution, the average loan closing “at the table” can be reduced from 60 minutes to 15 minutes, helping to dramatically improve the borrower experience. 

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DocMagic Integrates eSign Technology with MortgageHippo’s Digital Lending Platform

Posted by DocMagic on 06/05/2018

Integration provides borrowers with a digital mortgage process from POS through closing

TORRANCE, Calif., June 5, 2018  — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and MortgageHippo, a Fintech-driven digital lending platform, announced a seamless eSign integration between their two platforms.

This integration enables MortgageHippo’s lender customers to provide borrowers with the ability to electronically sign documents at any stage of the mortgage process, from point-of-sale to closing. eSignatures eliminate the time constraints and accessibility limitations of manual signatures, thus providing lenders with a faster mortgage process and reduced origination costs. The eSignature process that MortgageHippo provides via DocMagic is as legal and valid as a manual process using printed and wet signed documents.

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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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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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