MORTGAGE INDUSTRY BLOG

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

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

Posted by DocMagic on 09/28/2017

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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DocMagic’s Total eClose Solution Facilitates First State Sponsored eClosing in North Carolina

Posted by DocMagic on 05/16/2017

Press Release: 
TORRANCE, Calif., May 16, 2017- DocMagic, Inc., the mortgage industry’s leading provider of document production, automated compliance and comprehensive eMortgage services, announced that it completed North Carolina’s first 100 percent paperless eClosing. The DocMagic-driven eClosing was completed on Friday, May 5th at North State Bank and was carried out in the presence of borrowers Jason and Karen Boccardi, the North Carolina Secretary of State, a closing paralegal, an eNotary, and members of the media who documented the historical event.

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