By Tim Anderson

For years a core group of us has been telling the industry that it’s time to get the paper out of our systems. We’ve performed studies that show paper is more expensive, that it takes more time to process, is usually missing pages or signatures, or gets lost. It took the foreclosure crisis to really bring home to the industry the negative implications of lost or incomplete documents. After billions of dollars in settlements to federal regulators and attorneys, it looks like our industry is finally ready to say goodbye to paper forever, or at least a majority of it.

RESPA and TILA regulations require that initial disclosures be delivered or placed in the mail no later than three business days after the lender receives the borrower's written application. Satisfying this requirement can be a labor-intensive endeavor requiring paper, toner, postage fees and late night runs to the post office. Moreover, preparation delivery, signatures and return can take time and delay the origination process.

DocMagic has the technology to safely deliver compliant disclosure into the hands of your borrowers in seconds.

In this webinar learn how the MDIA impacts the loan origination process and how electronic delivery and acknowledgment provides simple resolution.