While the method of faxing back documents that have been wet-signed by the borrower has been a success for InkSign, DocMagic recognizes that the use of facsimile transmission is waning while the method of scanning documents and emailing or uploading them is increasing in popularity. Accordingly, DocMagic has enhanced InkSign to enable borrowers to scan and upload wet-signed documents, if they prefer this method over facsimile transmission.
By Dominic Iannitti, President and CEO, DocMagic, Inc.
It was Leonardo da Vinci who said, “Obstacles cannot crush me. Every obstacle yields to stern resolve. He who is fixed to a star does not change his mind.” When it comes to facing hurdles, those of us working to remove paper from the mortgage process can certainly relate to one of history’s greatest innovators, a man who dreamed of helicopters and solar power centuries before they would become reality. Then again, in the 10-plus years since federal e-signature legislation was signed into law, it occasionally feels as though the e-mortgage is also centuries away from becoming a reality.
A big reason for this is the collapse of the housing market, which led to increased regulations and tighter investor guidelines that have drawn out the time it takes to originate loans.
By Dominic Iannitti
For years, the paperless mortgage has stood as the holy grail of all mortgage technology efforts. There have been sufficient reasons for optimism, including the growth of the Internet as a software delivery tool and the passage and adoption of electronic signature legislation such as the Uniform Electronic Signatures in Global and National Commerce Act, which give legal force and effect to electronic signatures and electronic records.
Somewhere along the way, however, the housing market crumbled and regulatory compliance became everyone’s primary focus. But a new development is about to put electronic signatures back on the map.
DocMagic, Inc., the national mortgage industry's premier provider of document production and compliance technologies, is now an active member of the Electronic Signature and Records Association.
DocMagic, Inc, the mortgage industry's leading provider of loan document and automated compliance, hosted an eSign webinar on May 3, 2012 . The webinar instructs how DocMagic eSign can help you electronically sign, seal, and deliver any document safely for FREE! You'll also learn, step-by-step, how to get documents executed instantly. DocMagic's Chief Legal Officer, Melanie Feliciano, educates viewers in regards to the Federal ESIGN Act, and Ron Carrillo, Training and Education Supervisor, dispays how this process saves you valuable time and money!