MORTGAGE INDUSTRY BLOG

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Closing a Loan Electronically [eClosing Options]

Posted by Gavin T. Ales on 07/02/2019

 

Subscribers to our Compliance Newsletter already know that more and more states continue to pass laws that support electronic notarization which the mortgage industry now relies on to perform electronic loan closings. But considering those laws, and thinking about how a lender can begin to add electronic closings to their portfolio of services, it is helpful to think about the various types of electronic closings that can be done. These range from a fully electronic closing to various forms of ‘hybrid’ electronic closings (also “hybrid e-closing”).

So, what are these types of closings?

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DocMagic and LendingPad Integrate for Easy, Compliant Document Preparation and eSigning

Posted by DocMagic on 06/27/2019

Directly from within the Lending Pad LOS, users can seamlessly access DocMagic’s loan documents to close loans quickly, efficiently and compliantly

TORRANCE, Calif., June 26, 2019DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has completed an integration with cloud-based loan origination system (LOS) provider LendingPad from WEI Technology LLC, offering its document preparation services directly from within the LendingPad environment.

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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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NotaryCam-DocMagic Integration Delivers Remote Online Notarization, eClosing Capabilities for Mid America Mortgage

Posted by DocMagic on 03/25/2019

NEWPORT BEACH, Calif., March, 25 2019NotaryCam®, the leader in online notarization solutions, today announced that eMortgage pioneer Mid America Mortgage is now using the firm’s integration with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, to conduct remote online notarizations (RONs) through DocMagic’s Total eClose™ platform. Mid America will leverage the integration throughout its retail, correspondent and wholesale channels.

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MReport Magazine Names DocMagic’s Dominic Iannitti a ‘Top 25 Industry Leader & Influencer’

Posted by DocMagic on 02/14/2019

TORRANCE, Calif., Feb. 14, 2019DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that MReport magazine has named company president and CEO Dominic Iannitti one of its Top 25 Industry Leaders & Influencers for 2019.

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SecurityNational Mortgage Implements a Fully Paperless Closing Process Using DocMagic’s Total eClose Platform

Posted by DocMagic on 12/19/2018

Lender achieves full eClosing benefits, faster and more reliably, as the result of DocMagic’s consultative implementation process, single-source platform, and intuitive UI

Torrance, Calif. and Salt Lake City, Dec, Dec. 19, 2018—Annual CUNA Lending Council Conference - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and QRL Financial Services (QRL), and SecurityNational Mortgage Corporation (SNMC), an independent national mortgage banker, jointly announced that they successfully rolled out DocMagic’s comprehensive Total eClose™ platform.

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DocMagic and NotaryCam Integrate to Eliminate Reliance on In-Person Notarizations for Paperless eClosings

Posted by DocMagic on 09/28/2018

MBA and ALTA are collaborating to make it easier for states to accept remote online notarizations

NEWPORT BEACH, Calif., Sept. 27, 2018DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and NotaryCam the leader in online notarization solutions, announced an integration that eliminates the need to wet-sign loan documents in the physical presence of a notary by allowing loan documents to be quickly and compliantly eNotarized online.

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Freddie Mac Expands eMortgage Solutions with DocMagic's eVault Technology to Store and Control eNotes

Posted by DocMagic on 09/18/2018

Technology to validate data, assure quality and compliance for all pre-funded home loans

TORRANCE, Calif., Sept. 18, 2018DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced today that Freddie Mac has implemented its SaaS-based eVault technology and SmartREGISTRY™ platform.

DocMagic’s eVault provides a secure electronic repository for storing documents and performing automated eNote certification to Freddie Mac eMortgage lenders via Loan Selling Advisor®. By automating the eNote certification process, Freddie Mac will speed the funding process, thereby improving liquidity in the mortgage markets and reducing lender’s warehouse line costs.

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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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