Mortgage news to keep you compliant.

02/17/2015

DocMagic Integration Supports MERS eRegistry

Press Release:
Company joins select group of vendors that can use industry standard eNote registry

TORRANCE, Calif., Feb. 17, 2015 -- DocMagic, Inc., the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, announced that the firm has now completed its integration with the MERS® eRegistry, making it one of only a few industry vendors to integrate with the widely used system.

Launched in 2004, the MERS® eRegistry is the legal system of record that identifies the owner or holder (Controller) and custodian (Location) for registered eNotes and provides greater liquidity, transferability and security for lenders, according to MERSCORP Holdings, Inc. It was created in response to demand by the mortgage industry for a system to satisfy certain safe harbor requirements under the Uniform Electronic Transactions Act (UETA) from 1999, and the Electronic Signatures in Global and National Commerce Act (E-SIGN) from 2000.

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01/14/2015

Executive Conversation: DocMagic reveals where eMortgages are headed

The new mortgage wave is now.

Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with Don Iannitti, president and CEO of DocMagic, to see how the company how the company thrived in 2014, along with its plans to grow in 2015.

HW: DocMagic has announced some key acquisitions in 2014, how are these coming along and where does the company plan to grow in 2015?

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11/11/2014

Podcast: The DocMagic Moment – Episode #21 – Acquisition of eSignSystems

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10/16/2014

DocMagic Acquires eSignSystems

Powerful addition makes DocMagic the undisputed leader in eSign & eVaulting Solutions

TORRANCE, Calif.—October 16, 2014—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today it has acquired award winning industry innovator and leader in electronic software solutions, eSignSystems, from WAVE Systems Corp. (NASDAQ: WAVX). As part of the acquisition, DocMagic will bring on the entire management team of eSignSystems, including co-founder and EVP of Sales and Marketing, Kelly Purcell, and SVP of Technology Solutions, Jonathan Kearns.

“The acquisition of eSignSystems by DocMagic is a marriage of extraordinary talented and visionary people with incredible SaaS and on-premise products and services,” said Dominic Iannitti, President and CEO of DocMagic. “The management team at eSignSystems has done an exceptional job bringing innovative solutions to the forefront of e-mortgage adoption, and their contribution to the eMortgage revolution cannot be overstated. By combining the best of eSignSystems on-premise software with DocMagic’s SaaS solutions, eSignature patent, compliance and enterprise infrastructure, there is no question that this acquisition was meant to be. Simply put, we are just better together.”

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10/08/2014

Become Part of the eSign Conversation

By Melanie Feliciano
ESRA Executive Board Member; and
Chief Legal Officer,
DocMagic, Inc.

I'm proud to be an executive board member of the Electronic Signature and Records Association (ESRA). Today I am sharing with you that eSignRecords2014, formerly the E-Signatures Conference, is taking place November 12-13 in New York City.

ESRA's annual conference serves as a platform for a wide variety of consumers, government entities and technology providers as well as organizations across several industries to share common goals, objective ideas, strategies and effective practices.

We will introduce a newly enriched and expanded program making this year a "must attend" event for both new and former attendees. I encourage you to join me and our fellow colleagues in the heart of Manhattan's Financial District to gain insight into emerging technologies, consumer engagement, contemporary industry practices, legal and regulatory matters, and evolving government trends.

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09/03/2014

DocMagic Helps Mountain America Make History with VA eClosing

Press Release:
They did it with an FHA hybrid eClosing earlier this year. This time, they tackle a VA loan.

TORRANCE, Calif.-September 2, 2014-
DocMagic, Inc., the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, is proud to announce that the firm has partnered again with Mountain America Credit Union to provide a paperless loan closing, this time for a loan insured by the Veteran's Administration. To the company's knowledge, this is one of the first VA loans that have been closed electronically since the VA made the announcement that it would begin accepting eSigned loan documents late last year.

"Mountain America Credit Union is committed to serving the men and women of the armed forces -- both those currently serving and our veterans -- by offering VA loans in a paperless environment," said Amy Moser, Vice President and Mortgage Services Manager for the Utah-based credit union. "Until now, few institutions could serve our military personnel effectively, especially those serving overseas. This loan closing proves that we can accommodate the needs of our armed forces personnel and veterans no matter where in the world they may be."

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08/07/2014

New Penn Approves DocMagic eSign Platform for Correspondents

DocMagic Inc. has announced that its eSign and eDelivery process has been approved by New Penn Financial to deliver compliant initial disclosures for approved correspondent lenders who sell their production to the mortgage company.

“Helping correspondent lenders grow their businesses while reducing their compliance risk is something we do well,” said Dominic Iannitti, president and CEO of DocMagic. “We’re very pleased to introduce our existing customers to New Penn Financial as an investor for their loans and look forward to providing our services to their existing correspondents, including our secure eSign, electronic document technology and industry-leading legal compliance services.”

As part of the relationship, DocMagic will provide New Penn Financial’s investor initial disclosure packages with DocMagic’s secure eSign service.

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06/26/2014

Mobilizing the Borrower's Experience - Free Webinar

Join DocMagic, the leader in mortgage document solutions, on Wednesday, July 16th, 10:00 AM PT for a FREE webinar. At DocMagic we think it’s critical for borrowers and lenders to communicate efficiently. That’s why we’re so excited about BorrowerMobile, an application designed for your borrower’s tablet or smart phone. Borrowers and lenders can interact, share information, and work together… with the touch of a finger!

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06/03/2014

eServices Webinar Series: DocMagic's Automated Appraisal and 4506-T Services

Save time & money by automating the mortgage loan process!

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05/05/2014

The Dotted Line: I Have Lived To See The Day

By Tim Anderson

On Wednesday, April 8 I received an official invitation to attend the CFPB hosted panel discussion on looking at better ways to improve the closing process at CFPB’s HQ office in DC. As I was sitting listening to all the government agencies sign-on in support of this initiative, I was having a sort of surreal out of body experience. It was June 28, 2002 when FannieMae published bulletin 02-08 announcing they would now begin purchasing this thing called SMART Doc eNotes. It was then that I became a bonifide convert and believer that this was going to revolutionize the way we do business and went in search of a doc company to develop and offer the solution.

What I didn’t know at that time was just how long this was going to take. During the meeting, Ann Epstein, Director of Change Management at Freddie Mac jokingly quipped, “eMortgage adoption has only been three to five years away for some time now” which was an insider joke since that line has been used and quoted so many times over the years. The real joke being we just didn’t know which three- to five-year period this actually was going to become a reality. Well, after twelve years of talking and promoting this, last Wednesday was the culmination of what I thought at times was a singular effort to evangelize and educate people on a better way to do business. I oftentimes felt like Don Quixote casting stones at windmills. As I expressed my joy to some of the other “old timers” who were in the room and drank the cool-aid early, “I’m just happy to be around to see it finally happen!”

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