Mortgage news to keep you compliant.

10/24/2017

LoanCare now subservicing eNotes with DocMagic’s eVault Technology

A leading national subservicer opens up market opportunities by servicing eNotes stored electronically via DocMagic's eVault Technology.

VIRGINIA BEACH, Va. – October 20, 2017 – LoanCare, a ServiceLink company, announced today that it has begun utilizing DocMagic, a provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, in order to add eVaulting capabilities to its process. This allows LoanCare to begin servicing loans registered with MERS® as eNotes.

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02/21/2017

Going "E" from End to End, Part 2

By Tim Anderson

The days of no pressure are over. Any lender that hasn’t already waded into the ePool had better be ready to jump. With immense regulatory pressure looming, the old method of just doing something is no longer sufficient. It's time for a new tack.

The recent news about the IRS decision is an ex- ample of this. With all the buzz around this news, we’re already hearing from lenders who are interested in a point solution that will allow them to take advantage of this decision for doing business with the IRS. This makes sense because this is front and center in the news, but since these lenders are not considering how this decision impacts the rest of their business, it’s short sighted.

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12/20/2016

What It Took to Make a Fully Paperless Mortgage

This fall, a Massachusetts lender closed on a fully paperless mortgage. The work that led to this rare achievement captures the difficulties originators still face in digitizing the loan process.

Radius Financial Group in Norwell electronically closed six loans beginning in October. The process was created in partnership with the tech vendor DocMagic, the MERS loan registry, Fannie Mae and Santander Bank.

Electronic closings and e-notes have been kicking around for a long time. Fannie Mae and Freddie Mac have purchased e-mortgages since the early 2000s. But they remain rare, partly because there are few warehouse lenders that can handle these transactions. Rarer still are completely paperless loan processes that combine an electronic closing with an electronically signed promissory note and deed of trust.

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09/29/2016

Corporate Settlement Solutions Implements DocMagic's Total eClose™ Solution

Press Release:

Fully TRID-compliant solution delivers superior service and a competitive advantage

TORRANCE, Calif., Sept. 29, 2016—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that Corporate Settlement Solutions (CSS), a title and settlement services company, has successfully implemented DocMagic’s Total eClose™ solution.As a result, CSS can offer a completely new customer experience, gain a competitive advantage, and remain 100 percent TRID compliant at all times.

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03/30/2016

DocMagic Announces the Formal Launch of its New Total eClosing Solution

 

Presss Release:
Transforms the entire mortgage process from initial eDisclosure to final eClosing and investor eDelivery

TORRANCE, Calif., March 30, 2016 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today the formal launch of its fully integrated eClosing solution that electronically transforms the entire mortgage process from initial eDisclosure to final eClosing through investor eDelivery. 

DocMagic's total eClosing process seamlessly integrates its eDocument library, SMARTDoc™ eNote with eSignature, eNotary, MERS eRegistration, eDelivery and eVault services in a comprehensive end-to-end eClosing solution that delivers substantially faster closings, total data transparency, superior regulatory compliance and maximum process efficiency. 

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