Mortgage news to keep you compliant.

04/20/2015

We're Building a Collaborative Closing Solution!

Our Collaborative Closing Solution is a seamless 2-Way data exchange between lenders and settlement providers!

DocMagic brings lenders, settlement providers and associates together inside our new Collaborative Closing Platform to view and exchange data, coordinate closing costs and audit critical disclosure details prior to closing. DocMagic’s Collaborative Closing Platform is a secure, seamless and dynamic web-based solution designed to efficiently help you meet TILA-RESPA Integrated Disclosure requirements.

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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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03/24/2014

Helping Lenders Go Mobile

By Dominic Iannitti
Many paths exist for lenders to adopt mobile mortgage technology.

No one that deals with consumers in any industry can doubt the power of mobile technology. Mobile has been fully embraced by the majority of Americans and the result is quite visible. Just look at computing equipment sales in this country — PC shipments are down, and tablets and smartphone sales are skyrocketing. People want to take their computers with them wherever they go and they expect the companies they do business with to keep pace.

While the mortgage industry has perhaps avoided this shift for a time — probably due to the complexity of the industry itself and its software — the writing’s on the wall. As consumers dive deeper into mobile, lenders will have to find a way to do business with them in new ways. As lenders explore this new requirement, they will do well to consider a few key points, issues that they will face as they begin to interact with borrowers in the mobile environment.

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05/13/2013

Your Voice: Going “E” from End to End

By Tim Anderson
If you’re looking to go electronic, starting with a point solution only works with a good road map. Here’s why:

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 general, it looks like our industry is finally ready to say goodbye to paper forever, or at least a majority of it.

Anyone who has yet to be convinced will get all the persuasion they need when the Consumer Financial Protection Bureau implements the Three Business Day Rule for mortgage loan closings. When lenders and their closing agents are forced to deliver a correct settlement statement to the borrower three days before closing, they’ll learn just how difficult it will be to get everything right and on time in a paper world. Taking their businesses fully electronic will be the only way to ensure compliance.

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