MORTGAGE INDUSTRY BLOG

For over 30 years DocMagic has developed award-winning loan document preparation, compliance and delivery solutions.

Doc-Prep Continues To Evolve

Posted by DocMagic on 12/05/2013

By Dominic Iannitti
President and CEO, DocMagic, Inc.

Lenders that are still operating in a paper-based world will be hard-pressed to survive.

In the early days of the mortgage industry, there were no document preparation companies, as this type of service simply wasn't required. However, over the past three decades, document preparation has become vitally important - some would argue critical - in order to ensure smooth lender operations. Let’s take a guided tour of the evolution of loan document production and delivery.

The early days

The mortgage industry grew out of community building, local loan associations and farm lending, supported by the federal government, with the goal of expanding homeownership. In those days, home lending was like every other aspect of real estate: It was local. There were no national lenders - and those lending for real estate were funding deals from deposits and holding them in portfolio. However, there were a few institutions large enough to require help putting the paperwork together for a home loan.

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DocMagic Completes Urgent Implementation for Lender Cashcall, Inc.

Posted by DocMagic on 10/25/2012

Press Release: DocMagic deploys loan document and compliance solutions with CashCall, Inc. in only 40 days.

TORRANCE, Calif.--October 23, 2012--DocMagic, Inc., a leading provider of fully-compliant loan document preparation and delivery solutions for the mortgage industry, successfully integrated its document preparation and delivery solutions with CashCall, Inc. (“CashCall”), one of the nation's premier consumer finance lenders. The recent project – achieved in just 40 days – quickly and expertly equipped CashCall with compliant loan documents, something its prior vendor couldn’t do despite 18 months of effort. This implementation allows CashCall’s staff to prepare and deliver fully compliant electronic loan documents with record speed in all 43 states where the company does business.

We place the highest priority on compliance—we can’t afford to work with vendors that aren’t 100% reliable,” said James Kiyohara, Chief Information Officer of CashCall. “After experiencing endless delays

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