It was like coming home. “The first moment Iwalked into this building, I knew it was the right place for our company,” Dominic “Don” Iannitti says.
Iannitti is president and CEO of DocMagic, the largest loan document production company in the U.S., and the building he’s speaking of is an impressive, 25,000-square-foot state-of the art technology center in Torrance, California. Within the mostly curved walls of this modern office space, more than 100 employees dedicate themselves to providing unparalleled service for their clients, some of which are the nation’s top lenders.
By Melanie Feliciano and Tim Anderson
What does the recently launched CFPB e-closing pilot really say thus far, and what may it reveal?
Any mortgage professional can attest to the overwhelming amount of paperwork associated with the closing process. For consumers, this final step to homeownership has become notorious for causing confusion and even surprises in the form of unexpected costs. In an effort to assess how the industry can reduce the complexity of this arduous process, the Consumer Financial Protection Bureau (CFPB) introduced its mortgage eClosing pilot, with seven financial institutions and four technology vendors participating in this program. While the closing is just one portion of the mortgage, this pilot could be key to proving the value electronic records, e-signatures, electronic workflows and even electronic notarizations can have, bringing to light trends that are critical to the mortgage lending world as a whole.
By Phil Hall
On the company Web site, DocMagic bills itself as “The largest loan document production company in the U.S.” And while that is a grand definition, it doesn’t capture the intelligence, innovation and celebrated customer service level that has earned the company the respect of the industry.
National Mortgage Professional Magazine spoke with Don Iannitti, the company’s founder, president and chief executive officer, to discuss how DocMagic emerged to become a leader in its field.
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.
We've Made It Easy For You...
DocMagic is focused on delivering fully compliant solutions to increase operational efficiency and reduce risk for our customers. We have completed extensive preparations to implement our new TILA-RESPA Integrated Disclosure (TRID) capabilities. We know that advance testing of these enhancements will help you to develop your own TRID compliant processes.
Mark Your Calendars!
MBA's National Technology in Mortgage Banking Conference
March 29 - April 1 | Hyatt Regency Orlando
We’re excited to attend the MBA's National Technology in Mortgage Banking Conference & Expo on March 29-April 1. Stop by booth #307 to catch up on the latest Mobile Technology, Integrated Disclosure implementation and new Collaborative Closing Solution. We’re always ready to demonstrate our end-to-end loan document preparation, compliance, and eDelivery solutions for the Mortgage Industry. See you there! Meet us at the conference. Schedule a meeting now!
Easy for the Borrower...
Convenient and Compliant for you!
Coming February 1st, a new look and intuitive features make DocMagic’s eSign platform better than ever – giving you a fast and compliant electronic document signing, management, and storage process! Just for borrowers, we focused on signer-friendly improvements designed to enhance the signing experience!
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?