MORTGAGE INDUSTRY BLOG

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DocMagic Appoints Gavin T. Ales as Chief Compliance Officer

Posted by DocMagic on 08/19/2015

Press Release:

TORRANCE, Calif., Aug. 18, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that it has named Gavin T. Ales as chief compliance officer (CCO).

Mr. Ales has hands-on involvement in the development, implementation and maintenance of DocMagic's compliance products and services. This includes managing DocMagic's library of mortgage loan documents, which are used by lenders and brokers in all 50 states, the District of Columbia, and U.S. Territories, monitoring legal and regulatory changes, and developing and maintaining DocMagic's automated compliance tests and audits.

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DocMagic's SmartCLOSE Production Ready - Receives High Scores from Lender and Settlement Providers

Posted by DocMagic on 08/14/2015

Press Release:
Most Feature Rich and Easy-to-Use TRID Solution in the Industry Hits a Home Run

TORRANCE, Calif., Aug. 13, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that after extensive testing by lenders, settlement providers and other relevant parties, SmartCLOSE™ has been honed to perfection and been moved to a secure cloud-based production environment for its official release date of Aug. 15, 2015.

In June, over 250 lenders participated in the testing of DocMagic's new SmartCLOSE collaborative closing portal in order to provide key feedback to DocMagic for continued fine-tuning of the system. As a result of months of preparation and testing, lender and settlement provider feedback and fine tuning the technology, SmartCLOSE is now ready for production.

"The innovative enhancements that DocMagic has added to the portal makes SmartCLOSE the most feature rich and easy-to-use TRID solution in the industry," said Kevin Marconi, COO of United Fidelity Funding. "Even though the TRID deadline was pushed to October 3, DocMagic's early readiness today gives me the peace of mind I absolutely must have to know that I am TRID ready."

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DocMagic Adds Loan Industry Veteran Edward Komski to Help Drive Enterprise Software Sales

Posted by DocMagic on 07/01/2015

TORRANCE, Calif., June 30, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, is pleased to announce the hiring of Mr. Edward Komski who will assume the role of national sales manager. In this capacity, he will be responsible for introducing DocMagic's entire suite of software solutions to large, enterprise-level lending organizations. 

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DocMagic Officially Kicks Off Client Testing of its SmartCLOSE Collaborative Closing Portal for TRID Compliance

Posted by DocMagic on 06/24/2015

Press Release:

Phased testing approach with select clients enables DocMagic to perfect new solution

TORRANCE, Calif., June 24, 2015 - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that a group of clients have begun to test the features and functionality available within its new Collaborative Closing Portal, SmartCLOSE™. 

The portal was made available to nearly 250 lenders last week to start working with the system and provide comments. The complete product will be rolled out in two planned phases as features are continuously added and the solution is enhanced.

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DocMagic Will Be Fully TRID Compliant by Aug.1, Regardless of When the New Rule Actually Takes Effect

Posted by DocMagic on 06/19/2015

Press Release

Oct. 1 due date is only a “proposed delay” by the CFPB; it could still come sooner and DocMagic will be ready

TORRANCE, Calif., June 19, 2015 — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that the CFPB’s proposed delay will have no bearing on its plans to be ready to meet the CFPB’s originally planned Aug. 1 due date to implement the TILA-RESPA Integrated Disclosure (TRID) rule.

“The CFPB only stated that they will be issuing a ‘proposed amendment’ to delay the rule to Oct. 1, which means it could possibly finalize a shorter time period,” commented Rich Horn, TRID legal advisor to DocMagic and former senior counsel and special advisor at the CFPB. Mr. Horn led the 1,888 page final TRID rule and the design and consumer testing of the new mortgage disclosures. “Lenders would be wise to keep their foot on the gas and proceed with their TRID implementation work, and DocMagic gets that,” said Horn.

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Major eSigning Milestone Achieved: DocMagic Surpasses 100 Million eSignature Transactions for the Mortgage Industry

Posted by DocMagic on 05/12/2015

Press Release:
Unrivaled industry eSigning adoption among mortgage clients fuels transaction spike

TORRANCE, Calif., May 11, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that its eSign platforms have now processed more than 100 million mortgage-related eSignature transactions. 

"We are very pleased with the sheer number of eSignatures that we are seeing executed among our client base," said Dominic Iannitti, president and CEO of DocMagic. "This is positive news for the mortgage industry as a whole. In previous years, eSign adoption was much lower among lenders working with borrowers. We have always encouraged clients to take advantage of our eSigning technology; this impressive number of transactions certainly reflects that."

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DocMagic Releases New TRID Functionality to its Entire Client Base and All LOS Vendors

Posted by DocMagic on 05/11/2015

Press Release:
Completed software updates now accessible online for users to become familiar with the new changes.

TORRANCE, Calif., May 7, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that it has completed all required TILA-RESPA Integrated Disclosure rule (TRID) software development and testing, and the new TRID enhancements have been officially released into DocMagic's production environment.

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DocMagic to Launch Collaborative Closing Platform to Meet TRID Requirements

Posted by DocMagic on 04/24/2015

Press Release:
New solution brings lenders and settlement providers together inside a secure collaborative portal to view and exchange fee data prior to closing

TORRANCE, Calif., April 23, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that it will launch a Collaborative Closing Platform for the mortgage industry. The solution is comprised of a secure, seamless and dynamic web-based portal that efficiently and expeditiously helps lenders comply with the TILA-RESPA Integrated Disclosure (TRID) rule that becomes effective on August 1.

DocMagic's Collaborative Closing Platform enables streamlined, real-time exchange of information between lenders, settlement agents and their associates via a secure web portal designed to electronically access, edit, validate and approve both data and documents. As a result, the coordination of all closing costs and audits of critical disclosure details are addressed prior to closing and in full compliance with TRID.

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Tim Anderson of DocMagic to Moderate Panel Session at MBA Tech on Electronic Processes

Posted by DocMagic on 03/24/2015

TORRANCE, Calif., March 20, 2015—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that its director of eServices, Tim Anderson, will be moderating a key panel session at the annual Mortgage Bankers Technology Conference on the topic of what automated Electronic Processes look like. The panel will be held on March 30, 2015 from 3:00 p.m. – 4:15 p.m.

This panel is comprised of leading industry experts who will provide their perspective and expert advice on eDisclosures and eClosings, among other eServices topics. The session is designed to help industry participants gain a better understanding of these trends and impacts. There are many questions around “e-everything,” says the MBA. Attendees of the session will leave with a solid grasp on how to electronically and compliantly connect with consumers and trading partners.

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DocMagic Named to HousingWire Magazine's Annual HW TECH100 List

Posted by DocMagic on 03/17/2015

Press Release:
TORRANCE, Calif., March 17, 2015 (SEND2PRESS NEWSWIRE) --DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that HousingWire magazine designated the company to its 2015 HW TECH100(TM) list. The list honors the 100 most innovative technology companies serving the U.S. mortgage finance and real estate industries.

HousingWire states that more than 250 companies were evaluated by HousingWire editors for the 2015 program, which looks at technology innovation along six different categories: uniqueness of solution, growth, market influence, market potential, elegance of implementation, and "something else entirely" -- a catch-all for disruption and other factors that drive innovation.

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