TORRANCE, Calif., April 5, 2017 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, reported a 42 percent increase in revenue for 2016. The company credits its growth to the mortgage industry\u2019s demand for products that enable TRID compliance, eSignatures and eClosings. This is the second consecutive year that DocMagic\u2019s revenue has increased by roughly 40 percent.<\/p>\n
![\"DocMagic,](\"https:\/\/www.send2press.com\/wire\/images\/s2p-docmagic-600x450.jpg\")
\n\u201cLenders have been looking for ways to assure TRID compliance since 2015, and DocMagic\u2019s SmartCLOSE™ technology has become the industry\u2019s go-to solution,\u201d said Dominic Iannitti, president and CEO of DocMagic. \u201cOur user base has grown quickly. A lot of existing DocMagic clients saw the value of SmartCLOSE™ immediately. It has also been an entry point for many of our new lender clients.\u201d<\/p>\n
SmartCLOSE™ enables lenders to interface with settlement providers and other relevant parties in a secure portal to share, edit, validate, audit, track and collaborate on documents, data and fees. In the past two years, DocMagic has completed numerous key integrations between lenders using SmartCLOSE™, their loan origination systems, and new settlement service provider systems. More integrations are being developed for 2017.<\/p>\n
\u201cThe number of eSignatures completed has increased significantly since launching SmartCLOSE™<\/a> and Total eClose™<\/a>,\u201d said Iannitti, referencing activity for eSignSystems, a division of DocMagic that provides digital transaction management and electronic storage systems. \u201cLenders appreciate that they can stay compliant while gaining the speed and convenience of a digital process.\u201d<\/p>\n DocMagic anticipates its growth will continue in 2017. In February of this year, the company completed a successful pilot that enabled one of the country\u2019s largest warehouse lenders to accept and fund eNotes, a transition that Iannitti expects to become a major industry trend in the next 12 to 18 months.<\/p>\n \u201cIt\u2019s very simple \u2014 at DocMagic, we\u2019re dedicated to addressing the industry\u2019s needs and demands with the very best solutions on the market,\u201d said Iannitti. \u201cThat\u2019s been the foundation of our business since we started, and we\u2019re pleased to say that it remains the formula for our growth today.\u201d<\/p>\n DocMagic\u2019s growth plans include ongoing calibration of its infrastructure. To maintain its standard for high quality and service, the company added staff in nearly all functional areas, including senior software developers, project managers, implementation specialists, technical support representatives, integration staff and business development professionals.<\/p>\n About DocMagic:<\/strong> MEDIA CONTACT: TORRANCE, Calif., April 5, 2017 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, reported a 42 percent increase in revenue for 2016. The company credits its growth to the mortgage industry’s demand for products that enable TRID compliance, eSignatures and eClosings. This is the second consecutive year that DocMagic’s revenue has increased by roughly 40 percent.<\/p>\n","protected":false},"author":4419,"featured_media":3974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,1,10,38,199,599,5,12],"tags":[10202,7695],"class_list":["post-23987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-business-news","category-california-news","category-finance-news","category-new-location-news","category-cloud-saas-news","category-technology-news","category-torrance-news","tag-profundity-pr","tag-trid-compliance","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":7307,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/23987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/4419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=23987"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/23987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/3974"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=23987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=23987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=23987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nDocMagic, Inc. is the leading provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services for the mortgage banking industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company\u2019s compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.<\/p>\n
\nJoe Bowerbank
\nProfundity Communications, Inc.
\n949-378-9685
\njbowerbank@profunditymarketing.com<\/p>\n","protected":false},"excerpt":{"rendered":"