TORRANCE, Calif., Jan. 24, 2018 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has processed more than 300 million mortgage-related electronic signatures.<\/p>\n
![\"DocMagic\"](\"https:\/\/www.send2press.com\/wire\/images\/17-1205-docmagic-696x522.jpg\" "\\"DocMagic\\"")
\nThis milestone achievement is the direct result of increased adoption of several DocMagic technologies that feature its comprehensive eSigning platform, which can be accessed as a software-as-a-service (SaaS) or on-premise enterprise platform. Each of DocMagic\u2019s digital platforms reports a significant increase in volume, which the company attributes to lenders\u2019 growing need to prove a TRID-compliant, 100 percent paperless mortgage process.<\/p>\n
\u201cBorrower demand is driving the increase in eSignings, and lenders are choosing DocMagic to get a consistent, compliant eSigning solution that spans the original LE [Loan Estimate] to the final CD [Closing Disclosure],\u201d said Dominic Iannitti, president and CEO of DocMagic. \u201cLenders know DocMagic is the go-to choice for compliance. We reached 300 million eSignatures because we have solved lenders\u2019 number one burden for the past two years\u2014electronic evidence of TRID compliance\u2014while enabling them to stay competitive and enhance the overall borrower experience.\u201d<\/p>\n
DocMagic reports significant volume increases for SmartCLOSE™ and Total eClose™, two award-winning technologies that enable lenders to comply with TRID and UCD (Uniform Closing Dataset) guidelines. SmartCLOSE is a collaborative closing portal offering one system of record that assures accuracy, completeness, consistency and compliance of the data before final documents are drawn and the borrower electronically executes the documents using DocMagic\u2019s integrated eSign technology. Total eClose, a complete paperless, digital closing solution with integrated eSignature and eNotarization capability, provides continuous compliance checks to assure all documents are complete, current, consistent and compliant.<\/p>\n
\u201cA lot of existing DocMagic customers adopted our eSign technology because it\u2019s so much easier to access and use than other platforms,\u201d said Iannitti. \u201cWe were already integrated with the vast majority of LOS systems, so providing eSigning functionality was a logical extension of our service. We also added new integrations, which brought onboard new eSigning customers. Having an eSign technology that can draw new customers while expanding use among existing customers shows the ubiquitous need for the functionality DocMagic\u2019s technology provides.\u201d<\/p>\n
DocMagic provides the most commonly used eSignature technology in the mortgage and financial services space and is the leading provider of eClosing technology for the majority of state-sponsored eClosing pilot programs to support 100 percent paperless digital mortgage transactions.<\/p>\n
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign, eDelivery and comprehensive eMortgage services for the mortgage 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.<\/p>\n