Aug, 25
2022
Awards and Honors, Business, Free News Articles

DocMagic Earns a Second Consecutive Spot on the Inc. 5000 List of Fastest-Growing Private Companies

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of fully-compliant loan document generation, regulatory compliance, and comprehensive eMortgage services, announced that it again made Inc. 5000's list of fastest-growing private companies for 2022.

Companies on this year's Inc. 5000 list are ranked according to percentage of revenue growth from 2018 to 2021. DocMagic's growth rate for this three-year period was 100 percent, earning the company the rank of 4,434 in the financial services category.

"We are honored to have achieved a growth rate that places us on Inc.'s prestigious list of rapidly growing U.S. companies for a second time," said Dominic Iannitti, president and CEO of DocMagic. "The mortgage banking industry continues to be a highly competitive environment. Making this list in back-to-back years tells us that our digital solutions are putting our growing list of lender-clients in the most efficient, compliant and cost-effective positions possible."

DocMagic's award-winning Total eClose(tm) platform, document generation, automated compliance and targeted digital lending solutions are credited with helping lenders successfully operate in an unprecedentedly high-volume lending landscape.

Inc. magazine stated that the companies on the 2022 Inc. 5000 list have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Notable is that the total revenue among the 5000 companies on the 2022 list was $317.5 billion with 1,178,549 jobs added. Only 945 companies on this year's list were repeat honorees like DocMagic.

"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today."

Complete results of the 2022 Inc. 5000 winners, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

About DocMagic

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

About Inc.

The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 22
2022
Awards and Honors, Business, Free News Articles

NMP Selects DocMagic Chief eServices Executive Brian D. Pannell for 2022 Most Connected Mortgage Professionals Award

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of fully-compliant loan document generation, regulatory compliance, and comprehensive eMortgage services, announced that Brian D. Pannell, the company's chief eServices executive, has been recognized by National Mortgage Professional (NMP) magazine as one of the most connected mortgage professionals within the industry for 2022.

NMP states that people named to the annual list are successful, well-connected, and powerful networkers and influencers who are completely dedicated to the mortgage industry. The award assesses the degree of connectivity winners have within the mortgage industry. Specifically, nominees are evaluated based on the extent to which they have leveraged social media platforms to successfully collaborate with industry colleagues, share ideas, promote positive news and events, and evangelize for the good of the industry.

"I am honored that the judges at NMP have selected me for this award," stated Pannell. "Being recognized as 'connected' is a reflection of how industry peers perceive the value of our insights and the contributions we make in our respective areas to consistently serve as trusted sources of guidance, information and leadership. At DocMagic, our clients rely on our deep subject-matter expertise and I'm proud to be able to share my experience and insights to help advance the lending process."

Amid an ever-evolving mortgage market and technology landscape, NMP's Most Connected winners stand out from their peers as thought leaders and influencers providing analysis, assessment and guidance to help mortgage industry participants better understand how to adapt and change to successfully compete in today's market.

Pannell was applauded by his peers and NMP's judges as a subject matter expert and leader on eSignings, eNotarizations, eClosings, eNotes, eVaults, eWarehouses, and more. He has helped countless lenders, banks, servicers, technology providers, GSEs and others understand the immense value of going "e." He is passionate about sharing the benefits of eMortgage adoption through his industry contacts, affiliations with industry associations and conferences, the mortgage industry media, and through the personal connectivity that social media provides.

The complete list of 2022 Most Connected award winners can be found in the July edition of NMP's digital magazine. https://nationalmortgageprofessional.com/magazine/nmp-magazine/40-year-old-virgin-mortgage/digital-edition

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 14
2022
Awards and Honors, Business, Free News Articles

Mortgage Banker Magazine Honors DocMagic’s Dominic Iannitti with Inaugural Legends of Lending Award

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of fully-compliant loan document generation, regulatory compliance, and comprehensive eMortgage services, announced that its president and CEO, Dominic Iannitti, has been selected by Mortgage Banker magazine as a 2022 Legends of Lending award recipient.

The Legends of Lending award evaluates the most talented, ambitious and legendary individuals in the mortgage industry. The inaugural class is comprised of executives who have made an extraordinary impact on the mortgage industry over the course of their careers and highlights each winner on a personal level.

Mortgage Banker magazine stated that all nominations were reviewed carefully by a panel of judges, arriving at an elite list of 29 winners for the first-time accolade. Nominees were evaluated based on the significant contributions they have made to the mortgage industry along with their accomplishments and leadership characteristics that define them as legends.

"I am truly honored to win an award that acknowledges the achievements of industry leaders throughout their careers, and I thank the judges at Mortgage Banker magazine for the time they took to review the many nominations received," stated Iannitti. "There is something truly special about being recognized for making a difference across an entire industry. I humbly accept this distinguished award and congratulate each of this year's winners."

Mr. Iannitti founded DocMagic in 1987 and has since grown the company into one of the industry's most dominant fintech providers. Under Iannitti's leadership, the award-winning software firm has developed high-impact digital mortgage solutions that lead the industry in innovation and early adoption. He is committed to digitizing critical areas of the mortgage process, and has created many of the solutions required to facilitate an end-to-end paperless eMortgage.

DocMagic's ongoing success is, in part, attributed to Dominic's long-term vision, passion for innovation, and nimble leadership style. He has helped tackle some of the industry's most pressing problems, bringing all of the necessary members of the supply chain together to collaborate on issues and arrive at solutions.

Iannitti has earned over 100 awards and accolades over the course of his mortgage career. He is a well-known figure in the industry and has a reputation for his unwavering dedication and energy to always move the industry forward through creativity and digitization.

The complete list of Mortgage Banker magazine's inaugural Legends of Lending class can be found by accessing the digital edition, which includes a one-on-one Q&A interview with each winner: https://nationalmortgageprofessional.com/magazine/mortgage-banker-magazine/legends-lending/digital-edition

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 07
2022
Awards and Honors, Business, Free News Articles

DocMagic’s Chief Compliance Officer, Gavin T. Ales, Receives 2022 Next Gen Leader Award

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of fully-compliant loan document generation, regulatory compliance, and comprehensive eMortgage services, announced that Gavin T. Ales, its chief compliance officer, has been named a Next Gen Leader for 2022 by PROGRESS in Lending.

The Next Gen Leader award highlights rising visionaries and thought leaders that have been in the mortgage industry for 15 years or less. PROGRESS in Lending states that the winners encompass a wide range of mortgage professionals with diverse skill sets that have one commonality: helping their companies make a difference for the good of the industry. Winners of the award are creative, out-of-the-box thinkers who go beyond what's expected, are not afraid to step forward and blaze a new trail, and constantly offer bold new ideas.

Gavin is an expert in mortgage banking compliance, federal and state regulatory compliance, financial services law, real estate law, and consumer credit law, among other focuses. He has a rich background in the mortgage industry working on both the lender and vendor side of compliance. Gavin routinely collaborates with lenders, GSEs, investors, servicers, warehouse lenders, settlement provides, technology partners, and other relevant entities on industry compliance matters.

As chief compliance officer at DocMagic, Gavin oversees the company's compliance service to ensure that all of DocMagic's technology solutions are fully compliant with changing rules and regulations. He regularly spearheads large, high-impact compliance projects and has led clients as well as additional members of the mortgage supply chain through some of the most challenging compliance initiatives. Prior to DocMagic, Gavin spent seven years at Prospect Mortgage serving in multiple roles, climbing to the position of deputy chief compliance officer.

"I am honored to receive this recognition from PROGRESS in Lending, which is a reflection of not only my efforts, but also the hard work and dedication of my team to ensure that lenders utilizing DocMagic's robust solution suite are always compliant with regulatory requirements and guidelines," commented Ales. "At DocMagic, our focus on innovation and staying ahead of 'what's next,' enables our clients to proactively plan and gain peace of mind vs. merely react to the ever-evolving nature of regulatory change."

The complete list of Next Gen Leader winners for 2022 can be found on PROGRESS in Lending's website: https://mymortgagemindset.com/the-2022-nextgen-leader-award-winners-are/

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 22
2022
Awards and Honors, Business, Free News Articles

DocMagic’s Leah Sommerville Recognized with 2022 Trailblazer Award

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of fully-compliant loan document generation, regulatory compliance, and comprehensive eMortgage services, announced that Leah Sommerville, a senior account executive on its eClosing team, has been honored by PROGRESS in Lending as a 2022 Sales & Marketing Trailblazer. The award recognizes sales, marketing and public relations executives that are blazing trails in the mortgage industry.

PROGRESS in Lending states that leading salespeople are consistently adding revenue to the topline for their organizations and marketing standouts are building credibility, awareness and value that pave the way for business development efforts. The commonality between the two functions is that these executives all work tirelessly to ensure that their companies and clients are successful and in the limelight; however, they themselves don't always get recognized. Currently in its fourth year, PROGRESS in Lending's Trailblazer award seeks to applaud industry standouts in this field.

Leah Sommerville of DocMagic has become an integral part of its eClosing team. Over the years, she has played a role in helping lenders make the switch to digitizing their lending processes with the implementation of eClosing, eNotarization, eNote and eVault technology. She has been successful in helping lenders transform their business models with DocMagic's suite of digital mortgage automation solutions.

"I am truly honored to be named to this all-star list of peers in my field who are doing great things for their companies on the revenue producing and awareness creation front," stated Sommerville. "It has been an exciting time at DocMagic introducing lenders to the immense value our Total eClose(tm) platform delivers and I am excited to be recognized by the judges at PROGRESS in Lending."

During the last few years, Leah has made significant inroads with introducing DocMagic's comprehensive Total eClose(tm) platform and ancillary solutions. She works closely with direct lenders, warehouse lenders, investors, settlement providers, notaries, and other lending entities to automate the closing process ---ultimately benefiting the entire mortgage supply chain. Leah's efforts don't stop with just a sales-based focus; she also works with DocMagic's marketing team to create awareness, participating as a speaker on many webinars and discussion groups throughout the year to educate lenders on the value of digitizing the mortgage process.

The complete list of PROGRESS in Lending's class of 2022 Trailblazers is showcased on its website: https://mymortgagemindset.com/the-2022-trailblazers-award-winners-are/.

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 24
2022
Business, Free News Articles, Software

MISMO Certifies DocMagic’s Total eClose™ Platform and Proprietary RON Technology

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of compliant loan document generation, automated regulatory compliance and comprehensive eMortgage services, announced that it attained MISMO's eClosing System and remote online notarization (RON) certifications for its Total eClose™ solution.

Both certifications are part of MISMO's eMortgage Technology Certification Program created to support, advance and increase the mortgage industry's adoption of digital solutions and is specifically designed to facilitate and encourage eClosing transactions. Moreover, the RON certification confirms that the provider's platform, procedures, and policies comply with MISMO standards and the eClosing certification confirms that the platform meets MISMO-specific requirements.

MISMO standards are widely accepted and used throughout the real estate finance industry, and most major institutions, including government agencies and GSEs, which are utilizing MISMO standards to exchange data with business partners. In addition, agencies like the CFPB have made it clear that their examination and data exchange tools will rely on and conform to the MISMO standard.

DocMagic became Certified MISMO Compliant for eClosing in February of this year and is the only document generation provider with the eClosing certification. In 2021, DocMagic's proprietary RON capability was offered to its existing client base. The company's Certified RON solution seamlessly integrates with the company's industry-leading Total eClose platform, enabling lenders and their borrowers to realize a fully digital closing experience.

"We are pleased to have received these important certifications, which establish standards that improve lenders' ability to evaluate eClosing technology providers," stated Dominic Iannitti, president and CEO of DocMagic. "DocMagic has consistently championed the utilization of eClosing and RON technology in an effort to move the industry forward. These certifications help facilitate the adoption process and we fully embrace them."

DocMagic's Total eClose platform is a single-source solution that contains all components needed to execute fully paperless eClosings. The award-winning innovation was the first of its kind to be introduced to the mortgage industry in 2014 and since that time has gained widespread market adoption.

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

About MISMO:

MISMO is the standards development body for the real estate finance industry. MISMO developed a common language for exchanging information for the mortgage finance industry. Today, MISMO standards are accepted and deployed by every type of entity involved in creating mortgages, and they are required by most regulators, housing agencies and the GSEs that participate in the industry. Use of MISMO's standards has been found to lower per loan costs, improve margins, reduce errors and speed up the loan process by reducing manual, paper-based processes while creating cost savings for the consumer.. For more information, please visit https://www.mismo.org.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved.

May, 19
2022
Awards and Honors, Business, Free News Articles

PROGRESS in Lending Names DocMagic’s Director of Client Services to 2022 Most Powerful Women in Fintech List

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of fully-compliant loan document generation, regulatory compliance, and comprehensive eMortgage services, announced that its director of client services, Lori Johnson, has been recognized by PROGRESS in Lending Association as a leading female technology professional in the mortgage industry.

Now in its fourth year, the Most Powerful Women in Fintech award lauds those who play a pivotal role in leading the way and reshaping how the mortgage industry thinks.

Lori Johnson has a rich background in the mortgage industry working for technology start-ups and growth focused companies. She joined DocMagic in 2014 after helping facilitate the acquisition of Document Express by DocMagic. The entire customer base was successfully migrated over to DocMagic's dynamic document generation platform.

Today she serves as the director of client services for DocMagic. Lori has been instrumental in helping lender clients realize the benefits of digital lending automation, eClosings, eNotes, eVaults, and the importance of system-to-system interoperability as the mortgage ecosystem expands.

"Lori has and continues to serve as an invaluable asset to our customers and company," remarked, Dominic Iannitti, president and CEO of DocMagic. "Her solution-oriented approach and hands-on style to clients embody the way DocMagic does business. We commend Lori for her ongoing industry contributions and are elated that PROGRESS in Lending recognized her successes."

At DocMagic, Lori leads the company's team to onboard lenders with its Total eClose platform and supporting technologies. She collaborates with lenders and third-party vendors to optimize workflows and maximize ROI. Lori is committed to innovation and perfection, always seeking the most effective way to harness technology.

"I am honored to be acknowledged by PROGRESS in Lending on this year's list along with other women who are moving the industry and their companies forward," stated Johnson. "There are many advances being made with digital lending technologies right now. It is exciting to see so many women playing key roles in helping expand the digital mortgage ecosystem for the good of the industry."

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved.

May, 17
2022
Business, Free News Articles, Software

Black Knight Empower LOS Now Integrated with DocMagic

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of loan document generation, compliance support and comprehensive eMortgage services, announced an integration with Empower, Black Knight's loan origination system (LOS), to help automate the DocMagic document generation process for lenders and provide access to additional DocMagic services.

Lenders now have access directly from Empower to DocMagic's intelligent document generation solution, supporting compliance, data integrity and trackability. DocMagic's data-driven technology leverages its sophisticated audit engine for automated data validation testing and regulatory compliance audits to analyze relevant compliance rules, regulations and applicable laws, assisting lenders with compliance on pertinent loan documents throughout the lending process.

"We are pleased to integrate with Black Knight to facilitate digital document generation and compliance support for the mortgage industry's leading lenders," stated Dominic Iannitti, president and CEO of DocMagic. "Black Knight has done an outstanding job aligning with key market providers to support their customer base, significantly growing its LOS business. We're excited that this integration for document generation will also pave the way to provide lenders with the benefits of additional DocMagic solutions."

Black Knight's end-to-end, feature rich LOS platform supports a growing digital lending ecosystem designed to support business expansion. The cloud-based system offers advanced capabilities that automate the lending process from start to finish. Empower is configured to support a lender-specific workflow and operates in tandem with DocMagic's automated and continuous compliance checks on relevant documents at key points throughout the process.

"Empower's strategic integration with DocMagic offers tremendous benefits to Empower users by providing innovative, lights-out integration to support best-in-class document generation, while preserving the integrity of the data and tracking it throughout the loan process," said Rich Gagliano, president, Black Knight Origination Technologies. "Together, Black Knight and DocMagic can help lenders support their compliance efforts and provide borrowers with a more satisfying loan experience."

Kansas City-based Nutter Home Loans, the first mutual Black Knight and DocMagic client to go-live with the Empower integration to DocMagic, is experiencing positive results. The national lender was founded in 1951 and originates Conventional, FHA, VA, Jumbo, and USDA loans.

"Nutter is committed to making the lending process as easy as possible for our customers," stated Tera Guy, EVP of operations at Nutter Home Loans. "DocMagic's integration with Black Knight delivers multiple efficiencies for our borrowers and our support staff. Like Nutter, the team at DocMagic places paramount emphasis on delivering service excellence, and in part, this is one of the primary reasons we engaged with them. We look forward to continued optimization of our service through future capability expansions."

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

Media Contact:

Joe Bowerbank

Profundity Communications, Inc.

949-378-9685

jbowerbank@profunditymarketing.com

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved.

May, 06
2022
Business, Free News Articles, Software

Centier Bank Leverages DocMagic’s eVault Technology to Accept and Manage eNotes

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of compliant loan document generation, automated regulatory compliance and comprehensive eMortgage services, announced that Indiana-based Centier Bank is now equipped to receive eNotes from their warehouse clients through DocMagic's eVault solution. The move positions Centier to secure more business as mortgage bankers increasingly adopt eClosing technology.

Founded in 1895, Centier Bank is Indiana's largest private family-owned community bank with more than 60 branches statewide. The bank is focused on providing excellence in service to customers and offering a one-of-a-kind personal touch. Centier's mortgage warehouse division serves as a trusted warehouse lender to mortgage bankers nationwide.

Centier implemented DocMagic's eVault specifically for its mortgage warehouse lending business. DocMagic's solution enables the bank to accept and fund eNotes from customers closing loans electronically. Company spokespeople at Centier state that the business driver to implement DocMagic's technology was to facilitate ease of doing businesses with eNotes coupled with establishing a future competitive advantage.

"We strongly believe that in the next 12-18 months, eNote acceptance will gain significant industry adoption among both mortgage bankers and end investors," said Jim Taschler, vice president of mortgage warehouse at Centier Bank. "As such, we want to have the technology in place to effectively handle that method of doing business. Centier is committed to investing in technology that makes it easier to do business with us, which DocMagic's eVault makes happen. Ease of system use and simplicity of doing business is going to determine who leads the pack as the mortgage digital ecosystem grows. DocMagic is playing a pivotal role in helping transform our bank's business model."

Centier's eWarehouse lending process is now quicker, easier and clears warehouse lines expeditiously. By using DocMagic's SmartREGISTRY(tm) system to register their eNote on the MERS® eRegistry, it is securely stored within DocMagic's eVault platform. The new eWarehouse lending process reduces cycle times functioning in minutes versus days. The overall process to close, fund and sell the note is effectively fast-tracked.

"Centier has a sterling reputation in the state of Indiana with their exemplary service levels and community involvement," stated Dominic Iannitti, president and CEO of DocMagic. "Their decision to adopt an eWarehouse lending strategy is truly impressive and will ultimately reduce their origination costs and allow them to provide even better service for their clients. We are excited to work with such a forward-thinking, tech-savvy bank."

Taschler at Centier added: "Whereas it used to just be the GSEs accepting eNotes, we now see more and more aggregators also getting on board with eNotes. Everything is clearly going digital. When we see trending in the secondary market, it supports our assertion. We are excited to ramp up and digitize our mortgage business with DocMagic."

Adoption of eNotes has grown significantly over the last couple of years with an increasing number of organizations across the mortgage supply chain realizing benefits. As of April 1, 2022, the MERS® eRegistry reported over 1.6M unique registered eNotes to-date. The industry now boasts 23 different investors that can originate, fund and purchase eNotes. Further, the MERS® eRegistry currently has 30 warehouse lenders successfully funding eNotes. The list of companies now integrated with the MERS® eRegistry continues to grow and includes originators, warehouse lenders, servicing agents, subservicers, investors, Federal Home Loan Banks, ands custodians.

DocMagic's eVault is being utilized by GSEs, investors, servicers, warehouse lenders, banks and other relevant mortgage entities. The eVault is integrated into DocMagic's comprehensive eClosing process, offering lenders options from hybrid variations to fully digital eNote and RON eClosings.

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

About Centier Bank:

Centier Bank is Indiana's largest private, family-owned bank, with 62 branches statewide and over 900 employees. The bank has retail banking locations in Allen, Boone, Elkhart, Hamilton, Lake, La Porte, Marion, Marshall, Porter, St. Joseph, and Tippecanoe Counties in Indiana. The bank was recently named as the #1 Bank in Indiana by Forbes Magazine. Centier has been named as a "Best Bank to Work For" in Indiana by American Banker and has achieved Hall of Fame status as a "Best Places to Work For" by the Indiana Chamber of Commerce. Visit the company's website to learn more: https://www.centier.com/.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Mar, 09
2022
Awards and Honors, Business, Free News Articles

HousingWire Names DocMagic One of the Top 100 Most Innovative Mortgage Companies for 2022

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of compliant loan document generation, automated regulatory compliance and comprehensive eMortgage services, announced that it earned a spot on HousingWire's coveted 2022 Tech100 list for the ninth straight year.

HousingWire's Tech100 program provides housing professionals with a comprehensive list of the most innovative and impactful organizations that are being leveraged to address the challenges that mortgage lenders and real estate professionals face every day.

"We're always innovating and enhancing our solutions to maximize customer success as our digital lending ecosystem advances," said Dominic Iannitti, president and CEO at DocMagic. "Over the course of 2021, we launched several new solutions designed to improve the borrower experience and make back-office staff more efficient. We are elated that HousingWire has recognized our innovations and again listed DocMagic as a Tech100 winner."

In 2021, DocMagic unveiled eSign 3.0, a redesigned user interface that dramatically enhances the borrower experience. eSign 3.0 also offers lenders and settlement providers new features that help them more easily initiate remote online notarizations (RON) to enable fully paperless eClosings via its Total eClose(tm) platform.

2021 also saw the launch of DocMagic's eDecision(tm) tool, which instantly determines e-eligibility and provides the most beneficial level of eClosing that a lender can offer borrowers. The automatic decisioning process begins as soon as the first set of disclosures is generated and continues to perform e-eligibility checks throughout the process.

In addition, DocMagic recently introduced AutoPrep(tm), a solution that applies AI, OCR and machine learning technology to instantly e-enable third-party documents, streamlining electronic document execution within its award-winning Total eClose(tm) platform. AutoPrep has been gaining steady adoption since being launched in 2020.

"This year's list of Tech100 honorees proves once again that innovation within housing is vital in differentiating the organizations who will thrive and those who will be left behind," said Clayton Collins, CEO of HW Media. "This list spotlights the innovators that are making the housing sector better and more sustainable by increasing efficiency, improving user and borrower experiences and bringing elasticity and improvements to age-old processes."

Notable is that DocMagic was the first vendor in the mortgage industry to launch a fully paperless eClosing solution, complete with remote notary capability. Total eClose was officially introduced in 2014 and has since become award-winning technology with widespread industry adoption.

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital lending transactions. The company's 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 https://www.docmagic.com/.

About HousingWire:

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 1.0 million unique visitors each month. Our audience of mortgage, real estate and fintech professionals rely on us to Move Markets Forward. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved.

1 2 3 … 7