TORRANCE, Calif., May 16, 2019—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that the company will participate in Red Nose Day for the second year, transpiring on Thursday, May 23. Now in its sixth year, Red Nose Day is a collective effort focused on ending child poverty both in the U.S. and some of the poorest areas throughout the world.

“Being a part of Red Nose Day helps an incredibly good cause and we are happy to join together to support the event,” said Dominic Iannitti, president and CEO of DocMagic. “Our employees enjoy celebrating the day, giving back in the process, and most importantly assisting children in need.”

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Since the launch of Red Nose Day in 2015 as a registered U.S. public charity operated by non-profit organization Comic Relief Inc., the fundraising campaign has collectively raised nearly $150 million. Funds are evenly split to support both domestic and international programs to create awareness, keep children safe, healthy and educated.

NBC will host Red Nose Day on Thursday, May 23 beginning at 8 p.m. EDT. The two-hour event features Kelly Clarkson, Blake Shelton, Kate McKinnon and other TBA celebrity appearances.

This year, DocMagic plans to incorporate a new twist into Red Nose Day, introducing a variety of fun red props. A brief video of DocMagic employees partaking in Red Nose Day last year can be viewed here:  https://youtu.be/D9epRV9vk2Y. 

 

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions 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’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 www.docmagic.com.

 

About Red Nose Day:

Red Nose Day is a fundraising campaign run by the non-profit organization Comic Relief Inc., a registered U.S. 501(c)(3) public charity. Red Nose Day started in the U.K., built on the foundation that

the power of entertainment can drive positive change, and has raised over $1 billion globally since the campaign’s founding in 1988. Red Nose Day launched in the U.S. in 2015 with a mission to raise money and awareness to end child poverty, and has raised over $95 million to date for the cause.

 

Money raised goes to the Red Nose Day Fund, which supports programs that keep children in need safe, healthy and educated, both in America and abroad. Beneficiaries include the Boys & Girls Clubs of America; charity: water; Children's Health Fund; Covenant House; Feeding America; Gavi, the Vaccine Alliance; Laureus Sport for Good; National Council of La Raza; Oxfam America; Rotary/End Polio Now; Save the Children; and The Global Fund. Since launching in the U.S., Red Nose Day has received generous support from millions of Americans, hundreds of celebrities and many outstanding partners, including Walgreens, NBC, Mars, and the Bill & Melinda Gates Foundation.  For more information, visit the Red Nose Day website at www.rednoseday.org.  Follow@RedNoseDayUSA on Twitter and Instagram, and on Facebook at Facebook.com/RedNoseDayUSA.

About Red Nose Day: 
Red Nose Day is a fundraising campaign run by the non-profit organization Comic Relief Inc., a registered U.S. 501(c)(3) public charity. Red Nose Day started in the U.K., built on the foundation that the power of entertainment can drive positive change, and has raised over $1 billion globally since the campaign’s founding in 1988. Red Nose Day launched in the U.S. in 2015 with a mission to raise money and awareness to end child poverty, and has raised over $95 million to date for the cause. Money raised goes to the Red Nose Day Fund, which supports programs that keep children in need safe, healthy and educated, both in America and abroad.

Beneficiaries include the Boys & Girls Clubs of America; charity: water; Children’s Health Fund; Covenant House; Feeding America; Gavi, the Vaccine Alliance; Laureus Sport for Good; National Council of La Raza; Oxfam America; Rotary/End Polio Now; Save the Children; and The Global Fund. Since launching in the U.S., Red Nose Day has received generous support from millions of Americans, hundreds of celebrities and many outstanding partners, including Walgreens, NBC, Mars, and the Bill & Melinda Gates Foundation. For more information, visit the Red Nose Day website at www.rednoseday.org. Follow @RedNoseDayUSA on Twitter and Instagram, and on Facebook at https://www.facebook.com/RedNoseDayUSA.

Understanding the New URLA

The new URLA is bringing us into the 21st century. Along with improving accuracy and the clarity of information being provided by the borrower, the coming changes will make the process more efficient for lenders. As with all changes, there is a learning curve. The key to preparing for a smooth transition is understanding the changes, identifying where they will be on the new forms and beginning testing to eliminate workflow interruptions.

The New Forms and How They Work Together

The Borrower Information Document is the main application form and the first form you will notice with formatting changes. The new layout now has a similar format to the LE and the CD which will make adoption much quicker. This form contains most of the information collected on the current 1003. Generally, one of these forms will be completed per borrower instead of seeing borrower and co-borrower on one application. It is important to note however, that you will see a combination of assets and liabilities for joint borrowers. 

 

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Changes in Section 1

The first change to note is at the top of page 1.  The paragraph referencing joint borrowers has been replaced by a space for the Lender Loan No. / Universal Loan Identifier.  Starting in Section 1, where you would normally see borrower and co-borrower side-by-side, the form will now collect individual data starting with personal information. This is also where the borrower will indicate if they are applying for individual or joint credit.

The next change in this top section is the addition of fields for an email address and cell phone. 

There are two new sections within the personal information section of the Borrower Information Document. 

1. Military Service - This section collects information about Military veterans that can be used by the Veteran's Administration
2. Language Preference - This new section allows the borrower to indicate their preferred language. This informational question does not commit the lender to conduct the loan in the selected language. 

The new Employment and Income section has been improved by including those fields side by side for a more streamlined workflow. This new form supports the collection of loan application details that make it easier for underwriters to verify the income by source. For example: Employment entries include the income received at each employer and calls out other sources of income separately.  Section 1e, Income from Other Sources, is the first part of the form that asks the borrower to select from a provided list

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Section 2

Assets And Liabilities

This is where  information from the borrower with regard to their assets and liabilities will be collected.  In sections 2a and 2b, there are fields for collecting bank accounts, retirement, and other accounts.  Similar to the last section, users will now be selecting from the categories that are provided.  For other assets, for example, you would put earnest money, sweat equity or other additional assets that the borrower owns.  Also note that this section includes a does not apply checkbox, and if that were true, this would be selected, and the section would collapse in the dynamic version of the form.

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Section 3

Real Estate

In the new Real Estate section the table now includes the existing mortgages associated with each property instead of listing them in a separate Liability Section. Here the borrower will list the real estate that is owned by the property address, including certain detail about the property, such as the property value, whether or not they are going to sell it in this transaction, and whether or not there's any rental income from that property.  Immediately below that, will be a field to list any mortgages that exist on the property. This section, as with other sections in the dynamic version, will repeat as necessary until all real estate is listed.

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 Section 4

Loan & Property Information

This is the first place on the form that you will see any actual loan information being entered.

In addition to the three choices in the occupancy field there is now a fourth option added for FHA Secondary Residence.  Underneath occupancy are two new questions referencing mixed-use property and manufactured home.

There are three new sections as part of the Loan and Property Information.

1. 4b allows the borrower to list any other new mortgage loans being taken on the property being bought or refinanced.  If there are no additional loans, the borrower will check the “Does not apply” box and the section will collapse.  If there are additional loans, the borrower will add the creditor name, lien type and position, and amount.
   
   
2. 4c is for rental income on purchase loans. The top line allows the borrower to provide expected gross monthly rental income for purchase loans. The lender then calculates the expected net monthly rent income amount. This section applies when the subject property is a 2-4-unit primary residence or investment property.  
   
   

3. 4d is where the borrower will report any gifts or grants that they will receive to help cover the cost of the loan by selecting from the provided list. The borrower would report the asset type, if the amount has been deposited, the source, using that list above, and then the value. This section will also be dynamic and expand or collapse as needed.

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Unmarried Addendum

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Important Deadlines for URLA

Beginning July 1, 2019, both Fannie Mae and Freddie Mac will allow the use of the redesigned Uniform Residential Loan Application ("URLA") published jointly by the Government-Sponsored Enterprises ("GSEs").  DocMagic systems will be updated to accommodate these new forms for loans with application dates of July 1, 2019 or later.

How do I learn more?

The new URLA form introduces many changes in the way borrower information is captured and displayed, including bolstering certain areas of the application such as income verification, military service, assets and liabilities, homeowner counseling, and more in depth property information. For a complete overview of the new functionality we have prepared the following resource page and strongly encourage our DocMagic customers to become familiar with the new content and system changes. DocMagic URLA Resource Page

Source: Housing Wire—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, has been named as an early winner of this year's HousingWire Tech100 Award. Check out the early list below!

These 10 winners hold some of the most innovative and impactful technology in the housing industry. From innovative startups to technology giants – this year’s winners continue to push the edge of innovation move markets forward. The future is here, and it’s because these companies continue to push the limits of possible.

Here are 10 companies that won this year’s HousingWire Tech100 award, and keep an eye out on April 1 for the full list and for more info on each of these companies.

 

10 Sneak Peek Winners

Arch Mortgage Insurance

With Arch MI’s RateStar Buydown tool, mortgage originators can customize each borrower’s MI premium to an exact dollar amount — creating a unique MI payment competitors can’t match.

BeSmartee

BeSmartee develops web-based lending platforms for lending institutions. The company utilizes its extensive list of vendor integrations, big data sources, AI technology and process automation to help its clients streamline origination processes for their customers and loan officers, from initial contact into underwriting in minutes using any device.

Blend

Blend is using technology to streamline the mortgage process to create a pleasant experience for both lenders and borrowers. The company, which is already has partnerships with major lenders like U.S. Bank and Wells Fargo, expanded its industry reach in 2018 with first-of-their-kind partnerships with home builder Lennar and Fannie Mae.

Baseline Reverse

Baseline’s web based solutions are helping to power the reverse mortgage industry. The company launched in 2016, and in the last few years, the reverse mortgage industry has warmly received the company.

CoreLogic

CoreLogic is a global property information, analytics and data-enabled solutions provider, which leverages more than 4.5 billion records spanning more than 50 years. This robust collection of data allows the company to proactively identify holes in the mortgage origination process and develop solutions to help fill the gaps.

DocMagic

DocMagic’s suite of technology solutions interconnect critical entities within the digital mortgage ecosystem to compliantly exchange data in real time throughout the lending process. From borrowers to originators, lenders, settlement providers, investors and servicers – DocMagic facilitates 100% paperless mortgage transactions.

LendingHome

LendingHome continues to fine tune its tech platform. Thanks to improvements made in 2018, when a borrower applies for a loan, the tech instantly pulls every home they’ve bought and sold, as well as similar homes near the property under consideration, down to the zip code.

Matic

Matic is a digital homeowner’s insurance marketplace that helps lenders and servicers integrate homeowners insurance into the mortgage process. Matic is disrupting the $95 billion homeowners insurance industry by providing insurance at the point of sale — when borrowers apply for a mortgage.

Moody’s Analytics

Moody’s Analytics grew its capabilities in 2018 when it acquired Reis, a commercial real estate data provider, for approximately $278 million in cash. Reis provides analysis and forecasts for hundreds of metropolitan markets and thousands of submarkets in areas like multifamily, affordable housing, office, retail, student housing and senior housing.

ProxyPics

ProxyPics is a photo delivering service where users can request a photo of a specific location, for other users to complete, for a small fee. Think of it as Uber for photos. The real-estate industry and lending process experience long delays because appraisers, realtors, and inspectors drive countless miles for a real-time photo of a property.

 

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Kelsey Ramírez is an Associate Editor at HousingWire. In this role she spearheads the production of HW Magazine. Ramírez is a journalism graduate of University of Texas at Arlington. She previously covered hard issues such as homelessness and domestic violence.  

NEWPORT BEACH, Calif., March, 25 2019—NotaryCam®, the leader in online notarization solutions, today announced that eMortgage pioneer Mid America Mortgage is now using the firm’s integration with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, to conduct remote online notarizations (RONs) through DocMagic’s Total eClose™ platform. Mid America will leverage the integration throughout its retail, correspondent and wholesale channels.

“Since 2016, Mid America’s strategy has been ‘digital first.’ As a result, we have been able to condense our application-to-closing time down to just two weeks and our closing ceremony to 30 minutes or less with our digital mortgage product Click n’ Close,” said Mid America Owner and CEO Jeff Bode. “RON allows us to double down on our closing efficiency while also providing additional convenience to our customers. The addition of NotaryCam’s remote notary services through our established eClosing partner DocMagic enables us to extend the value we’ve experienced to date through our digital mortgage strategy.”

To date, NotaryCam has conducted more than 160,000 RON transactions for individuals located in all 50 states and 90 countries. Thanks to RON bills that have been passed by multiple states, Texas included, NotaryCam’s team of highly trained and experienced notaries are able to remotely eNotarize mortgage loan documents or other paperwork for individuals across the country using NotaryCam’s secure, easy-to-use platform. The system does not restrict the number of participants that can join a RON ceremony, allowing all relevant parties to participate in the transaction.

“Until recently, mortgage closings still required participants to physically congregate in a single location to complete the transaction. Today, RON enables lenders and settlement agents to eliminate the closing table without losing the personal connection of the closing ceremony,” said NotaryCam Founder and CEO Rick Triola. “The value of the convenience that RON provides cannot be overstated, and it would behoove mortgage and settlement professionals to incorporate RON into their existing closing process.”

Total eClose is DocMagic’s comprehensive end-to-end eClosing solution. The integration with NotaryCam, which was first announced in September 2018, allows Mid America Mortgage and Click n’ Close to eNotarize documents remotely using NotaryCam’s RON service, eliminating the need for home buyers and sellers to physically appear before a notary to wet-sign loan documents.

“We continue to focus on implementing seamless digital closing solutions for our customers,” stated Dominic Iannitti, president and CEO of DocMagic. “Mid America’s accelerated processes highlight the benefits DocMagic delivers for both lenders and borrowers. The added efficiency of NotaryCam’s RON solution is the logical next step and a key component to achieving 100% paperless eClosing transactions.”

 

Free Webinar! Your guide to new forms, updates, and deadlines

Join this FREE webinar designed to help you understand the revised Uniform Residential Loan Application (“URLA”) or 1003 form. DocMagic's Chief Compliance Officer, Gavin T. Ales will explain the new forms, compliance updates and the deadlines you need to be aware of. 

Understanding URLA — The New Loan Application

Date: Thursday, April 11th, 2019Time: 10:00 - 11:00 AM (PDT)

Register for our free webinar here!

Webinar topics include: 

• Key implementation dates & deadlines
• An in-depth look at important changes to the New URLA forms
• Examining additions to the Borrower Information Document 
• Changes to the Loan Application process
• The Unmarried Addendum
• Updates to currents systems and where to see them 

Get your questions answered as we walk through the URLA requirements in detail.

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Gavin T. Ales is DocMagic’s Chief Compliance Officer. He 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 and the District of Columbia, monitoring legal and regulatory changes, and developing and maintaining DocMagic’s automated compliance tests and audits.

Gavin specializes in mortgage banking compliance; federal and state regulatory compliance; financial services law; real estate law; and consumer credit law, among other disciplines.

Gavin holds a J.D. from American University’s Washington College of Law, and a BBA with a concentration in Economics as well as a BA in International Studies, both from the University of Mississippi. He is licensed to practice law in California and Maryland.

Register Now

TORRANCE, Calif., Feb. 14, 2019—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that MReport magazine has named company president and CEO Dominic Iannitti one of its Top 25 Industry Leaders & Influencers for 2019.

The Top 25 Industry Leader & Influencer list recognizes men and women who are making a positive mark on their teams, peers and those they interface with in the mortgage industry. It highlights the achievements of those who guide by example and think outside the box in ways that are shaping the industry’s path forward, while maintaining a personal touch that makes team members feel supported, inspired and recognized.

“Leading by example and providing an inspirational workplace are top priorities for me, so being named to this list is a great honor,” remarked Iannitti. “DocMagic is synonymous with innovation, which is one reason we are the first choice for organizations that want the top advancements in the digital mortgage ecosystem. We have great people who are dedicated to making technology advances and supporting our clients, and it’s my honor to support them in their quest for excellence in those pursuits.”

Iannitti is known among his teams for inspiring creative freedom and out-of-the-box thinking. He helped design DocMagic’s Torrance, Calif.-based headquarters to achieve a comfortable, relaxed open workplace that has proven to foster the employee collaboration and consistent technology innovation the company is known for.

MReport Editor-in-Chief Rachel Williams, stated, “I would like to congratulate those individuals who made the ‘Top 25 Industry Leaders & Influencers’ list this year, as well as the leaders who were nominated to this list having earned the loyalty of their team and peers through their subject matter expertise, charisma, or even the way they have gone above and beyond to help their team or company that makes them stand out from the crowd.”

Coordinated by Art To Grow On Children's Art Center Inc. and sponsored by DocMagic Inc., the unique art boxes were prepared and delivered to patients with assistance from Girl Scout and Brownie Troops, community patrons, families, grandparents, students, and local community volunteers

Torrance, Calif. Dec. 21, 2018—DocMagic, Inc.a comprehensive eMortgage software solutions provider, announced that it has purchased 100 custom designed Art Boxes to Art To Grow On Children’s Art Center Inc., which delivered the Art Boxes to patients being treated at the Children’s Hospital Los Angeles (CHLA) a non-profit, pediatric academic medical center that provides patient care, education, and leading-edge research to help children in need.

Each Art Box contains a master artist lesson inspired by architect Frank Lloyd Wright, a holiday frame, a journal, a sketchbook, colorful markers, wooden cars, hearts or animals for coloring and decorating, and foam snowflakes or snowman with holiday stickers.

“We are grateful to DocMagic for realizing the immense value that our Art Boxes provide children who are being cared for at Children’s Hospital Los Angeles,” said Lauren Dennis-Perelmuter, founder and president at Art To Grow On Children’s Art Center, Inc.

Founder and President Lauren Dennis-Perelmuter [left] and Volunteer Director [right] for Art To Grow On’s Holiday Art Box Campaign.

She added, “These Art Boxes accomplish something that other gifts such as one-time use toys and electronic devices are unable to do. They give children a respite from the daily realities of staying in a hospital, inspiring and allowing their imagination to soar, their critical thinking skills to be exercised and refined, and their self-esteem and self-confidence to be elevated. These essential life skills are critical not only in the healing process, but brings joy and relief to them directly during their stay at the hospital.”

Notable is that the Children’s Art Center worked tirelessly for more than a year prior to creating and packaging the Art Boxes, going through an extensive vetting process to ensure that they were non-toxic and environmentally safe for patients residing in a medicinal setting. The Girl Scouts and other community volunteers joined forces to assemble to boxes, which was a very hands-on and involved group effort. Video here.

Perelmuter says that the Art Boxes become a one-of-a-kind, very rewarding memory not only for the children, but for their families trying to bring a sense of normalcy to their lives while in a hospital. She adds that the right kind of exposure to art not only gives children opportunities to invent, create, innovate and discover, but also allows them to become optimal, independent thinkers and problem solvers who possess strengthened imaginations.

“We are honored to participate and happy to help with this noble and highly creative cause that Art To Grow On Children’s Art Center is providing kids at Children’s Hospital Los Angeles,” stated Dominic Iannitti, president and CEO of DocMagic. “DocMagic is proud to be a part of having a very unique and positive impact on the lives of these children, opening up a new world of creativity and imagination that they themselves construct.”

Dominic Iannitti, CEO of DocMagic, and his son Dominic Jr., helping with the Art Box project.

DocMagic is an award-winning Southern California-based software firm that automates key parts of the mortgage lending process, ensuring compliance, increasing efficiencies, making what can a confusing and complex undertaking for borrowers much easier, while at the same time removing enormous amounts of paper that lenders and borrowers traditionally deal with. The company is known for its charity work and philanthropy efforts both locally and nationally.

Perelmuter says that the art boxes will be delivered through January 1 for the holiday season but they can also be purchased anytime throughout the year. They are ideal for a myriad of different occasions. Anyone can order the boxes from individuals, to families, schools, Girls Scouts, Boys Scouts, organizations, companies, and other entities.

Lender achieves full eClosing benefits, faster and more reliably, as the result of DocMagic’s consultative implementation process, single-source platform, and intuitive UI

Torrance, Calif. and Salt Lake City, Dec, Dec. 19, 2018—Annual CUNA Lending Council Conference - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and QRL Financial Services (QRL), and SecurityNational Mortgage Corporation (SNMC), an independent national mortgage banker, jointly announced that they successfully rolled out DocMagic’s comprehensive Total eClose™ platform.

Since rolling out Total eClose in September, SNMC has reduced borrower time at the closing table to as little as 15 minutes, and become one of the first national lenders to offer a true eClosing solution that involves no paper whatsoever. It has dramatically sped up the closing process, ensuring accuracy and loan quality, and delivering newfound efficiencies for borrowers, notaries and settlement providers. Total eClose enables SNMC’s customers to preview documents prior to closing, eSign all documents, and complete both remote and in-person eNotarizations. As a result, SNMC is now positioned to capture more market share, reduce operational costs, expedite closing times and elevate the borrower experience.

“Our goal was to perfect a completely digital eClosing process, not to be just another lender offering a basic hybrid closing,” said Steve Johnson, president of SNMC. “Achieving our goal required a powerful end-to-end technology, a perfectly executed seamless implementation, and an intuitive interface that everyone—staff, settlement service providers and borrowers—could use immediately, without a steep learning curve. We got that and more with DocMagic. Plus, the DocMagic implementation team was with us all the way. We never had to worry about a thing.”

The two companies approached the project as partners to ensure swift adoption and a quick understanding of the new workflow-driven eClosing process for both SNMC’s staff and customers. DocMagic worked hand-in-hand with the lender, leveraging its vast eMortgage expertise to help sculpt a unique strategy and a successful go-to-market launch. Unlike other document and eClosing solution providers, DocMagic takes an ultra hands-on approach to implementations, from developing the project roadmap, to training all parties—such as staff, title agents and notaries—to synchronized testing of each facet of the Total eClose platform.

“Our implementation teams function like expert consultants—we work very closely with each client, guiding them literally every step of the way,” said Dominic Iannitti, president and CEO of DocMagic. “There is a huge number of moving pieces in an eClosing solution. As a single source solution, we have intricate knowledge of every one of them, so there are none of the issues that plague other providers—not only immediately after the implementation, but over the long haul as well. In contrast, lenders who choose incomplete or cobbled-together eClosing technologies may have to hit the restart button within 12 to 18 months and search for a comprehensive solution.”

DocMagic is a recognized eClosing pioneer, and has been a part of virtually every state-first eClosing in the U.S.

“We’re pleased to work with companies like SecurityNational Mortgage that truly understand the value of implementing a 100 percent paperless eClosing process,” said Iannitti. “They have taken a leadership position in facilitating eClosings and are ready for an inflow of new business that will be conducted very efficiently.”

DocMagic’s comprehensive suite of eSolutions and eServices also includes SMARTDocs, eNotes capability, eVault technology, eWarehouse lending, and even loan servicing.

Gains competitive advantage, speeds funding process, results in fewer exceptions

Anaheim, Calif., Oct. 29, 2018—Annual CUNA Lending Council Conference - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that QRL Financial Services (QRL), a nationwide provider of residential mortgage lending services for community banks and credit unions, has leveraged its eVault technology to purchase eNotes. The announcement was made during the 24th Annual CUNA Lending Council Conference at the Disneyland Hotel in Anaheim, Calif.

Implementing an eVault means QRL can increase new business by extending its reach to lenders that are ready to implement eClosings and sell eNotes. In addition to providing improved service, they will competitively position themselves for the future. The deal will make QRL one of the first investors outside of the GSEs to begin purchasing eNotes.

“QRL is a farsighted organization, and by implementing eVault technology now, they stand to capitalize on marketplace opportunities as eNotes continue to gain adoption,” stated Dominic Iannitti, president and CEO of DocMagic. “We tend to partner with early adopters like QRL, who will reap the benefits of their industry insight. We look forward to the success they realize by utilizing our eVault and supporting technology.”

Because QRL is using DocMagic’s SmartDocs, all documents retain a tamper evident seal to ensure data and document integrity. Using static documents, that don’t include SmartDoc transactional (XML) metadata, means some organizations have the difficult, costly and time-consuming task of confirming that data and documents are in sync.

“Offering a truly paperless solution is the future. Consumers will expect and demand a closing experience that is more timely, convenient and informative," says Alex Rivera, managing director at QRL Financial Services. "QRL’s ability to purchase and service eNotes will allow the credit unions and community banks that we service to stay ahead of the technology curve as they compete with the larger institutions in the race to improve the mortgage experience.”

The solution will also create greater secondary market process efficiencies because of reduced cycle times. QRL will be able to fund faster with fewer post-closing document issues.

Contact Michael Chaney, michael@docmagic.com to schedule a meeting. 

Online eMortgage Education Module was developed to help attorneys, title agents and notaries successfully conduct eClosings

WASHINGTON, D.C., Oct. 15, 2018—Secure Insight, a New Jersey-based data intelligence and vendor management firm, announced today at the MBA’s Annual Convention & Expo that it teamed with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, to develop and host an online training program to teach attorneys, title agents, notaries and other entities how to accomplish clear, compliant and completely paperless eClosing transactions.

Secure Insight noted that while lenders have made good progress installing digital mortgage point-of-sale solutions, it is just the initial step to implement a true eClosing solution. DocMagic developed Total eClose™, a comprehensive solution that enables a 100 percent paperless eClosing process from start to finish using a single-source vendor.

“Getting over the adoption hump starts with ease of use and adequate training so users feel comfortable conducting business within the eMortgage ecosystem,” stated Andrew Liput, president of Secure Insight. “We partnered with DocMagic because their Total eClose solution is one of the easiest and most intuitive in the industry, which is conducive to adoption for title agents, attorneys and notaries to understand and leverage.”

Secure Insight has an extensive database of more than 70,000 closing professionals that can take advantage of this vital training program, which provides the educational foundation that paves the way for their business practices to include eMortgages and eClosings. Lenders are increasingly seeking well-qualified professionals to work with and this wide-scale training program is poised to significantly move the adoption needle.

Company officials at Secure Insight say their ultimate goal is to become the industry’s go-to resource for lenders to access settlement professionals who are well-trained in eClosings, similar to what the Nationwide Multi-state Licensing System & Registry (NMLS) provides for loan officers. Lenders can provide a list of approved title companies and Secure Insight then works to implement a common and consistent process for training on a national level.

Tim Anderson, director of eServices at DocMagic stated: “The new training program and centralized database will provide key information and knowledge for professionals about our industry-leading Total eClose technology and assist lenders in locating professionals who are qualified to leverage it for the benefit of consumers. Further, one of the primary issues it solves is that in a purchase market, lenders really don’t choose the settlement professionals and typically don’t have direct relationships with them either nor the dedicated resources to continually train them to effectively support full eClosings. The online training eMortgage Education Module helps alleviate this impediment.”

The online training is officially set to launch on November 15, 2018 and will be available through a link on Secure Insight’s website. To learn more, contact Secure Insight at info@secureinsight.com or (877) 758-7878.  The company will also be holding discussions at the MBA’s Annual Convention & Expo from Oct. 14 – 17 at the Walter E. Washington Convention Center in Washington, D.C.