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. 

Mr. Komski brings with him a practical, proven knowledge of enterprise sales techniques, creative business development approaches, extensive solution crafting skills, a successful history of deal structuring and applied business strategy. In this position he will work with prospects across all regions of the country to understand their business requirements, and how DocMagic's solutions can be leveraged to benefit the prospects' daily business challenges. 

"We are very excited to work with someone of Ed's caliber," said Dominic Iannitti, president and CEO at DocMagic. "Ed's business acumen, strategic sales approaches, and ability to quickly build a rapport will be key in penetrating large market accounts." 

For more than 24 years, Mr. Komski has owned and operated ELK Group, Inc., a comprehensive business consulting firm that focuses on strategically structuring, managing, and implementing complex technical and economical business solutions for clients. He possesses an extensive background in mortgage banking working with lenders, technology firms and other large business entities

"DocMagic has developed a number of amazing solutions which have catapulted the company into becoming the mortgage industry's leading eService's provider," remarked Komski. "I've seen a lot of mortgage technologies over the course of my career, but nothing compares to what DocMagic has engineered. Additionally, the work they are doing with TRID significantly outpaces the nearest competitor's solution." 

Mr. Komski has a B.S. in Business Administration from Shenandoah University and is an active member of the Mortgage Bankers Association.

About DocMagic:
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 staff and in-house legal counsel consistently monitor legal and regulatory dynamics at both the federal and state levels to ensure regulatory accuracy.

For more information on DocMagic, visit http://www.docmagic.com/.

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.

"The idea behind releasing SmartCLOSE to a select group of clients for initial testing is that it will help us refine the feature set to ensure we provide the very best TRID closing portal," stated Dominic Iannitti, president and CEO of DocMagic. "The workflow and functionality is already incredibly intuitive and every screen is designed with simplicity in mind."

SmartCLOSE offers a secure, centralized online environment for lenders, settlement providers, and other associates to share, validate, audit, track and collaborate on documents, data and fees. DocMagic's Audit Engine runs continuously behind the scenes to ensure compliance for any changes that may affect tolerance levels, calculation reconciliation and potential RESPA violations. Everything is accessible within SmartCLOSE, including the eSigning and eDelivery of documents.

DocMagic's Audit Engine captures who changed what, what was changed, what you need to fix and why, and all of the electronic evidence to log and complete all transactions in full compliance. DocMagic reps and warrants transactions run through the system. 

Iannitti added: "There a lot of closing portals that have been recently announced to address TRID compliance, but we believe most fall short in adequately tracking tolerance levels, changes in circumstance, and other very complex aspects of TRID compliance. There is a great deal of work and complex problem-solving required to create a robust portal that addresses every facet of TRID compliance while providing a truly dynamic and collaborative workflow environment. Our TRID wizards have been very busy." 

DocMagic has been holding regular webinars and training sessions to educate and prepare clients for TRID compliance. 

About DocMagic:
DocMagic, Inc. is a 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.

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.

“DocMagic has been working very closely with our clients, LOS partners, industry experts and other mortgage entities to be absolutely 100 percent certain that we are TRID compliant by the original Aug. 1 date,” said Dominic Iannitti, president and CEO of DocMagic. “The CFPB’s announcement about the proposed delay will not change our momentum. All of our systems will be TRID-compliant come Aug. 1 ranging from loan document production to LOS integrations to our new Collaborative Closing Portal, SmartCLOSE™.

The CFPB’s official statement for its “proposed amendment to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015” can be found here.

About DocMagic

DocMagic, Inc. is a 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

Join DocMagic on June 24th, 10AM PDT for a Compliance Edge™ Webinar! 

TRID Implementation: A 360° Perspective

This webinar will offer multiple perspectives for TRID implementation from several distinct vantage points in the mortgage industry. We're excited to feature a unique lineup of special guest speakers providing insight into lender, investor, and LOS company perspectives.

The webinar will focus on TRID pain points, working with vendors, changing processes and policies, educating staff, internal testing, and operational risk.

We will also provide the following tools to help you with your TRID implementation effort:

• A recording of the webinar
• The complete presentation deck

Join DocMagic on June 4th for a Compliance Edge™ Webinar!

TRID: Question & Answer Session

We know you have many questions!

This exclusive TRID webinar has been added to our TILA-RESPA Integrated Disclosure Rule Webinar Series to provide as many answers as possible. 

We’ll be joined by our guest presenter, Richard Horn, formerly Senior Counsel and Special adviser to the CFPB's Office of Regulations and one of the key architects of the TRID rule.

Together we will be answering your TRID Rule questions live for a full hour. As a reminder, all registrations will be sent a copy of the webinar recording shortly following the webinar.

Join DocMagic on May 27th for a Compliance Edge™ Webinar!

TRID: Beyond The Basics
This is the second webinar in our TILA-RESPA Integrated Disclosure (TRID) Rule Series.

We are pleased to announce that guest presenter, R. Colgate Selden, Counsel at Alston & Bird LLP in Washington, D.C will be taking the webinar audience Beyond the Basics of the TRID Rule.

Together with DocMagic's Legal and Compliance Department, Mr. Selden will illuminate some of the nuances regarding the Rule and focus on areas of concern for lenders.

Topics we'll cover include:

• The meaning of "Consummation Dates"
• Rounding rules
• Use of addenda to the TRID forms
• Tolerences and cures
• Lenders' increased exposure to liability, and much more!

Mark Your Calendars!

MBA's National Secondary Market Conference & Expo
May 17-20 | New York Marriott Marquis

We’re excited to attend the MBA's National Secondary Market Conference & Expo on May 17. Stop by booth #507 to catch up on the latest Mobile Technology, Integrated Disclosure implementation and new Collaborative Closing Solution. We’re always ready to demonstrate our end-to-end loan document preparation, compliance, and eDelivery solutions for the Mortgage Industry. See you there!
Click here to schedule a meeting.

Our Latest Magic!

• Integrated Disclosures
  Let us show you what we’re doing to prepare for the Integrated Disclosure Rule. Learn about our targeted testing and grab an implementation timeline. 
• Collaborative Closing Solution
  We're bringing lenders and settlement providers together inside our new collaborative closing platform to exchange data prior to closing.
• BorrowerMobile
  A visionary mobile application for tablets & smart phones allows Borrowers to satisfy loan conditions on the go.

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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."

DocMagic is the undisputed leader in the mortgage industry for eSign technologies. The company has a long-standing reputation for developing innovative eSign solutions that integrate seamlessly with mortgage workflows. 

DocMagic has two eSign solutions for clients to take advantage of eSignSystems' SmartSAFE XL eSigning, eDelivery and eVaulting platform was added to the DocMagic family in 2014. DocMagic's eSign platform is a separate SaaS-based solution that features the company's proprietary ClickSign™ technology. SmartSAFE XL is ideal for companies that require more flexibility, extendibility and control over eSigning processes. DocMagic's eSign technology is highly intuitive, simple to setup, and walks signers through the entire document review process to efficiently, expeditiously and compliantly submit eSignatures. 

Notable is that in 2011, in an effort to encourage industry-wide adoption of eSignatures, DocMagic made its eSign technology available to anyone to sign any type of document at no charge. Users can visit DocMagic's website to quickly and easily eSign documents such as contracts, NDAs, proposals and more. 

Documents executed using DocMagic's eSign technology are as legally effective, valid and enforceable as documents printed and signed in ink.

About DocMagic:
DocMagic, Inc. is a 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 http://www.docmagic.com/.

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.

The new TRID offering is available to all DocMagic clients and all LOS partners for in-depth testing. DocMagic wants each of its clients and partners to become acquainted with the TRID enhancements and functionality that was recently incorporated into its suite of web-based document production systems.

"We are giving our clients and partners the ability to be well-prepared for TRID far in advance of the Aug. 1 deadline," said Dominic Iannitti, president and CEO of DocMagic. "After extensive internal testing, re-testing, and BETA testing by a select group of lenders, we perfected the changes required for TRID compliance and are now ready to open the flood gates. We are confident that our systems are now fully compliant with TRID, and we are excited to have our clients and LOS partners access and get used to the new TRID screens and functionality."

DocMagic provides a step-by-step TRID testing guide to all lenders and its support team has already successfully fielded hundreds of questions since the release last month. The company reports that lender testing with DocMagic has been going as planned and no software issues have been unearthed. 

DocMagic says that it has already started client training sessions on the new loan estimate and closing disclosures, has made available detailed training videos, and is presenting regular educational webinars on TRID.

About DocMagic:
DocMagic, Inc. is a 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 http://www.docmagic.com/.

It was like coming home. “The first moment Iwalked into this building, I knew it was the right place for our company,” Dominic “Don” Iannitti says.

Iannitti is president and CEO of DocMagic, the largest loan document production company in the U.S., and the building he’s speaking of is an impressive, 25,000-square-foot state-of the art technology center in Torrance, California. Within the mostly curved walls of this modern office space, more than 100 employees dedicate themselves to providing unparalleled service for their clients, some of which are the nation’s top lenders.

Iannitti founded DocMagic back in 1988, and as he explains the open-office concept of the building to us, he can’t help but reminisce over the company’s humble beginnings— three employees (including Iannitti) in a 1,000-square-foot office. The company’s first sales person joined the team as a part-time employee after successfully selling the company its first fax machine, a critical component in those early days of taking orders.

But while the company’s start may have been unassuming, its vision was always clear.

“The core of what I found interesting when forming DocMagic was taking data in and leveraging it to produce documentation that would otherwise take hours to type out,” Iannitti says. “It was amazing to me that we could now leverage a data point across many forms and reduce errors because there wasn’t any re-typing going on. Of course all this grew into much more.”

A source of great pride for Iannitti is the fact that a high percentage of the company’s 100+ employees have been with the company for the long haul. This not only includes his COO Alan Brisbane, who has been with DocMagic since day one, but many of the support staff as well. “

DocMagic as a whole understands the immense value of its most important resource—the people that make this place run,” Iannitti says. “A lot of companies get to the point of where they are patting themselves on the back for their own ingenuity, when the reality is it’s the people that make up the organization that make it happen. We take a lot of steps to make sure our employees are comfortable.”

When you look at the design of DocMagic’s headquarters, the high-esteem employees are held in is obvious. The open-office layout encourages workers to wander away from their desks, often convening together in one of the office’s many lounges. While each employee has their own individual workspace with big, dual monitors on their desk, anyone can grab a notebook computer and log in from another location in the building. It’s a type of collaborative design that’s borrowed from forward-thinking companies like Google, which pride themselves on breaking the mold in office design and employee culture.

Dramatic art, inspired by previous ad campaigns, adorns the walls,chronicling different periods in the company’s exponential growth. In between the art are large, dramatic windows that look out on the scenic greenery of the campus. Not just for gazing at, employees are encouraged to take advantage of all the amenities the building has to offer, including its outdoor space.

“We enforce breaks,” Iannitti confidently proclaims. “You can come and sit at your desk for the next eight hours and never move at another company, but that’s not the way it works here. The company is positioned specifically so that our employees can go outside and relax, walk around, and get anything they may need within one block of the office. We also have an on-site gym. We try to promote good, healthy behavior in the sense that we make sure you’re eating, taking breaks, and going out and walking. There are plenty of areas for play, such as our Ping-Pong table, where we have tournaments.”

It is this dedication to playing hard that Iannitti believes makes his employees dedicated to working hard, too. And at a time when adoption of e-lending solutions is up and TILA-RESPA is on the horizon, this steadfast work ethic is crucial.

For DocMagic, the move to the paperless loan is nothing new, and as an early adopter of e-sign technology, they have made it their mission to promote it not only within the industry but among the general public as well. One way in which they have done this is to open up their e-sign tool for free, for anyone who wants to upload a document and use it.

“You can come to our website today, and within a couple minutes, upload your documents and send them to whoever you need to with your signature included,” Iannitti says. “The whole process is completely automatic and absolutely free of charge. This initiative demonstrates the fact that we are a technology company and want to do everything we possibly can to help our clients and potential clients leverage the technology we create and do a better job extending their service to their clients.”

The company is currently gearing up for the adoption of TILA-RESPA on Aug. 1.

“It’s one thing to prepare from a technical perspective, but we have a lot of training sessions going on because, of course, our support people have to answer every question that will come in,” Iannitti says. “So already everyone is being trained to understand exactly how everything works and how to answer questions correctly. It’s a major undertaking but it’s exciting at the time—these things shake the industry up. For companies like us, we enjoy change, so we thrive in this type of atmosphere.”

In addition to helping clients ensure they are compliant with TILA-RESPA, DocMagic helps their clients adjust to changing MISMO, standards as well.

“Today’s clients needs are much more extensive. All of our integrations are based on the latest, greatest versions of MISMO.” Iannitti says. “Our clients have never dealt with this before, and it is radically different than the previous version, so having the ability to have a professional services arm has been critical to us to be able to help these clients with those types of needs.”

As demonstrated by the needs created by such regulatory changes, one of the greatest areas of growth for the company in recent years has been in the call center. With a magnifying glass on all the changes the industry is experiencing, Iannitti explains that there has been a substantial uptick in questions, calls, concerns, tweets and requests.

“From our call center perspective, we are now putting on a mid- and late-evening shift, so we are almost around-the clock,” he says. “There’s a lot of growth in this area, but that’s what is necessary to give our clients the quality of service that they expect from DocMagic.”

Despite these changes, Iannitti is quick to remind us that, at its core, DocMagic is and always has been a technology company.

“In every aspect of what we do we’ve leveraged technology to such an extent that it’s what allows us to be on the cutting, even arguably, bleeding edge of just about everything we do.”

Executive Corner

It doesn’t take long to realize that Dominic “Don”Iannitti is a man with a vision. Whether he’sleading his team in his role as president and CEO of DocMagic, Inc., or he’s excitedly sharing his plan for the company’s future, it’s hard to ever imagine a time when he didn’t have a clear vision of where he was headed.

This unwavering drive is a trait honed through years of hard work and approaching business the only way he knew how: by getting in the trenches with his team and never flinching from the evolving technology needs of the mortgage industry.

“I was always an entrepreneur. Even at 10 years old I was selling something,” Iannitti recalls with a laugh. “When I was a kid, it was okay to go door to door; you could sell flower seeds, brass social security cards to the elderly … there was no end. I always enjoyed brainstorming and coming up with sales ideas.”

This entrepreneurial spirit resurfaced when Iannitti and close high-school friend Alan Brisbane hatched their first great business idea in college. The idea was light years ahead of its time—a video rental delivery service back in the days when video rental stores were only just popping up in Los Angeles.

Looking back, this early business venture is the perfect example of the skill that has served Iannitti so well in the mortgage technology sector—his ability to recognize a need within an existing industry and fulfill it better than anyone else in the field.

“It was an interesting concept that worked well for us,” Iannitti says. “There were 20 or 30 stores that would work with us, and then we added food—it was kind of a big deal. It was fun. We didn’t make any money but we learned a lot. The entrepreneurial spirit has always shined bright in my persona, there’s no question about that.”

While Iannitti outgrew this business concept, the solid friendship and business partnership between Iannitti and Brisbane is an enduring one. One of DocMagic’s first employees back in 1988, Brisbane is still with the company today, now in the role of COO . Iannitti proudly considers him his right-hand man. “Don and I have known each other for more than 35 years. He has a way of empowering employees that gives DocMagic an edge on our competition. We sit right across from each other and each day still feels like the first day,” Brisbane said.

With his keen sense for business from an early age, it’s not surprising that, upon entering college, Iannitti declared a double major in business and finance. It was during this period that he first encountered the mortgage industry, albeit in an unusual way.

“At one point I had a job in accounting, working at a college in Carson, California, and there was this building across the street that was just really sharp, and I always thought to myself, ‘I want to work in that building. That’s a great looking building.’ Turns out it was a mortgage company.”

Iannitti, spurred by his enthusiasm for his business classes, put plans into place for DocMagic before graduation day even rolled around.

“You can never over-emphasize the importance of planning,” Iannitti advises. “I worked on my business plan for many, many months. It’s funny because I used that plan to go out and grab capital, which served us that first year of the operation. At the end of the year, my bottom line was within $6,000 off what my plan said it would be. Which is unheard of. Business plans are never right when it comes to that stuff.”

Today, Iannitti has his own dream office—a multimillion dollar facility that, thanks to its unique, modern design, has won accolades from the American Institute of Architects. In classic Iannitti style however, he is not done dreaming.

“We know what we want to accomplish in the next 10 years,” Iannitti said coyly, alluding to the next steps for DocMagic. “It’s our entrepreneurial spirit that makes this possible.”

As featured by TheMReport, April 2015