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.”

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• ICE Mortgage Technology deploying DocMagic’s eVault tech for Encompass LOS (6/14/2021)

• AmeriSave leverages DocMagic’s Total eClose, doc gen solutions to maximize productivity (6/10/2021)

By implementing DocMagic’s eVault solution, Centier Bank is prepared and ready to receive eNotes from their warehouse clients. The move strategically positions Centier Bank 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 focuses on providing excellent 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. The technology enables the bank to accept and fund eNotes from customers closing loans electronically. The key drivers behind this decision were to facilitate the ease of doing business with eNotes and to establish a competitive advantage going forward.

Centier’s leadership believes that in the next 12-18 months, eNote acceptance will gain significant industry adoption among both mortgage bankers and end investors and, as a result, committed to investing in eVault technology. DocMagic is playing a pivotal role in helping transform the bank’s business model.

Utilizing DocMagic’s SmartREGISTRY™ system to register their eNotes with the MERS® eRegistry, they are then securely stored within DocMagic’s eVault platform. Centier’s eWarehouse lending process is now quicker, and easier, clearing warehouse lines expeditiously. With cycle times down reduced to minutes versus days, the overall process to close, fund, and sell the note is effectively fast-tracked.

With increasing acceptance of eNotes, the industry can see more and more aggregators also getting on board with eNotes. When lenders see the trend in the secondary market, it supports their decision to go digital.

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, and custodians.

DocMagic’s eVault is widely 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.

DocMagic’s Total eClose™ solution facilitates eNotes, hybrids, and full eClosings. To get started with eNotes or eVault technology, request a demo with our eClosing Team!

Related Content:

• SimpleNexus enables fully digital loan closings with DocMagic’s eVault, eNote tech (9/29/2021)

• Ask the eClosing Team: Why are eNotes better than paper notes? (and other burning questions) (8/18/2021)
• 3 reasons why your post-closing department loves eClosings and eNotes (6/24/2021)