I'm Pat Theodora. 38 years ago I helped found DocMagic, and today, as its leader, I continue to be motivated to drive innovation and efficiency in digitizing the mortgage process for our customers. 

I am even more excited by what I see on the horizon for 2025. And I want to share a little of that with you today.

The fully digital mortgage journey becomes reality

You may not know this, but today the majority of lenders are using eClosing technology. With a platform that supports all segments from origination through delivery to servicing, more than half of all U.S. loans are handled by DocMagic at some point in the process. But currently only 11% of you have made the move to 100% start-to-finish eClosings.*

I truly believe that will change dramatically this year.

Why? Because one of the main things holding many lenders back has been a concern over systems cobbled together with pieces from multiple vendors, each handling just a portion of the process. That can spell trouble.

But now, some providers, including us, are offering comprehensive, end-to-end approaches to fully digital eClosings. This empowers you to get from document origination to final closing, including RON, using a single vendor, avoiding integration glitches and downtime.

We know how great this can be for lenders like you, because our Total eClose™ solution has been providing fully digital, seamless eClosings since 2022. You’ll benefit from increased efficiency, reduced error rates, and faster turnaround times, while borrowers will enjoy a frictionless, user-friendly experience. Better still, the lenders we work with report they’ve enjoyed $400-$600 in savings per closed loan.

If you haven’t explored single-vendor solutions, I highly encourage you to do so now. There are only a few currently available, and in my opinion, Total eClose is the most efficient and effective. That said, we recognize a single-vendor solution is not always viable and understand the need for interoperability. Total eClose is designed to work with all existing documents and providers. You can realize the benefits by utilizing it as the unifying component for all parties.

Artificial intelligence (AI) plays a bigger role

I also believe that a key factor in helping you make the decision to move to fully digital closings is the inclusion of more AI in mortgage processing.

Used correctly, AI can help you make faster, more accurate decisions. AI algorithms offer the potential to quickly analyze your borrower’s data to assess creditworthiness, predict loan performance, and communicate directly with your borrowers and partners to facilitate information gathering. This will ultimately speed up underwriting and reduce risks associated with human error.

At DocMagic, our solutions are already making use of AI at various stages of the process. For example, our AutoPrep™ solution uses AI to instantly identify all signature, initial, and notary areas in any document. As we advance our other solutions in 2025, we’re integrating even more uses of AI to make your eClosing processes even more accurate and efficient. I look forward to sharing more with you soon.

Get to the secondary market more easily and faster

In addition to co-founding DocMagic, I personally spent over four decades on your side of the table. I know how important it was to quickly sell my loans to Fannie Mae, Freddie Mac, or other investors so I would have funds available for the next one. Today, you have the ability to generate eNotes with digital asset certainty and store them in an eVault, like our SmartSAFE™, that provides a secure, auditable, tamper-proof trail.

I am very excited that the secondary market is becoming more and more accepting of doing business digitally. With the faster closings that digital solutions provide and the ability to get your loans to the MERS® eRegistry almost instantaneously, this year promises your loans will get to the secondary market in as little as two days and will be easier to trade.

Overall, this year holds tremendous promise for the mortgage industry. At DocMagic, we’re committed to leading the way in helping you, your borrowers, your title and settlement agents, your notaries, and, of course, your buyers navigate this exciting future. I hope you’ll join us in making fully digital, AI-enhanced mortgage processes the norm, as they’re ushering in a new era for the mortgage industry.

Meet Pat Theodora:

Pat, a cofounder of DocMagic, became CEO in 2024. With deep expertise in mortgage origination, securitization, and servicing, Pat understands every aspect of the loan process from the lender’s perspective. Pat’s 44 years of industry knowledge uniquely positions him to drive DocMagic to provide cutting-edge digital mortgage solutions that anticipate and meet the evolving needs of the market. Learn more about me.

*Angel Hernandez, TheMortgagePoint.com, eClosings as a Solution … Not the Problem. April 17, 2024.

Related Content:

• The essential role of an eVault in today’s digital mortgage landscape (3/29/2024)

• Gaining seamless eClosings through notaries at the Agent’s Lounge (3/01/2024)
  
• DocMagic named 2024 Tech100 Mortgage winner (2/13/2024)
  

Today, we're proud to announce the promotion of Chris Lewis to the role of Director of Sales. Chris is tasked with building on DocMagic’s success as a market leader while also driving strategic sales initiatives for the company’s new innovations.

As the Director of Sales, Chris is spearheading a pivotal initiative. His primary goal is to lead a team of subject matter experts in offering a consultative approach. This approach assists lenders of all sizes in realizing the cost-saving benefits and operational efficiencies of eClosings, which are becoming more prevalent in the industry. Furthermore, Chris and his team are committed to highlighting the exceptional document generation and compliance capabilities offered by DocMagic.

“Chris’ outstanding leadership style and extensive experience make him the ideal choice to support DocMagic as we strive to deliver best-in-class mortgage technology solutions for lenders,” said Dominic Iannitti, President and CEO of DocMagic. “We are delighted to welcome Chris into this strategic role, as we seize unique opportunities in the marketplace and expand our innovative offerings in digital lending.”

Chris has been an integral member of DocMagic's sales team since 2016, amassing over 25 years of invaluable industry experience. This extensive background equips him with a rare combination of deep domain knowledge and a profound understanding of how to deliver meaningful value to lenders.

"I am eager to offer our comprehensive solutions to clients, striving to provide a genuine partnership experience that enhances overall client engagement," Chris expressed. "With DocMagic's history of leadership in the market spanning over 35 years, and the growing prevalence of eClosings, I eagerly anticipate collaborating with lenders to create increased value for both themselves and their borrowers."

Related Content:

• Brian D. Pannell of DocMagic Wins HousingWire's Vanguard Award (10/11/2023)

• California Passes Remote Online Notarization Bill (10/02/2023)
  
• Ask the eClosing Team: Unlocking the potential of hybrid eClosings (9/21/2023)

Welcome to Ask the eClosing Team, an ongoing series where DocMagic’s eClosing pros tackle real questions that we’re hearing from lenders. Today’s responses are drawn from a recent interview with eClosing Team member Leah Sommerville. We’ll be sharing some more exciting insights from Leah in an additional article next month.

Leah Sommerville, DocMagic’s Sr. eServices Account Exec and an expert from our eClosing team, sat down with American Business Media, publishers of National Mortgage Professional, at the 2023 New England Mortgage Expo to talk about the current state of digital lending. Watch the full interview here.

The Journey To Widespread eClosing Adoption

Below are some additional responses Leah provided on the topic:

Are we still seeing eClosing adoption?

The National Association of Realtors confirmed that 97% of buyers shop for their homes online and more than half of buyers ultimately purchase their homes online. Lenders are embracing eClosing to meet borrowers’ expectations of a digital closing experience. They are realizing that it doesn’t make sense to employ a paper process during the last touch point they have with borrowers… the closing table.

What are the specific benefits driving eClosing implementation?

Borrower expectations, eNote acceptance, and the evolution of eNotary legislation have persuaded many lenders to embrace eClosings. Loan originators appreciate eClosing’s opportunity to allow all participants to review the entire closing package (as often and as long as they’d like) in advance of closing day, provide the borrower a 15-minute closing experience, streamline the closing for all stakeholders (including the Settlement Agent’s automated invitation with access to their eClose console, which includes the entire closing package and opportunity to add title docs for eSignature), eliminate shipping/printing costs, and offer immediate access to all documents post-closing to expedite funding.

Are eClosings a fad?

Absolutely not. Is shopping for homes online a fad? Nope again. 87% of lenders agree that eClosing is faster as well as cheaper than traditional closings.

Almost all lenders are offering Hybrid 1 (eSigning, paper note, paper notary) eClosings at a minimum because there is no impediment to adoption. Hybrid 1 eClosings are very similar to eSigning the initial disclosure documents, which most lenders have already implemented. Hybrid 1 eClosing is possible in every state and for every loan type, and is supported by all secondary market participants. We’ve also seen increased volume for eClosings, which include eNotes, as the GSEs, Ginnie Mae, and the Federal Home Loan Banks began funding eNotes in the last several years. Last, but certainly not least, COVID and the constraints on personal interaction affected almost all real estate closings in the past several years—drastically evolving eNotary legislation. In fact, there are now only 2 states that don’t allow for eNotarization.

As long as consumers expect digital experiences and lenders continue to save $444 per loan with RON (Remote Online Notarization) and eNotes, eClosing is here to stay.

As Leah mentioned in the interview, demand has pushed the industry to a place where lenders who want to future-proof their business should provide a digital closing experience. Borrowers accomplish so much online—even borrowers who aren’t traditionally viewed as part of a tech-savvy demographic.

Digital closings are faster, cheaper and more convenient. They are, unequivocally, the future.

To talk to Leah or any of our other experts about eClosing adoption, send them an email at eClosingTeam@docmagic.com.

Related Content:

• A key to eClosing: the developing case of the SECURE Act (3/23/2023)

• HousingWire recognizes DocMagic with 2023 TECH100 award (3/8/2023)
• House overwhelmingly passes federal RON bill (3/1/2023)
  

Recently, we reported that the House passed the SECURE Notarization Act of 2023, which is a bipartisan bill leading the charge to modernize the notarization process with remote online notarization (RON). The bill has been introduced multiple times in the House of Representatives and finally passed in late February; now, it’s arrived in the Senate and is with the Senate Judiciary Committee after two official readings.

The passage of the bill in the House is a positive development as it recognizes the need for making notarization-dependent processes, like eClosing and other real estate transactions, more accessible and convenient for all.

Clearing The Path To eClosing

One of the key ways the bill can achieve convenience for all is by solidifying the way forward for complete eClosing processes in any state in the U.S., which can significantly reduce the time and costs involved in loan closings.

Since RON allows for remote capture of one of the final legal requirements for a smooth closing—the notarial official’s seal on key documents—a federal law establishing rules around RON could pave the way to a future with fewer state-based obstructions to a digital closing process. And the benefits of a Total eClose are clear: loans close faster with fewer mistakes, and costs go down even as business improves for lenders, loan officers (LOs) and notaries.

However, the fact that the bill has stalled out before, despite its current status as under review by the Senate Judiciary committee, is cause for concern for all proponents of digital adoption. The bill needs to be passed by both the House and the Senate before it can become law, and any obstacle in the process only delays clarification of nationwide rules on RON. The Senate Judiciary committee needs to carefully consider the bill and its implications for the real estate industry—including its implications as a final step in pursuit of complete end-to-end eClosings.

The Steps Before RON: Hybrid eClosings & eNotes

While the bill implicitly clears the way for increased use of eClosings, it also draws attention to the fact that RON and digital notarization are only one aspect of closing digitization (albeit an important aspect). The solution for lenders anxiously awaiting passage of this bill? Hybrid eClosings.

Some parts of the lending industry still require paper—in fact, to complete a closing and sell the note to an investor, some lenders are required to paper out two document classifications: the note and anything requiring recordation and notarization. Aside from these essential documents, though, lenders may move toward a more efficient closing by generating electronic (e-enabled) documents for everything else, from the initial disclosure to the closing package. This can be achieved with the use of a software solution built for document generation of e-enabled, eSign-capable digital documents.

Want to discuss what a hybrid eClosing would look like for your organization? Schedule a demo and get your questions answered.

Once lenders have integrated a hybrid eClosing, they can take advantage of the next step in eClosing: eNotes, which are electronic versions of promissory notes. These eNotes are legally enforceable and can be transferred and sold much more easily than traditional paper-based notes, helping to increase liquidity in the market and provide greater flexibility for lenders.

Digital Adoption And Advancement

The SECURE Act is particularly important for lenders who have been seeking to increase their digital adoption in recent years. By allowing for RON and electronic signatures, the SECURE Act makes it easier for lenders and other entities to conduct business in a digital environment. This can help to increase efficiency and reduce costs, ultimately benefiting consumers as well.

Overall, the SECURE Notarization Act of 2023 represents a significant step forward in the modernization of the notarization process. At DocMagic, we’re watching this bill’s progress with excitement and anticipation, and we’ll report any updates here on our blog. Ultimately, we believe the Senate’s passage of the SECURE Act will benefit both lenders and consumers, making notarization faster, more efficient and more convenient.

Related Content:

• HousingWire recognizes DocMagic with 2023 TECH100 award (3/8/2023)

• House overwhelmingly passes federal RON bill (3/1/2023)
  

• DocMagic provides eClosing and eVault technology for Barr Group Mortgage’s First eNote Transaction through Click n’ Close’s non-delegated correspondent eNote program (2/16/2023)

Alabama-based mortgage banker Barr Group Mortgage completed the first eNote transaction through Click n’ Close’s non-delegated correspondent eNote program. Others participating in the transaction included the MERS® eRegistry (the mortgage industry’s approved eNote system of record), Ameris Bank as Barr Group Mortgage’s warehouse lender and DocMagic as the eClosing and eVault tech provider.

“We have been blown away by the non-delegated correspondent eNote process offered by Click n’ Close,” said Elizabeth Moore, Chief Operations Officer at Barr Group Mortgage. “Working with Ameris Bank’s warehouse division SVP Jill Gainer helped ensure the set-up process was straightforward, and our first two loans were purchased the day after closing. Using eNotes has eliminated the need for allonges, overnight shipping costs, note corrections and chasing down lost notes.”

Through the eNote program, non-delegated correspondents can decrease turn times on their warehouse line to 48 hours or less, ultimately saving them money in the form of reduced interest charges and enabling them to turn over their warehouse lines far more frequently. Click n’ Close has established partnerships with multiple warehouse lenders, such as Ameris Bank, to expand warehouse line access to qualified program participants previously financially ineligible for these lines of credit. The approval process for program participants captures most of the relevant financial statements and insurance exhibits requisite to the warehouse approval process, thus materially accelerating the warehouse approval timeline.

“We are thrilled to have our first eNote executed in such efficient timing – less than three weeks from application to closing – and with such renowned partners,” said Click n’ Close Owner and CEO Jeff Bode. “Our non-delegated correspondent eNote program provides emerging mortgage bankers with a tremendous opportunity to incorporate incredible agility and operational efficiencies into their business from the get-go and enables them to differentiate themselves with their customers, as well as their title and real estate partners, through a convenient digital closing experience.”

As Click n’ Close’s primary technology partner, DocMagic played an integral role in the success of this first transaction. Total eClose is DocMagic’s comprehensive eClosing system that provides everything necessary for a paperless eClosing. DocMagic’s powerful end-to-end technology provides an intuitive interface that all participants — lenders, settlement service providers, notaries and borrowers — can use immediately, without a steep learning curve.

“Every lender is on the path to digital with the goal of closing electronically and delivering eNotes into the secondary market, but there are many challenges facing smaller lenders,” said Brian D. Pannell, Chief eServicing Executive at DocMagic. “Click n’ Close, a long-time client, had been seeking a way to support their correspondent lenders who don’t have the resources nor the relationships to support conducting transactions with eNotes. We’re proud to have been part of their solution.”

Related Content:

• CUSO leaps over hybrid eClose to offer fully electronic loan closings (2/6/2023)
• We’re making eClosing easier! (1/9/2023)

• Coastal Credit Union Chooses DocMagic’s Total eClose (12/20/2022)

Superior Financial Solutions, LLC, a CUSO owned by Superior Financial Credit Union, chose DocMagic’s Total eClose solution for completely paperless electronic mortgage loan closings and is now performing eClosing ceremonies using Remote Online Notarization (RON) through its title agency subsidiary.

Kurt Neeper, President of Superior Financial, said the company decided to offer their customers’ members an electronic closing, and so looked at companies with the most experience. After researching the industry, they came to a conclusion; DocMagic has gone further down this road than most, its user interface was one of the best in the industry, and its mobile capabilities are second to none. This is critical because most credit union members will be doing their remote closing on a phone or tablet.

As a result, Superior won an industry award for being the first credit union in Ohio to provide a true, end-to-end eClosing solution to borrowers.

Unlike many lenders who settle for a hybrid eClosing, Superior took a different path. Superior supports many credit unions with mortgage origination and consistently focuses on creating a great member experience. The company knew very early that delivering a fully paperless loan closing on an electronic tablet was their end goal and DocMagic helped them to achieve it.

Mr. Neeper said DocMagic’s remote online notary functionality was key to the decision to partner with us because consumers are drawn to it for the convenience it offers. He also pointed to DocMagic’s experience

actively working with eClosing and RON clients in this area every day, for having an awareness of the issues that can arise.

DocMagic’s experience, integrated solution with Superior, and working relationships with key stakeholders - the GSEs, MERS - made the overall approval process much more seamless.

Related Content:

• We’re making eClosing easier! (1/9/2023)

• Coastal Credit Union Chooses DocMagic’s Total eClose (12/20/2022)

• DocMagic unveils eSign 3.0, with new RON, eClosing capabilities (10/6/2021)

Now borrowers can participate in an eClosing on the same device!

To join a typical eClosing event, each borrower receives a unique email invitation and is required to login and authenticate separately using separate systems.

But what if borrowers don’t have the option to utilize separate computers or what if there is only one computer in the household?

DocMagic's Total eClose solution now makes it possible for more than one borrower to join an eClosing using a single device or computer. This dramatically simplifies authentication and reduces the number of steps for your borrowers.

Now eClose using a tablet or other smart device!

With more borrowers using their mobile devices to participate in the mortgage process, we’re offering a more intuitive tablet-based experience. Now borrowers aren’t limited to eClosing only when they have access to a desktop or laptop computer. By giving borrowers the flexibility to eClose using any device, we've made the eClosing process, including Remote Online Notarization (RON), even simpler.

To learn how Total eClose™ can give your organization an advantage over your competition — and position you to handle revenue compression, just visit docmagic.com/total-eclose.

Related Content:

• Coastal Credit Union Chooses DocMagic’s Total eClose (12/20/2022)

• DocMagic unveils eSign 3.0, with new RON, eClosing capabilities (10/6/2021)

• DocMagic named to 2021 Inc. 5000 list of fastest-growing companies (8/26/2021)

We’re happy to announce that Coastal Credit Union has chosen DocMagic’s Total eClose solution for completely paperless electronic mortgage loan closings and completed their first eClosing ceremony using Remote Online Notarization (RON) in North Carolina. What’s more, we were able to implement fully digital eClosing with RON in only two weeks! 

“Every lender is progressing toward their own vision of digital mortgage lending, but few are bypassing the hybrid eClose and going directly to the completely electronic ceremony,” said Dominic Iannitti, president and CEO of DocMagic. “Not only did Coastal Credit Union go from traditional closings directly to fully electronic loan closings with Total eClose, but they completed that journey in a very short period of time.”

Many lenders are still operating under the mistaken assumption that the work involved in going fully electronic -- investor relations, servicer coordination, MERS connections, etc. -- will take many months to complete. As a result, many opt to enjoy the benefits of a hybrid eClosing process as an intermediary step in their transformation to fully digital lending.

Coastal did not want its members to wait for the benefits eClosing offers and chose a different path. The credit union’s management took advantage of the industry downturn to focus their attention on future-proofing their organization by implementing Total eClose. Management was committed to the process, but no one guessed they would be ready to eClose so quickly.

Within just a few weeks of the management team’s decision to go with DocMagic’s Total eClose solution, the credit union closed a mortgage loan for a member who was purchasing a home in North Carolina but was unable to leave Colorado to attend a traditional closing. The solution operated flawlessly, and its built-in RON capabilities made it possible for the member to close at their convenience.

Coastal was under an emergency order during COVID that allowed the use of RON. Afterward, as the state of North Carolina completed its RON Authorization legislation, the company reverted to IPEN (in-person electronic notarization) using an eNotary agent. Coastal can now close electronically in either manner.

“For us, it’s all about the member experience,” said Wendy Dawson, Vice President of Mortgage Lending at Coastal Credit Union. “We’re always looking for better ways to provide our members with a service that is convenient and accessible, wherever they find themselves. Total eClose provides a transparent and streamlined process through which our members' questions are answered before the closing so they can focus on more important issues -- like how to get the keys to their new homes.”

Coastal Credit Union is a not-for-profit, member-owned, financial cooperative, offering a full range of financial products and services.

Related Content:

• DocMagic unveils eSign 3.0, with new RON, eClosing capabilities (10/6/2021)
• DocMagic named to 2021 Inc. 5000 list of fastest-growing companies (8/26/2021)
• 38 states allow remote notarization as RON, RIN and IPEN gain momentum (7/28/2021)

More lenders are moving beyond hybrid eClosings to a fully digital eNote closing process. As of April 6th, the MERS® eRegistry reported over 1.6M unique registered eNotes. The list of organizations that can originate, fund, and purchase eNotes continues to grow and now includes 23 investors.

Recently, DocMagic invited Jeff Bode, President and owner of Mid America Mortgage to discuss his organization’s experience with eNotes on a recent eClosing webinar.

More choices than ever

“When we first started, nobody accepted an eNote, except Fannie Mae and Freddie Mac,” Bode recalled. But as time progressed, Bode said his company had more options, so much so that the real trick was determining who was going to get the note to deliver best execution.

“We had to know, what's going to be our best execution to deliver that loan? Is it an aggregator who is going to pay more or is the value of the servicing we can retain higher if we sell it to the GSEs,” he said.

Today, Mid America sells eNotes to about seven different investors, including Wells Fargo, Chase, Mr. Cooper, PennyMac, Freddie Mac, and Fannie Mae. This increased adoption of eNotes by the industry is exactly what Fannie Mae said was happening in its 2021 White Paper “Unlocking the power of eNotes.”

“eMortgage adoption was increasing before the pandemic. And then — nearly 20 years after Fannie Mae purchased our first eMortgage — the past two years introduced the unprecedented adoption of industry participants who now support and accept electronic promissory notes (eNotes). Now, private investors, funding providers, servicers, and technology service providers are starting to increase their focus on eNotes, too, clearing the path for widespread adoption.”

Watch the webinar: True Stories: Hybrid, eNote and RON implementation

Warehouse lenders come to the table

When Mid America first started originating eNotes, finding a warehouse lender who understood the value of the product was not easy, according to Bode.

“We had been working with a warehouse lender for about five years and told them that we were considering eNotes,” Bode said. “They told us they would never fund those products. As it turned out, that was the company that funded our first eNote because they didn't wanna miss out on the business.”

Today, Bode and his team work with four warehouse banks and won’t consider working with a warehouse lender who doesn’t understand the product.

The MERS® eRegistry now includes 30 warehouse lenders funding eNotes. As lenders continue their unique processes of digital transformation, investor support for eNotes can no longer be considered an impediment to their forward progress.

DocMagic’s Total eClose™ solution facilitates eNotes, hybrids, and full eClosings. To get started with eNotes, 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)

DocMagic announced the rollout of eDecision™, a solution that significantly expands the level of analysis applied to e-eligibility determination for eClosings. The result is a clear-cut, highly accurate decision that tells users exactly how far they can take a digital closing based on the unique attributes of the loan transaction—all the way down to county-level eRecording acceptance.

eDecision is powered by DocMagic’s sophisticated audit engine, which begins the decisioning process as soon as the first set of disclosures are generated and continuing with e-eligibility checks throughout the entire loan process. The solution accesses and compiles first-party data, leveraging an immense amount of information to improve the digital closing process.

“Our goal in developing eDecision was straightforward: to help clients execute flawless eClosings and bring a new level of automation to the overall process by providing lenders with an immediate determination of how “e” they can be,” stated Dominic Iannitti, president and CEO of DocMagic. “Simply put, eDecision equates to eSuccess for all parties involved in the closing process.” 

The eDecision solution does not force users to leave DocMagic’s platform and visit another website, use a third-party application, or access an ancillary database. Everything eDecision offers is available within DocMagic’s core process and is provided as an integral component of the eClosing workflow, ensuring a seamless and efficient eClosing process each and every time.

eDecision’s core capabilities:

• eClosing selection – eDecision automatically determines how “e” lenders can be with DocMagic’s Total eClose solution, which offers four distinct types of compliant eClosings. From the moment the first document package is generated, the highest level of hybrid available or a fully-paperless eClosing is instantly identified. 
• eNote certification – eDecision automatically confirms whether a lender is certified to originate eNotes, is registered with MERS, and has completed their MERS end-to-end testing.
• eRecording readiness – eDecision automatically validates whether the local recording jurisdiction is able to accept an electronically executed security instrument.
• Knowledge-based authentication (KBA) – eDecision automatically confirms whether KBA is required in the closing state where it occurs.
• eNotary acceptance – eDecision automatically identifies which type of notarization is accepted within the jurisdiction: remote online notarization (RON), in-person electronic notarization (IPEN), or traditional in-person notarization.
• Investor acceptance – eDecision will also soon provide a determination whether an investor will purchase an electronically closed loan, saving time for secondary marketing departments.

All analysis and results from eDecision are incorporated into DocMagic’s Loan Detail Report (LDR), which is automatically included with all document requests and is accepted by most investors as proof of regulatory compliance.

Iannitti concluded: "We strive to eliminate manual processes and improve the overall user experience. We don’t want our clients having to go elsewhere to research or rely on disparate third-party systems for what we believe should be fully-integrated analysis. eDecision gives lenders, settlement providers and notaries a completely integrated digital closing determination process — and the confidence they need to offer eClosings on a widespread scale.