DocMagic made a major announcement at the MBA Annual Convention – the acquisition of eSignSystems.

In this edition of The DocMagic Moment, Ron discusses the recent acquisition of eSignSystems, the award-winning industry innovator and leader in electronic software solutions. We're thrilled to add this great company and these talented people to our DocMagic family, which, of course, includes all of you.

Listen Now:

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Powerful addition makes DocMagic the undisputed leader in eSign & eVaulting Solutions

TORRANCE, Calif.—October 16, 2014—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today it has acquired award winning industry innovator and leader in electronic software solutions, eSignSystems, from WAVE Systems Corp. (NASDAQ: WAVX). As part of the acquisition, DocMagic will bring on the entire management team of eSignSystems, including co-founder and EVP of Sales and Marketing, Kelly Purcell, and SVP of Technology Solutions, Jonathan Kearns.

“The acquisition of eSignSystems by DocMagic is a marriage of extraordinary talented and visionary people with incredible SaaS and on-premise products and services,” said Dominic Iannitti, President and CEO of DocMagic. “The management team at eSignSystems has done an exceptional job bringing innovative solutions to the forefront of e-mortgage adoption, and their contribution to the eMortgage revolution cannot be overstated. By combining the best of eSignSystems on-premise software with DocMagic’s SaaS solutions, eSignature patent, compliance and enterprise infrastructure, there is no question that this acquisition was meant to be. Simply put, we are just better together.”

The acquisition adds to DocMagic’s already robust suite of electronic products and services. eSignSystems products include, SmartSAFE® a solution enabling the eDelivery, eSigning, and life-cycle management of the electronic record, including short and long term retention of electronic files (eVault), SmartIDENTITY® a solution for validating signers in real-time, SmartFORMS®, a solution for generating proper and personalized forms, and SmartCLOSE®, a solution for simplifying the MERS® eRegistry Integration.

“We are elated about the DocMagic acquisition of eSignSystems,” said Kelly Purcell, EVP of Sales and Marketing for eSignSystems. “Combining the in-depth industry experience of both DocMagic and eSignSystems gives our collective customers and partners business model choices with enterprise level expertise in both on-premise and SaaS electronic solutions. During the acquisition process, we experienced firsthand the commitment from DocMagic ensuring the success and prosperity of our customers through its continued support of innovative 'first-to-market' robust technologies, and excellence in customer service.”

“The acquisition for DocMagic has spectacular timing for electronic mortgage adoption,” said Tim Anderson, Director of eServices for DocMagic. “Not only are DocMagic products and services the most easily integrated tools available in the market, the comprehensiveness of the combined eSignSystems and DocMagic offerings is now officially off the charts. That makes DocMagic the e-Powerhouse.”

About eSignSystems

eSignSystems, formally a division of Wave Systems Corp. (NASDAQ: WAVX) is a leading provider of lifecycle management of electronically signed, legally binding documents, contracts and digital transactions. SmartSAFE enables companies to manage business processes and trans-actions entirely online. Organizations can address certain regulatory compliance issues, improve productivity and efficiency in processing transactions, and achieve significant cost savings through the elimination of document transportation costs, processing and storage. For more information, visit www.esignsystems.com.

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. DocMagic guarantees and warrants that all agency forms are up to date and in compliance with GSE requirements. The company’s compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.

By Melanie Feliciano
ESRA Executive Board Member; and
Chief Legal Officer,
DocMagic, Inc.

I'm proud to be an executive board member of the Electronic Signature and Records Association (ESRA). Today I am sharing with you that eSignRecords2014, formerly the E-Signatures Conference, is taking place November 12-13 in New York City.

ESRA's annual conference serves as a platform for a wide variety of consumers, government entities and technology providers as well as organizations across several industries to share common goals, objective ideas, strategies and effective practices.

We will introduce a newly enriched and expanded program making this year a "must attend" event for both new and former attendees. I encourage you to join me and our fellow colleagues in the heart of Manhattan's Financial District to gain insight into emerging technologies, consumer engagement, contemporary industry practices, legal and regulatory matters, and evolving government trends.

The conference kicks off on Wednesday afternoon and concludes following a full day on Thursday. Additionally, an optional, pre-conference workshop will be held on Wednesday morning, offering an in-depth overview of e-signed records. Take a look at our information-rich agenda, which will include sessions offering CLE credits.

I look forward to seeing you in New York City, as we collectively help shape the future of eSignRecords . Last year's event sold out quickly, so please consider registering soon to ensure your participation.

Click Here to Find Out More

Press Release:
They did it with an FHA hybrid eClosing earlier this year. This time, they tackle a VA loan.

TORRANCE, Calif.-September 2, 2014- DocMagic, Inc., the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, is proud to announce that the firm has partnered again with Mountain America Credit Union to provide a paperless loan closing, this time for a loan insured by the Veteran's Administration. To the company's knowledge, this is one of the first VA loans that have been closed electronically since the VA made the announcement that it would begin accepting eSigned loan documents late last year.

"Mountain America Credit Union is committed to serving the men and women of the armed forces -- both those currently serving and our veterans -- by offering VA loans in a paperless environment," said Amy Moser, Vice President and Mortgage Services Manager for the Utah-based credit union. "Until now, few institutions could serve our military personnel effectively, especially those serving overseas. This loan closing proves that we can accommodate the needs of our armed forces personnel and veterans no matter where in the world they may be."

This is a significant milestone in the evolution of eClosings. Despite a VA announcement last fall that electronic signatures are acceptable for use in conjunction with the VA Home Loan program, uncertainty about whether electronic signatures were valid regarding initial disclosure only, or both initial and final disclosure(s) constrained adoption of the program. The VA's announcement confirms that its eSignature program applies to all disclosures. Mountain America Credit Union used DocMagic's patented eSign functionality for the disclosures and the closing documents.

"The government agencies involved in the home finance industry have now all confirmed that eSign is an important technology for the future," said Tim Anderson, Director of eServices for DocMagic. "Mountain America Credit Union has led the way again, becoming among the first, if not the first, to go the distance with paperless origination of a VA loan. We congratulate Mountain America for their leadership and for making it easier to do business with them than their paper based competitors."

Among the many benefits of electronic transactions, beyond gains in efficiency, recordkeeping, and security, members of the military and their families, including active duty personnel serving around the globe, gain the convenience of closing VA loans remotely. This is a significant improvement over paper-based disclosures and documentation. DocMagic and Mountain America executives are pleased to be among the first to make this service available to the industry.

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. DocMagic guarantees and warrants that all agency forms are up to date and in compliance with GSE requirements. The company's compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.

DocMagic Inc. has announced that its eSign and eDelivery process has been approved by New Penn Financial to deliver compliant initial disclosures for approved correspondent lenders who sell their production to the mortgage company.

“Helping correspondent lenders grow their businesses while reducing their compliance risk is something we do well,” said Dominic Iannitti, president and CEO of DocMagic. “We’re very pleased to introduce our existing customers to New Penn Financial as an investor for their loans and look forward to providing our services to their existing correspondents, including our secure eSign, electronic document technology and industry-leading legal compliance services.”

As part of the relationship, DocMagic will provide New Penn Financial’s investor initial disclosure packages with DocMagic’s secure eSign service.

“The majority of our correspondents already use DocMagic, so it was a natural decision to have them maintain our investor docs. Their ability to keep our documents correct and help our third party originators stay current and compliant is well proven,” said Brian Simon, COO of New Penn. “With the amount and velocity of compliance changes occurring in our industry, now more than ever we needed a partner who could keep pace with our growing institution and ensure full compliance in a fast-changing regulatory landscape. DocMagic exceeds those expectations and criteria. We’re proud to be working with them.”

As featured in National Mortgage Professional, August 2014