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.

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:
New solution brings lenders and settlement providers together inside a secure collaborative portal to view and exchange fee data prior to closing

TORRANCE, Calif., April 23, 2015 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that it will launch a Collaborative Closing Platform for the mortgage industry. The solution is comprised of a secure, seamless and dynamic web-based portal that efficiently and expeditiously helps lenders comply with the TILA-RESPA Integrated Disclosure (TRID) rule that becomes effective on August 1.

DocMagic's Collaborative Closing Platform enables streamlined, real-time exchange of information between lenders, settlement agents and their associates via a secure web portal designed to electronically access, edit, validate and approve both data and documents. As a result, the coordination of all closing costs and audits of critical disclosure details are addressed prior to closing and in full compliance with TRID.

"Our Collaborative Closing Platform brings all of the necessary closing components and parties together to effectively assist lenders in complying with TRID in a very efficient, timely fashion," said Dominic Iannitti, president and CEO of DocMagic. "With one simple click, lenders can invite their settlement providers to view and update disclosure data, which is automatically analyzed by DocMagic's comprehensive Audit Engine in preparation for final approval by the lender."

The solution utilizes version 3.3 of the new MISMO standard that is needed for TRID to bi-directionally and securely pass data between parties. DocMagic's Audit Engine automatically tracks RESPA tolerance levels, changes in fees and related approvals to ensure compliance with applicable regulations. Each step in the process is tracked and stored within the secure environment.

Approved parties that are involved in the process can view a full electronic audit trail history of compliance, workflow and document management, which is securely captured and housed in a centralized area for easy access and reporting. Inside the secure platform parties with appropriate permissions can access shared documents, enter and adjust data, view the closing disclosure in real-time as it is modified, and communicate via an integrated chat system.

DocMagic's Closing Collaboration Platform leverages its eSign technology to deliver and facilitate the electronic signing of the closing disclosure and related documentation. The solution also provides a bridge that can seamlessly integrate with title, closing and lender LOS systems. The company says that in addition to lenders and settlement providers being able to utilize the platform, other relevant technology vendors can also take advantage of the solution to review and share data and documents.

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/.