Going to the National Notary Conference in June? Stop by booth #2 and learn how DocMagic unites eNote, eSignature, eNotary, MERS eRegistration, eDelivery and eVault solutions inside a single offering  — with Total eClose™.

Lender's are going digital. Are you prepared?

Total eClose™ is giving notaries, settlement service providers an edge.

• A regional settlement service provider slashed closing times 70%, while satisfying TRID’s “receipt of delivery” requirement
• The state of North Carolina made history when it hosted its first paperless, 
  all-electronic e-closing — complete with eNotarization
• A Massachusetts settlement agent reduced closing times by over 30% and virtually eliminated trailing doc issues

See Total eClose™ in action... and start offering a completely new customer experience! 

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By Tim Anderson

The days of no pressure are over. Any lender that hasn’t already waded into the ePool had better be ready to jump. With immense regulatory pressure looming, the old method of just doing something is no longer sufficient. It's time for a new tack.

The recent news about the IRS decision is an ex- ample of this. With all the buzz around this news, we’re already hearing from lenders who are interested in a point solution that will allow them to take advantage of this decision for doing business with the IRS. This makes sense because this is front and center in the news, but since these lenders are not considering how this decision impacts the rest of their business, it’s short sighted.

The 4506-T is just one document and while it makes good sense to make the ordering, accepting, processing, filing and storing that document all electronic, what about all the other documents? The e-signature part of this solution can and should be applied elsewhere in the enterprise. When it is extended, it should be done the same way. If it’s good enough for the goose, it’s good for the gander as well.

Seeking a paperless map. Electronic signatures are more than a digital picture of a signature; they are a process, a ceremony. E-sign is a legal process that includes proof that the borrower actually viewed every document, whether there’s a signature or not. Auditors will demand to know if the borrower actually viewed every document. There are also requirements around whether the signature is embedded or an overlay. There are other requirements around how the lender provides the tamper- evident seal. Investors have a lot to say about what is actually involved.

Providing a common and consistent eSigning experience. These processes can vary by vendor, but using different types of e-sign technology across an enterprise can cause problems with investors, to say nothing of confusing borrowers and degrading the consumer’s experience. Remember, from the consumer’s perspective, there are many other documents they would like to sign electronically. If the lender hopes to get consumer adoption, the same tools should be used across the entire process and borrowers should not be asked to sign some documents electronically and others traditionally.

Lenders no longer have the luxury of gently moving into the paperless world. They need to get in soon and they need to take their entire lending process with them. That means that institutions will be seeking solutions that will get all of the paper out. Lacking that, they will seek out partial solutions that already carry within them the map for the future steps that will get them fully electronic.

The very best way to ensure that is to work with a vendor who can take you down that road as fast and as far as you want to go, but in no case slower than the government requires. Choosing a vendor that can only provide a point or piecemeal solution, without a plan for getting to the next step, will put the institution at risk.

An “e”nterprise solution, from application, to closing, to servicing. A good RFP will go a long way toward separating those players who cannot provide a complete solution from those that can. It will also reveal which vendors understand the nuances—from application all the way to closing and loss mitigation—that could impact the lender’s ability to comply with investor and regulatory guidelines. Moving into electronic lending is no longer a simple, cheap or fast implementation. Like everything else in this business, it requires careful consideration.

This is part one of a two-part article on the industry-wide transition out of paper-based processes to electronic, from application through to closing and servicing. Tim Anderson is the Director of eServices at DocMagic.

Posted with permission from The Mortgage Executive Magazine.

Press Release:

Fully TRID-compliant solution delivers superior service and a competitive advantage

TORRANCE, Calif., Sept. 29, 2016—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that Corporate Settlement Solutions (CSS), a title and settlement services company, has successfully implemented DocMagic’s Total eClose™ solution.As a result, CSS can offer a completely new customer experience, gain a competitive advantage, and remain 100 percent TRID compliant at all times.

“We recognized early on that in order to differentiate ourselves from a crowded marketplace, it was paramount to offer elevated service to our clients,” said Jerome Jelinek, CEO and general counsel at CSS. “With the addition of DocMagic’s Total eClose, we offer lenders the opportunity to transform their mortgage origination process through the elimination of paper, thereby significantly reducing costs and increasing efficiencies.”

CSS combined DocMagic’s functionality, services and integrations into a single offering to create an easy-to-use, out-of-the-box eClosing solution. DocMagic’s Total eClose functionality unites eNote, eSignature, eNotary, MERS eRegistration, eDelivery, and eVault services to provide a highly-efficient, paperless end-to-end eClosing. In addition, documents that need to be notarized can be conveniently eSigned and eNotarized without leaving the comfort of their home.

“We are excited that CSS is successfully leveraging our Total eClose solution to provide a completely electronic closing process for their customers,” said Dominic Iannitti, president and CEO of DocMagic. “As a settlement service provider, it is impressive that CSS has taken a leading role in promoting the benefits of eClosings and as an early adopter, they will enjoy a significant advantage over their competitors.”

After the introduction of TRID and its increased liability for lenders and their assignees, if you originate, sell, buy or service loans, you must be able to demonstrate TRID compliance years after a loan closes. DocMagic’s system provides electronic proof and evidence of compliant transactions for future audits with a date and time stamp audit trail of everyone who has touched the transaction at any level. From the original loan application and Loan Estimate (LE) to receipt of delivery of the final Closing Disclosure (CD), data, calcs and documents are stored in an eVault to provide the ability to replicate proof of compliance.

With TRID’s increased compliance requirements and soon the implementation of the new Uniform Closing Dataset (UCD) requirement, the future is in fully-electronic transactions that help lenders meet strict timing requirements and provide the ability to fully recreate all compliance checks at every point in the transaction. The CFPB and industry experts agree that it’s better to adopt and implement the technology and processes to make eClosings a reality now as opposed to later.

About DocMagic
DocMagic, Inc. is the 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.

About CSS
Corporate Settlement Solutions (CSS) is a dynamic, forward-thinking group of real estate settlement service professionals with a focused passion for providing a superior customer experience. The company started as a local title agency in northwest Michigan in 1992. CSS’ growth fostered expansion into a regional vendor management company offering a full range of title, closing, valuation, flood, and recording products. The company offers powerful title software for accurate and efficient
title and settlement transactions as well as an and-to-end eClosing solution. For more information, go to www.visitcss.com.

Presss Release:
Transforms the entire mortgage process from initial eDisclosure to final eClosing and investor eDelivery

TORRANCE, Calif., March 30, 2016 -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today the formal launch of its fully integrated eClosing solution that electronically transforms the entire mortgage process from initial eDisclosure to final eClosing through investor eDelivery. 

DocMagic's total eClosing process seamlessly integrates its eDocument library, SMARTDoc™ eNote with eSignature, eNotary, MERS eRegistration, eDelivery and eVault services in a comprehensive end-to-end eClosing solution that delivers substantially faster closings, total data transparency, superior regulatory compliance and maximum process efficiency. 

The total eClosing solution is also seamlessly integrated into DocMagic's SmartCLOSE™ collaborative closing portal, offering a secure, centralized online environment for lenders, settlement providers and other parties to share, validate, audit, track and collaborate on documents, data and fees backed with a 100% TRID compliance guarantee. The new process is easily accessible from within SaaS-based SmartCLOSE™ and on-premise SmartSAFE XL™ systems, including the eSigning, eDelivery and eVaulting of all documents.

DocMagic's eMortgage solutions have been vetted and approved by Fannie Mae and MERS to support all three eMortgage categories for eVault, eNote and eClosing. DocMagic's participation as a leading player in numerous eClosing pilots, including the CFPB's eClosing Pilot initiative last spring has led to the rapid advancement of eClosing adoption as a solution for regulatory compliance tracking, reducing data errors, data transparency, and bringing borrower knowledge and satisfaction to the loan process. 

"The total eClosing solution is an out-of-the box, easy to implement, fully paperless, patented solution that combines the most advanced functionality and continuous compliance tracking with robust borrower and lender friendly user features," said Dominic Iannitti, president and CEO of DocMagic. "Borrowers can communicate with their lenders and settlement agents and eSign documents while DocMagic runs continuous automated compliance audits throughout the entire loan process, guaranteeing compliance on factors effecting the salability of your loan, from TRID tolerance levels to compliance with anti-predatory lending and higher-priced mortgage loan laws, all while tracking every iteration of the data and speeding up the closing process." 

"The DocMagic total eClosing solution is revolutionizing the traditional paper mortgage process and the timing of this couldn't be better," says Tim Anderson, director of eServices at DocMagic. "With the electronic data verification, delivery and record retention requirements of TRID, lenders have to demonstrate proof of compliance, control and accountability of the entire mortgage process. We have developed only platform in the industry that integrates and supports all key eMortgage functions within a single solution. The total eClosing solution provides a full electronic process in a one stop solution - which is truly revolutionary."

The successful launch of DocMagic's total eClosing solution as well as other recent innovations will be celebrated at the MBA Technology Conference & Expo at the company's 'Futurescape' event on Monday, April 4, 2016, at 6 p.m. at The Conga Room inside LA Live.

Interested parties can learn more about DocMagic's new eClosing solution by calling (800) 204-4255 or emailing sales@docmagic.com. 

About DocMagic:
DocMagic, Inc. is the 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:
Deal Represents Powerful Marriage of SaaS and On-Premise Technologies and Lays Foundation for True eMortgage

TORRANCE, Calif., Sept. 22, 2015 (SEND2PRESS NEWSWIRE) --DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that Mid America Mortgage, Inc. will utilize DocMagic's SaaS-based compliance and mortgage loan document engine together with the on-premise solutions of DocMagic's recently acquired eSignSystems patented eSigning, eNotary, eVaulting, eRegistration and eRetention solutions.

This is the first time since the acquisition of eSignSystems in October, 2014 that the combination of technologies will be jointly utilized to facilitate a complete eClosing and validate DocMagic's eMortgage model.

"We made the decision to sign with DocMagic and its subsidiary division eSignSystems because of the unique capabilities of the combined technology components, together with the most powerful eMortgage reputation and expertise in the industry," said Jeff Bode, president of Mid America Mortgage. "The blend of these technologies integrated with our loan origination system (LOS), Mortgage Machine, establishes the path for us to close our loans electronically. DocMagic's solutions are ready today for eClosing, and now that the GSE's are accepting eNotes, their advance readiness for electronic closings is critical to Mid America's short and long-term eStrategy."

"The marriage of our SaaS and on-premise solutions delivers a unique value proposition for Mid America," said Dominic Iannitti, president and CEO of DocMagic. "DocMagic's SaaS model compliantly delivers dynamic, intelligent, data-driven loan documents and disclosures with a full eClosing for borrowers. eSignSystems' on-premise platform provides Mid America with internal controls and tools to configure the solution to their specific business processes and the ability to efficiently work with third parties to achieve an eMortgage." 

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 constantly monitor legal and regulatory changes at the state, federal and international levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.

About eSignSystems:
eSignSystems, a division of DocMagic, Inc., is a leading provider of lifecycle management of electronically signed, legally binding documents, contracts and digital transactions. SmartSAFE XL™ enables companies to manage business processes and transactions entirely online. Organizations can adhere better to 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 http://www.esignsystems.com/. 

About Mid America:
Additional information about Mid America Mortgage, Inc. can be found on the company's website at http://www.midamericamortgage.com/about/. 

Press Release:
Major partnership enables DocMagic to compliantly process a fully paperless, true mortgage eClosing - from start to finish

TORRANCE, Calif., March 10, 2015 - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that it formed an exclusive strategic alliance with World Wide Notary, Inc. (WWN), a pioneering developer of electronic notarization services. The partnership integrates WWN's patent pending DigaSign eNotary technology into DocMagic's eServices platform to deliver a fully paperless eClosing solution.

The solution allows borrowers, lenders, settlement agents and mobile notaries to eSign documents and eNotarize - both online and offline. As a result, the entire closing process is streamlined, paper is eliminated, costs are reduced and compliance is ensured.

"The addition of WWN's advanced eNotary capability adds significant value to our platform by keeping mortgage closing documents 100 percent paperless from eDisclosure to eClosing," said Dominic Iannitti, president and CEO of DocMagic. "DocMagic has systematically been putting the necessary pieces in place to transform the company into a true end-to-end eServices solutions provider. Our exclusive arrangement with WWN incorporates a critical component: compliant eNotarizations. Without compliant eNotary capability, a fully paperless eClosing would be impossible to achieve."

WWN is one of the most dominant eNotarization companies and has long been at the forefront of educating and lobbying the state Attorneys General and Secretaries of State to accept eNotaries in a variety of different industries. The company's technology has been certified by multiple Secretaries of State under the National Association of Secretaries of State (NASS) eNotary standards; and, in all states that have approved the Uniform Electronic Transactions Act (UETA).

A number of efficiencies accompany WWN's DigaSign eNotary technology that includes dramatically speeding up the notary process on mortgage documents, with Internet connection or without, ensuring strict compliance adherence is met, establishing detailed audit trails, reducing errors, slashing processing costs, reducing risk, and enhancing the overall borrower closing experience. The solution centralizes and streamlines the entire eNotarization process.

"DocMagic is the leading loan document preparation software company in the mortgage industry and an ideal partner to marry our technologies," said Bob Rice, CEO of WWN. "To date, most eClosings have just been hybrids, meaning: a majority of the lender documents could be eSigned, but those that require a notaries' signature and seal had to be printed to paper and ink signed. Together, our technologies eliminate that hard stop in the process and allow borrowers to effortlessly eSign mortgage documents, now including those that require the presence of a notary."

Under the agreement, DocMagic has exclusive rights to utilize WWN's eNotary platform within the mortgage industry for an extended period of time. The two companies have already begun introducing the service to clients.

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 constantly 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/.

About World Wide Notary:
Based in Vernon, Texas and founded in 2003, World Wide Notary (WWN) has developed DigaSign, an innovative, simple, Internet-based service that expedites the signing and/or notarization of documents by utilizing electronic and digital signatures and electronic notarizations. WWN completed the first fully electronic, mortgage closing in California in 2008 and the first electronic real estate closing in Texas in 2004. Pioneering electronic signatures, as early as 1996, WWN's management team has many years of experience working with stringent Federal mandates, such as HIPAA, E-SIGN and UETA regarding security and the use of electronic and digital signatures. Visit the company's website for more information http://www.wwnotary.com/.