Reprinted from the July 2005 issue of Scotsman Guide Residential Edition, with permission from Scotsman Publishing, Inc.

In most businesses, the key to success lies in getting repeat business from your customers and from the new customers these satisfied patrons refer. In the mortgage business, repeat business accounts for less than 10 percent of the loans the average lender writes - a statistic guaranteed to strike fear into the hearts of even the most stalwart marketing executives.

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This month, we added information regarding the New Jersey Home Ownership Security Act of 2002. Please visit our High Cost/Predatory Lending page to review this and the other high-cost memos that have already been posted on the Compliance page of our website.

There is now a memo posted online describing how DocMagic performs its high cost calculations for all states that have some form of predatory/high cost statute or regulation in effect. These states are (some of the memos must be updated to reflect recent upgrades to the DocMagic software products):

Due to customer requests, the DocMagic Corporate Assignment forms have been updated to include the following verbiage above the signature lines: "The original principal amount due under this note(s) is $[loan amount]." This language appears above the signature lines.

This month DSI posts loan programs of Residential Funding Corporation, New Century, and Encore Credit Corporation on its Investor Updates page. Find out the description of each investor's loan program, which promissory notes, prepayment riders and addenda are used, and what the rate caps and interest-only periods are for variable rate loans. Visit our Investor Updates page next month to see other investors' loan programs.

Countrywide has updated all of their HELOC agreements, as follows:

In Part I and Part II of my interview with Don Iannitti, President and CEO of Document Systems, Inc. (DSI), we learned about the impetus behind the birth of DocMagic and the technology that revolutionized an industry. In this final part of my interview, Don talks about the concept that guides his company.

Are you tired of re-keying loan information to register your loan with MERS when using the DocMagic Online (DMO) software? With DMO's current Release Version 3.30, a solution is immediately available to you. DocMagic and MERS now have an XML interface, enabling the DMO user to register a loan directly with MERS by selecting "Register MERS Loan" in the Document Processing Screen of DMO. No additional inputting is required. Like magic, loan-specific information is automatically transferred to MERS through DMO, ensuring accuracy of the MERS-specific information and enhancing efficiency with document preparation.

Document Systems, Inc. ("DSI") is always looking for ways to improve service and security for our DocMagic customers. With this in mind, two new features have been added for customers that Leave Documents for Web (Internet) Pickup or E-mail [documents] to another location. The new options are located in the Security section of the Document Processing Options screen (see below).

In order to keep DocMagic software users better apprised of document changes and additions as they occur, DSI posts listings of all newly created and revised documents. Here is the list of forms created or modified in March, 2006.