We are certainly in the midst of trying and challenging times.  The financial crisis that has affected the mortgage industry has permeated many other markets domestically and globally.  A handful of document preparation companies have been acquired by others or have gone out of business.  Most recently, Ellie Mae, Inc. purchased the assets of Online Documents, Inc. and Document Processing Systems, Inc. ("DPS") closed its doors. 

In case any of our valued customers are concerned that DocMagic, Inc. ("DSI") could fall victim to this situation, I assure you that DSI is here to stay for a very long time.

Although it would be disingenuous to imply that business has not been impacted, we remain strong financially and have no plans to sell our DocMagic and LoanMagic business units.  Moreover, new customers continue to join our DSI family on a daily basis and while many in our industry have downsized, we continue to invest heavily in human resources, technology and compliance. 

What I mentioned in my holiday message in 2007 still holds true:

". . . many in our industry are fearful of the many changes that we all expect to see in 2008.  I simply don't share in the pessimism that seems so prevalent today.  Next year will be challenging, but talent and passion will always overcome adversity.  My New Year's wish is that you, like our team at DSI, will be up to the challenge, whatever the future may bring."

It is hard to predict how long these difficult times will last.  But, one thing is for certain -- DocMagic will be perfectly poised when banks and mortgage companies are ready and borrowers are no longer afraid to purchase their dream home or invest in a vacation home or rental property.  Meanwhile, we stand ready to provide you with the best customer service possible as you use our DocMagic and LoanMagic products.  Thank you for your continued support and confidence in DSI.