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Sat, 07/31/1999

CARSON CA, August 1999 - Underwriting says, "No remaining pre-doc conditions," So you lock your rate, order your documents and wait a day or two to get them. Or you can go online with DocMagic, order, and print your docs in minutes. Which do you prefer? Gaining control over so important an area as when docs are ready helps close more loans.

With DocMagic Version 4.0, a product of Document Systems, Inc. (DSI), you fill out a work sheet screen answering questions about the borrower, loan terms, property address, and related areas. Depending on which processing software you use, much of this can simply be transferred directly between programs, saving time and improving accuracy.

Next, you can print a proof sheet. It's easier to check things on paper instead of just screen images. This especially helps with names, addresses and any other information the computer can't verify for you.

When you're done, DocMagic audits your work to verify all is correct and complete. Naturally, the audit function follows the "Garbage In, Garbage Out" rule. If you enter data for the wrong borrower or use a wrong property address, it can't help you. But it checks nearly everything else, especially escrow account rules and Section 32 loan rules, preventing potentially costly errors. DSI will gladly customize the audit process to include any special requirements you may have.

Whatever it finds, a window pops up with a list of warnings and "fatal errors" discovered. Click on an error and the program jumps you right to the problem. When corrected, the list updates automatically. You can't order documents until you've fixed all errors, but why would you want to anyway?

You can temporarily escape the correction process, file your work sheet and come back to it later. This is helpful if you need data from someone else or simply have other work to do before you can complete all corrections.

Once you've convinced the program you know what you're doing, click "Send work sheet to DSI." In a few seconds, their computer puts everything in the right place and sends the document file to your computer for printing. Send single or multiple orders on the same correction.

Print all or any of the documents for your loan on your laser printer, as many times as you need. Depending on which printer you have, there may be special fonts to download. It takes just a few seconds and you only do this once unless you turn off the printer or it loses power. The program warns you if fonts haven't been run during your current session. But if you print anyway, the worst thing that will happen is you may have to print some of the forms over again.

There are two other print options. You can print to remote sites such as branch offices, escrow offices or correspondent offices. Or using DSI's QualiFAX system, you can electronically deliver laser-perfect documents any time, anywhere, almost instantly.

All document maintenance is handled for you by Document Systems. Each time you connect, their computer automatically makes certain you have the latest version so what you print and what your lender expects to receive always match.

They maintain hundreds of loan programs for various lenders within DocMagic. If you need some special forms, they'll add them for you. You can also select the document print order. If you have a single tray printer for example, you'll want to print all same size documents together. Just call DSI and they'll take care of it while you're on the phone. Customer service is a very strong point.

DocMagic does the job very well. It is network capable, lets you back up for the security and long term storage and offers password protection. There's a training mode so you can prepare and print a full sample doc set. There's no charge for samples.

If you're running under Windows 3.xx, there may be some technical problems because DocMagic requires a lot of free lower memory and you may need to do some system level memory management. It should only be a one-time event and their technical staff will help you. If you're running Windows 95, NT or OS/2, this shouldn't be a problem. Or you could put the program on a DOS computer in your network.

Research and development is constant, providing upgrades and new features frequently, automatically and free to you. The next version promises bbarcodingfor easier tracking and a document image viewer so you can see any or all documents in the set prior to printing.

The program is free and available in all 50 states. You pay only for the doc sets you order. Several of their nearly 200 lenders provide a custom version of the software to their brokers. Otherwise, you can get a copy directly from DSI by mail, from their Bulletin Board System, or through America On-Line.

For more information on DocMagic contact Document Systems, Inc., 20501 South Avalon, Suite B, Carson, CA 90746, (800) 649-1362 or by Fax: (800) 564-1362.

Be sure to tell them you saw it in Mortgage Originator. That's all until next month.

- BRUCE FORGE
Is president of Citywide
Mortgage, Tustin, CA