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Mon, 05/31/1999

June, 1999 - Document imaging, everybody wants it but nobody knows how to afford it or what to do with it. But now DocMagic provides it free of charge, forever changing the way mortgage lending is documented.

Imaging turns paper documents into digital files, making them far more versatile, accessible and economical than traditional mortgage forms. It's like photocopying, but without the paper.

Instead, a scanner reads a barcode imprinted on each document page, allowing it to be quality controlled, tracked, sorted and filed from a desktop computer, largely eliminating the need for human handling. It's an exceptional work-flow tool.

DocMagic is the country's largest and most technologically advanced document company. We have taken what used to be a slow, paper and labor-intensive process, and automated it to the point where we can produce a complete set of error-free documents, printed or otherwise, in as little as 30 seconds.

Although we are the first document preparers to offer it, imaging technology has been around for a while, but the price for the system and the manpower to operate it have been prohibitive.

DocMagic7.0 for Windows has the imaging technology built right in and people can't believe we're giving it away! Some say the fact that it's free is a revolutionary as the software itself.

Actually, we think this software takes a giant step into the future of mortgage banking.

Since the beginning of time, lenders have been storing documents in file boxes that usually wind up in a warehouse. To retrieve a document requires a good deal of time and expense.

But now that they can be digitally imaged, a set of paper documents can go into that box and never come out again. In fact, paper doesn't have to exist at all until it's actually needed.

The ultimate goal is to eliminate paper from the mortgage lending process.

7.0. for Windows also contains even further upgrades to our famous Goof Proof Audit System, already the most effective and sophisticated error checking system in mortgage banking.

With DocMagic, garbage in, garbage out doesn't apply, because the system simply won't let you make a mistake.

Take compliance issues. Every state, jurisdiction and loan product asks for different information, so if quality control is done by hand, errors are almost sure to happen.

But our Goof Proof Audit System contains a huge compliance database that is updated daily. So, an oddball loan in a part of the country where you've never done business will be just as perfect as the loan you make every day.

Clients tell us that's why our documents are the most trusted in the industry.

There's still another nice thing if you're connected directly to the internet: a NetMagic module that bypasses modems and ISPs to cut downloading time in half. That means instant access, even while your internet line is being used for other purposes.

In fact, speed is our cachet. DocMagic for Windows can process and return a complete loan document package in as little as 30 seconds.

And our highly evolved technology allows us to transmit documents by fax, modem or email, leave them for pickup on the web or create a print-ready file and send it anywhere you'd like.

- Iannitti is president of Document Systems Inc.