CARSON CA, February 2000 - With the Internet quickly becoming the data transfer vehicle of choice, one document preparation company is already well established in the high speed processing and delivery of closing loan document packages. Document Systems, Inc, developer of industry leading DocMagic software, was first with the capability to process a set of documents and return them to the originator in one continuous loop, via the Internet.
With the release of DocMagic Version 7.0 for Windows, the company now offers mortgage banking's most sophisticated system for the processing and distribution of loan documents. Leveraging the speed and ease of the Internet, DocMagic can now put a complete set of error-free documents directly into the right hands immediately. According to DSI President Don Iannitti, the company keeps tightening the loop between data transmission, processing and delivery. "From the point the broker sends us the data to the point where we email to the recipient can be as little as 20 seconds, depending on the originators modem, phone line and internet capabilities."
This lightening fast process is in large part, made possible by DSI's NetMagic communications software, a component of DocMagic for Windows. Additionally, every set of documents is transmitted with a sub-program called DocMaster. The DocMaster module makes it possible for the receiver (with or without DocMagic software) to check documents on the screen as a tiff image and make last minute revisions before printing. "Before DocMaster a small modification could cause an entire package to be reprinted" Iannitti added.
The company offers other cyber-based delivery options, as well. A broker can post a set of documents to DSI's website for pick up by any third party. The recipient simply accesses the DSI website, presents a password and downloads the file.
As an alternative, packages can be faxed, free of headers and footers to multiple locations, processed in-house by DSI and delivered by conventional means anywhere overnight. But as more and more clients come on-line the traditional methods of delivery are used less and less. Iannitti continued, "Our full range of document delivery options provides unlimited flexibility for originators, lenders, closing agents and everyone else involved in the loan closing process."
The Internet also facilitates the up-to-the minute information flow vital to DocMagic's famous Goof-Proof Audit System, which tracks changes in state regulatory laws and scores of federal programs. DSI downloads billions of bits of data every day and then updates each client automatically as soon as they log on or connect to DSI with their modem. Iannitti said that "Its easy to see why the mortgage industry is increasingly turning to the Internet and doc magic for speed and flexibility. He concluded," With DocMagic, creating loan documents is the quickest, most reliable and cost effective part of the entire mortgage lending process".
DSI is the nation's largest and most technologically advanced loan document production company. Founded in 1988, this Southern California firm has grown to dominate the mortgage banking industry, holding a market share equal to all other document preparation companies combined.
DocMagic Version 7.0 for Windows is available FREE with unlimited technical assistance. There are no set-up fees or monthly volume requirements and a complete set of documents costs only $35.
For more information or an installation disk, call (800) 649-1362.