Carson, Calif., Feb. 23, 2004 - Document Systems, Inc. (DSI), a developer of software, tools and Web-based systems for the production of compliant loan document packages, and Franklin, Tenn.-based Integra Software Systems, a loan origination software (LOS) provider for the mortgage industry, today announced the successful completion of an interface between Integra's Destiny loan processing software system and DSI's DocMagic® document preparation system. The interface is being utilized by a number of existing Destiny clients and is available to all Destiny users.
Through DocMagic Direct, Destiny users can seamlessly connect with DocMagic servers, which are located at DSI's headquarters, allowing them to post a MISMO-standard XML file and have their documents instantly returned. Because little or no software needs to be installed, Integra customers can easily process mortgage documents through a simple mouse click in the Destiny system. Using the DocMagic Direct interface, Destiny clients will receive error-free documents, Section 32 and state-specific predatory lending determinations, APR and amortization computations, and have access to more than 35,000 loan programs developed for more than 1,000 lenders nationwide.
"One of the goals for our Integra Destiny LOS implementation was to have the ability to keep all the information about a particular loan in the Destiny database," said Dan Jones, director of Information Technology for Churchill Mortgage Corporation. "Most importantly, since the integration between DocMagic and Destiny LOS is direct, it eliminates the need for manually exporting and importing data into another program where it then has to be modified again to achieve the final results. This integration allows us to achieve our goal and maintain the integrity of the data in one place".
Since DSI works directly with the investor to ensure their requirements are satisfied, all document packages created through Destiny using the DocMagic Direct interface have the ability to be customized. DSI's legal counsel, compliance managers and investor specialists ensure all documents are in compliance and meet the specific requirements of each jurisdiction in the United States. DSI's compliance and legal team bolsters its document creation capabilities and enables the company to have all components of compliant, automated mortgage lending solutions, all under one roof.
DocMagic Direct eliminates the need for Destiny users to maintain additional software, endure the time-consuming document installation process, data mapping complications and the need for data re-entry. With the push of a button, document processing can begin immediately.
"Document Systems has one of the most extensive libraries of customizable documents that are accepted by the mortgage industry," said Tim Bartek, senior vice president of Sales and Marketing at Integra Software Systems. "Our relationship with DSI gives us access to all of these documents, which saves us a tremendous amount of time and money and working with a company with the level of expertise that DSI possesses makes our job much easier from an implementation standpoint."
"Our DocMagic Direct solution will help Integra's users increase their lending volume by giving them the functionality to quickly and cost-effectively create loan documents, as well as eliminate the existing burden of developing and managing their own forms," said Don Iannitti, president and CEO of Document Systems, Inc. "Our relationship with Integra Software Systems will also help broaden our presence in the mortgage industry by increasing the number of brokers and lenders using DocMagic forms."
About Integra Software Systems
Franklin, Tenn.-based Integra Software Systems was founded in 1996 to provide the mortgage industry with a comprehensive mortgage loan origination system (LOS) that is easy to implement, customizable to meet customers' needs and reliable. Integra's LOS, Destiny, is a point-of-sale through post-closing and secondary marketing software for lenders interested in efficiencies gained from automating every step of the mortgage loan workflow. For additional information about Integra, visit the company's Web site at www.integra-online.com.
About Document Systems, Inc.
Founded in 1988 and headquartered in Carson, Calif., Document Systems, Inc., is a mortgage technology company that develops software, processes and web-based systems for the production of compliant loan document packages. Along with its loan document production system, DocMagic®, DSI provides legal expertise regarding the completion of all applicable forms, and both guarantees and warrants that all agency forms are up-to-date and in compliance with GSE requirements. DSI's staff includes a team of compliance experts that constantly monitor legal and regulatory changes at federal and state levels to ensure accuracy. DSI is the first company in the mortgage industry to develop a fully integrated mortgage customer contact management system, LoanMagic™, that is specifically designed to meet the needs of loan officers to help streamline the tasks involved with acquiring leads, managing contacts and gathering all personal and credit information necessary to secure a loan. For more information on DSI, visit the company's Web site at www.docmagic.com.