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DocMagic Develops an Extensive Set of New Representations and Warranties

Mon, 02/29/2016

...In February, DocMagic Inc. said it developed an extensive set of new representations and warranties for its calculations, documents and data to provide peace of mind to lenders on TRID compliance. 

The Premium Compliance Guaranty promises timely electronic delivery of initial disclosures and accurate and complete Loan Estimates and Closing Disclosures.

"Additionally, the Premium Compliance Guarantee ensures timely electronic delivery of initial disclosures, compliance with federal and state high cost/HPML laws and accurate document selection logic resulting in compliant loan packages," DocMagic stated. "The Guarantee also ensures that all other compliance and data validation audits will trigger at the appropriate times during the loan process, providing critical warning messages to help lenders stay in compliance with applicable laws."...

As featured by Mortgage Daily, March 2016