TORRANCE and SAN FRANCISCO, Calif., Nov. 14, 2023—DocMagic, Inc., a leading provider of compliant loan document generation, automated regulatory compliance, and comprehensive eMortgage services, has partnered with Vesta, a new and innovative mortgage loan origination system (LOS) and software-as-a-service (SaaS) company, to provide shared clients with automated document generation and automated regulatory compliance during the mortgage origination and closing process.
Dominic Iannitti, president and CEO of DocMagic, stated, "DocMagic is thrilled to announce its integration with Vesta's LOS, which will empower our lender clients with the potent benefits of digital lending automation throughout the entire loan lifecycle. Both of our solutions are thoughtfully designed as SaaS models and were purposefully crafted for exceptional flexibility, customizability, and cost-efficiency. This aligns perfectly with our common objective of minimizing origination and closing costs."
The companies’ newly integrated systems streamline the mortgage document generation and closing processes, ensuring compliance, and delivering an enhanced customer experience while reducing costs. The flexible APIs DocMagic and Vesta offer allow lenders to integrate tightly with many data points, thus minimizing manual tasks. This results in faster document processing, a paperless process, improved data integrity, and the elimination of errors that could lead to non-compliance. As both companies continue to release next-generation solutions, the partnership will only deepen.
Mike Yu, CEO of Vesta, added, "We are thrilled to be partnering with DocMagic to seamlessly deliver a comprehensive and compliant document generation and eclosing experience. We firmly believe that this integration will not only create a more streamlined origination process but also enhance the overall experience for lenders and borrowers alike."
Through DocMagic, lender clients using the Vesta LOS will benefit from increased workflow automation and compliance with dynamic state and county-level regulations. Additionally, through Vesta's LOS, users can seamlessly initiate document generation and automate compliance-intensive tasks. This interface focuses on total workflow automation, creating a smoother and more efficient lending experience for borrowers.
Vesta's next-generation LOS is designed to support digital automation for the entire origination process, catering to lenders of all sizes and enhancing the mortgage financing experience for borrowers. The platform's no-code workflow creation model and flexible decision-making engine empower lenders to configure their own business logic directly within a user-friendly web application, reducing the need for costly developer resources.
Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. is a leading provider of compliant document generation, automated compliance, eSignature, and comprehensive eMortgage solutions for the mortgage industry. The company's solutions facilitate precision-based digital lending transactions, connecting industry participants and ensuring data integrity. With in-house compliance experts and legal staff, DocMagic monitors legal and regulatory changes at both federal and state levels. For more information on DocMagic, visit https://www.docmagic.com/.
Vesta is a SaaS provider of mortgage loan origination software, offering lenders a modern system of record, customizable workflows for the entire mortgage loan fulfillment process, and open, cloud-based APIs. The company, founded in 2020 by early Blend employees Mike Yu and Devon Yang, has received support from investors including Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures, and Zigg Capital. For more information, visit: www.vesta.com or Vesta's LinkedIn.