Total eClose - Borrower's Journey Product Training

 

 

Click on this sentence to access a tutorial link that you can directly send to your borrowers.

 

DocMagic's Customer Signing Experience offers borrowers a user-friendly platform to electronically read and review documents prior to execution. It’s an easy and intuitive eSign process for desktop, tablet, or mobile.

Click on the download button for an in-depth PDF Guide designed to provide you with step-by-step instructions for navigating Total eClose - Borrower's Journey.
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User Accounts Product Training

 

Part of the Account Settings in your dashboard on DocMagic.com, the Users tab lets you set up and manage user accounts and permissions for any member of your team.

 

**Need to update your password? Click here.**

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Plan Manager Product Training

 

Part of the Account Settings in your dashboard on DocMagic.com, the Plan Manager tab gives you the ability to manage loan programs for your account. Choose, add or delete programs to your program list so you can access them when processing a package.

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Lender Profile Product Training

 

Part of the Account Settings in your dashboard on DocMagic.com, the Lender Profile tab allows you to manage your company and contact information. You can assign Beneficiaries, Loss Payees, Trustees, input licensing and Identifications and UCD Provider Credentials.

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DMO Lender Profile Product Training

DocMagic’s Online solution sets a high bar for online data collection, compliance, eSignature services and eClosings.

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SmartClose Product Training

 

SmartCLOSE solves many of the key challenges between lenders and settlement providers with a seamless, bi-directional exchange of data and related information. All relevant parties communicate inside a secure environment during the closing process, offering a true collaborative process.

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LoanProducer Product Training

 

Loan Producer is one of many LOS systems that works seamlessly with DocMagic’s exclusive, proprietary DocMagic Direct integration.

 

Don't get charged multiple times for the same package. Click here.

Click on the download button for an in-depth PDF Guide designed to provide you with step-by-step instructions for navigating LoanProducer.
If you have any further questions, you can download the FAQ Page. This LoanProducer at-a-glance provides you with answers to many common questions about LoanProducer.
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LoanMagic Product Training

 

Borrowers deserve an easy, convenient loan process... free from the hassle of paper, faxes, emails etc. LoanMagic™ for Borrowers is an application for smartphone or tablet that dramatically reduces the time it takes to process mortgage loans.

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eVault Product Training

 

 

Whether you need short or long term storage, implementing a secure eVault solution offers real-time control of your electronic loan files, reducing cycle times and increasing process efficiencies throughout the entire mortgage lifecycle. Long-term storage of the authoritative copy in our secure, certified eVault.

Click on the download button for an in-depth PDF Guide designed to provide you with step-by-step instructions for navigating eVault.
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FHA publishes notice of proposed rulemaking regarding LIBOR transition

On Oct. 5, 2021, the Department of Housing and Urban Development (“HUD”) published an advance notice of proposed rulemaking (“ANPR”) in the Federal Register titled “Adjustable Rate Mortgages: Transitioning from LIBOR to Alternate Indices.”   Loans Concept. Word on Folder Register of Card Index. Selective Focus.-1In the ANPR, HUD is requesting public comment regarding the transition away from the London Interbank Offered Rate (“LIBOR”) index. Most Federal Housing Administration (“FHA”) adjustable-rate mortgages (ARMs) currently use the LIBOR index, which is set to be phased out. The Intercontinental Exchange Benchmark Association has announced that the one-week and two-month U.S. dollar LIBOR settings will cease to be published after Dec. 31, 2021 and the overnight, one-, three-, six-, and 12-month U.S. dollar LIBOR settings will only be available through June 30, 2023, and only for transition purposes. 

All ARM loans insured by the FHA must have a specified interest rate index that is approved in regulations by the Secretary of HUD. In 2007, HUD approved the LIBOR index along with the Constant Maturity Treasury (“CMT”). As the LIBOR index is set to be phased out, the FHA is considering the Secured Overnight Financing Rate (“SOFR”) index as its replacement for existing loans and new loans. HUD notes that SOFR has a compatible spread adjustment which should minimize the impact of a replacement index for legacy loans. The proposed rule will also include a transition date consistent with the cessation of the LIBOR index.

Comments may be submitted by mail or through the Federal Rulemaking Portal at www.regulations.gov and are due by Dec. 6, 2021.

If you have any questions regarding this article, please contact DocMagic’s Compliance Department.

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