Join DocMagic's Compliance Edge™ for a FREE Webinar!

TRID: The Basics

This webinar is the first in our series focused on the TILA-RESPA Integrated Disclosure (TRID) Rule. Our goal is to help you with answers to the compliance questions you’ll be asking as you prepare for TRID reform on August 1, 2015.

DocMagic’s Chief Compliance Officer, Gavin T. Ales, will clarify the fundamental requirements surrounding the new regulations.

Build your fundamental knowledge:
■ Loans which are covered by the TRID Rule
■ New definitions explained
■ The Loan Estimate/Closing Disclosure in detail
■ Timing & tolerance requirements

Mark Your Calendars!

MBA's National Technology in Mortgage Banking Conference
March 29 - April 1 | Hyatt Regency Orlando

We’re excited to attend the MBA's National Technology in Mortgage Banking Conference & Expo on March 29-April 1. Stop by booth #307 to catch up on the latest Mobile Technology, Integrated Disclosure implementation and new Collaborative Closing Solution. We’re always ready to demonstrate our end-to-end loan document preparation, compliance, and eDelivery solutions for the Mortgage Industry. See you there! Meet us at the conference. Schedule a meeting now!

Our Latest Magic!

BorrowerMobile
A visionary mobile application for tablets and smart phones provides all of the features your Borrowers need to keep their finger on the pulse of their loan status.

Integrated Disclosures
Let us show you what we’re doing to prepare for the Integrated Disclosure Rule. Learn about our targeted testing and grab an implementation timeline.

Collaborative Closing Solution
We bring lenders and settlement providers together inside our new collaborative closing platform to exchange data prior to closing.

Meet us at the conference. Schedule a meeting now!

TORRANCE, Calif., March 20, 2015—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that its director of eServices, Tim Anderson, will be moderating a key panel session at the annual Mortgage Bankers Technology Conference on the topic of what automated Electronic Processes look like. The panel will be held on March 30, 2015 from 3:00 p.m. – 4:15 p.m.

This panel is comprised of leading industry experts who will provide their perspective and expert advice on eDisclosures and eClosings, among other eServices topics. The session is designed to help industry participants gain a better understanding of these trends and impacts. There are many questions around “e-everything,” says the MBA. Attendees of the session will leave with a solid grasp on how to electronically and compliantly connect with consumers and trading partners.

Moderator:
Tim Anderson
Director of eServices
DocMagic, Inc.

Speakers:
Mike Cafferky
eMortgage Program Manager
Fannie Mae

Katie Paolangeli
Director of eCommerce and Industry Initiatives
MERSCORP Holdings, Inc.

Session Information:
Title: What Does an Electronic Process Really Look Like?
Date: Monday, March 30, 2015
Time: 3:00 p.m. - 4:15 p.m.
Location: Learning Labs, Orlando

About DocMagic
DocMagic, Inc. is a leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company’s compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.

Press Release:
TORRANCE, Calif., March 17, 2015 (SEND2PRESS NEWSWIRE) --DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that HousingWire magazine designated the company to its 2015 HW TECH100(TM) list. The list honors the 100 most innovative technology companies serving the U.S. mortgage finance and real estate industries.

HousingWire states that more than 250 companies were evaluated by HousingWire editors for the 2015 program, which looks at technology innovation along six different categories: uniqueness of solution, growth, market influence, market potential, elegance of implementation, and "something else entirely" -- a catch-all for disruption and other factors that drive innovation.

"This year we were struck by the level of innovation we saw, with 40 new additions to the HW TECH100," stated Jacob Gaffney, executive editor at HousingWire. "That speaks to how much change is taking place in the mortgage industry overall right now; we're seeing a lot of market disruption, and technology providers are clearly taking advantage of the opportunity that creates."

DocMagic has grown at an enviable rate over the past year, adding new staff, signing marquee clients, acquiring eSignSystems and Doc-Tech Corporation, and working closely with the Consumer Financial Protection Bureau (CFPB) on its eClosing pilot program, among other significant projects.

The company's future growth plans are aggressive. They include penetrating new markets, developing into a single-source eServices provider that is the nucleus of the eMortgage process, and continuing to guide the mortgage industry to adopt paperless origination and closing processes.

"We've had some major accomplishments and company milestones in the last year and are pleased that the editorial team at HousingWire has recognized our innovations and industry contributions," said Dominic Iannitti, president and CEO of DocMagic. "Making the HW TECH100 list is the direct result of the amazing people we have working for us, their passion for and commitment to developing leading technology solutions and providing unparalleled customer support."

About DocMagic: DocMagic, Inc. is a leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.

About HousingWire: HousingWire is the nation's most influential industry news source covering the U.S. housing economy, spanning residential mortgage lending, servicing, investments and real estate operations. Winner of numerous awards, including a 2012 Eddie Award for national editorial excellence in the B2B Banking/Business/Finance category, HousingWire has been recognized for excellence in journalism by the Society of Business Editors and Writers, the American Society of Business Press Editors, the National Association of Real Estate Editors, and Trade Association Business Publications International. Learn more at http://www.housingwire.com/.

About the HW TECH100: The HW TECH100(TM) highlights the housing economy's 100 most innovative technology companies, along six unique dimensions of innovation. The annual awards program is the only program of its kind to include technology serving both the U.S. residential real estate and U.S. residential mortgage industries. Learn more at http://tech100.housingwire.com/.

Press Release:
Major partnership enables DocMagic to compliantly process a fully paperless, true mortgage eClosing - from start to finish

TORRANCE, Calif., March 10, 2015 - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that it formed an exclusive strategic alliance with World Wide Notary, Inc. (WWN), a pioneering developer of electronic notarization services. The partnership integrates WWN's patent pending DigaSign eNotary technology into DocMagic's eServices platform to deliver a fully paperless eClosing solution.

The solution allows borrowers, lenders, settlement agents and mobile notaries to eSign documents and eNotarize - both online and offline. As a result, the entire closing process is streamlined, paper is eliminated, costs are reduced and compliance is ensured.

"The addition of WWN's advanced eNotary capability adds significant value to our platform by keeping mortgage closing documents 100 percent paperless from eDisclosure to eClosing," said Dominic Iannitti, president and CEO of DocMagic. "DocMagic has systematically been putting the necessary pieces in place to transform the company into a true end-to-end eServices solutions provider. Our exclusive arrangement with WWN incorporates a critical component: compliant eNotarizations. Without compliant eNotary capability, a fully paperless eClosing would be impossible to achieve."

WWN is one of the most dominant eNotarization companies and has long been at the forefront of educating and lobbying the state Attorneys General and Secretaries of State to accept eNotaries in a variety of different industries. The company's technology has been certified by multiple Secretaries of State under the National Association of Secretaries of State (NASS) eNotary standards; and, in all states that have approved the Uniform Electronic Transactions Act (UETA).

A number of efficiencies accompany WWN's DigaSign eNotary technology that includes dramatically speeding up the notary process on mortgage documents, with Internet connection or without, ensuring strict compliance adherence is met, establishing detailed audit trails, reducing errors, slashing processing costs, reducing risk, and enhancing the overall borrower closing experience. The solution centralizes and streamlines the entire eNotarization process.

"DocMagic is the leading loan document preparation software company in the mortgage industry and an ideal partner to marry our technologies," said Bob Rice, CEO of WWN. "To date, most eClosings have just been hybrids, meaning: a majority of the lender documents could be eSigned, but those that require a notaries' signature and seal had to be printed to paper and ink signed. Together, our technologies eliminate that hard stop in the process and allow borrowers to effortlessly eSign mortgage documents, now including those that require the presence of a notary."

Under the agreement, DocMagic has exclusive rights to utilize WWN's eNotary platform within the mortgage industry for an extended period of time. The two companies have already begun introducing the service to clients.

About DocMagic:
DocMagic, Inc. is a leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.

About World Wide Notary:
Based in Vernon, Texas and founded in 2003, World Wide Notary (WWN) has developed DigaSign, an innovative, simple, Internet-based service that expedites the signing and/or notarization of documents by utilizing electronic and digital signatures and electronic notarizations. WWN completed the first fully electronic, mortgage closing in California in 2008 and the first electronic real estate closing in Texas in 2004. Pioneering electronic signatures, as early as 1996, WWN's management team has many years of experience working with stringent Federal mandates, such as HIPAA, E-SIGN and UETA regarding security and the use of electronic and digital signatures. Visit the company's website for more information http://www.wwnotary.com/.

Press Release:
Company joins select group of vendors that can use industry standard eNote registry

TORRANCE, Calif., Feb. 17, 2015 -- DocMagic, Inc., the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, announced that the firm has now completed its integration with the MERS® eRegistry, making it one of only a few industry vendors to integrate with the widely used system.

Launched in 2004, the MERS® eRegistry is the legal system of record that identifies the owner or holder (Controller) and custodian (Location) for registered eNotes and provides greater liquidity, transferability and security for lenders, according to MERSCORP Holdings, Inc. It was created in response to demand by the mortgage industry for a system to satisfy certain safe harbor requirements under the Uniform Electronic Transactions Act (UETA) from 1999, and the Electronic Signatures in Global and National Commerce Act (E-SIGN) from 2000.

"The MERS® eRegistry system excels at effectively handling a vital service for eMortgage originations," said Dominic Iannitti, president and CEO of DocMagic. "Fannie Mae and Freddie Mac both require use of the MERS® eRegistry for all eNotes they purchase. DocMagic's integration with MERS' system fulfills the GSEs' requirement and thus allows us to pass the benefits that the service offers along to our customers."

Using an eClosing platform such as DocMagic's eSign platform, the borrower simply signs the eNote, and the lender then immediately and efficiently registers it on the MERS® eRegistry, where it securely resides and can easily be referenced at any time. Thereafter, the lender is able to simply transfer control to investors.

Notable is that DocMagic's recent acquisition of eSignSystems, the mortgage industry's leader in eSign and eVaulting Solutions, also has MERS eRegistry connectivity through its SmartSAFE suite. SmartSAFE facilitates secure eDelivery, eSigning and eRetention with a legal "system of record," providing detailed audit trails from the beginning to the end of transactions.

About DocMagic:
DocMagic, Inc. is a leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy.

For more information on DocMagic, visit http://www.docmagic.com/.

Press Release:
Adherence to MISMO’s latest dataset helps prepare DocMagic for the CFPB’s Integrated Disclosure deadline

TORRANCE, Calif., Feb. 11, 2015 – DocMagic, Inc., the mortgage industry’s leader in compliant loan document preparation and driver of complete eMortgage adoption, announced that its entire solution set now adheres to version 3.3 of the Mortgage Industry Standards Maintenance Organization (MISMO) Reference Model.

The Consumer Financial Protection Bureau’s (CFPB) Integrated Disclosure Rule combines the mortgage disclosures required under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). It requires lenders to use the new integrated disclosures beginning on Aug. 1, 2015. Successful compliance with this rule depends on use of the latest version of the data standard.

Version 3.3 of MISMO establishes a common dataset that is essentially a prerequisite for lenders to use the CFPB’s new integrated disclosures and share the information about the disclosures with their industry partners. The CFPB's Integrated Disclosures will replace the current Good Faith Estimate (GFE) HUD-1 Settlement Statement, and Truth in Lending (TIL) disclosures for most residential mortgage loans as of Aug. 1, 2015. DocMagic is the first document preparation software vendor to implement MISMO version 3.3.

“Our early implementation of MISMO version 3.3 is significant because it is yet another step that we are taking to proactively prepare for the CFPB’s new Integrated Disclosure rule, as well as industry innovation involving the disclosures,” said Dominic Iannitti, president and CEO of DocMagic. “Any software provider that is involved in loan closings or data exchange must update their respective systems to implement the new dataset in order to effectively support their partners and lender clients. Those organizations that wait will likely not be ready to meet the CFPB’s deadline and as a result will encounter serious compliance issues.”

In March of 2014, the GSE’s introduced the Uniform Closing Dataset UCD, which is based on the MISMO v3.3 Reference Model standard used to support the Closing Disclosure under the CFPB’s new Integrated Disclosure rule. The Closing Disclosure is the form that combines the final TILA and HUD-1 Settlement Statement. As a result, closing documents will change significantly come Aug. 1, 2015. Lenders will be responsible for the Closing Disclosure and will need to automatically and seamlessly exchange the data from this disclosure with its settlement agents and other partners. DocMagic is ready to effectively and compliantly transition to this new disclosure for its entire customer base.

Other organizations that will be affected by the rollout of version 3.3 of MISMO, the GSE’s introduction of the UCD, and the CFPB’s rule include settlement software and loan origination system (LOS) providers, among others.

DocMagic’s early implementation of MISMO version 3.3 has allowed the company to already begin working on standardizing closing document forms for its clients and partners.

About DocMagic
DocMagic, Inc. is a leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company’s compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.

We have your mobile solution!

Join us on Wednesday, February 18th, 10:00 AM PT for a FREE webinar.
We'll show you how BorrowerMobile makes it easy for borrowers and lenders to interact, share information, and work together… with the touch of a finger!

Designed for your borrower’s tablet or smart phone, BorrowerMobile is a direct communication and delivery channel between you and your borrowers. The application allows you to quickly and easily clear loan conditions from anywhere! Borrowers can monitor their loan status in real-time, eSign disclosures, reach out to loan contacts, and schedule events during the loan process. Watch a short two-minute demonstration.

BorrowerMobile connects you to your borrowers instantly...
■ Helps you close more loans… and close them faster
■ Provides your borrower with real-time loan processing status
■ Securely delivers documents and disclosures to your borrower
■ Includes Tap-to-Sign electronic signature technology
■ Integrates easily with all leading loan origination systems

CLICK HERE TO JOIN THE FREE WEBINAR and learn how to mobilize your borrower's experience!

The new mortgage wave is now.

Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with Don Iannitti, president and CEO of DocMagic, to see how the company how the company thrived in 2014, along with its plans to grow in 2015.

HW: DocMagic has announced some key acquisitions in 2014, how are these coming along and where does the company plan to grow in 2015?

Iannitti: We made two outstanding acquisitions in 2014 that will have a significant impact on our business moving forward: eSignSystems and Doc-Tech Corp. Both were executed flawlessly and are integrating exceptionally well with the existing DocMagic family. While both acquisitions bring layers of new benefits and opportunities to DocMagic from an asset, customer and opportunity standpoint, I think that the best part of each of those deals is the incredibly talented people that we were able to bring on board. They have already added tremendous value to DocMagic and are both perfect fits within our corporate culture and level of commitment and intensity our organization has.

We also recently secured an exclusive agreement with a complementary technology vendor that we will be announcing shortly, which puts us in a unique position to achieve a 100% paperless eClosing. In addition, we will be evaluating other deals of interest throughout 2015 that add to our competitive advantage. With many of the new and constantly changing compliance rules that are being enacted, we see huge opportunity for us to serve as a single-source vendor for fully compliant, highly efficient eMortgage processing from end-to-end.

HW: The CFPB will again be front and center with compliance throughout 2015 that will impact the entire mortgage supply chain. Are you working with them on compliance initiatives to help?

Iannitti: Part of the CFPB’s “Know Before You Owe” mortgage initiative, which is designed to improve the home-buying experience for consumers is its eClosing pilot program. It analyzes how technology can improve the borrower experience.

DocMagic is one of the lead vendors participating in the CFPB’s eClosing Pilot, which is in direct response to providing an automated solution to the new Integrated Disclosure, (TRID) regulation for August 1st. Much of that encompasses providing a consistent electronic process and streamlined consumer experience to ensure borrowers are better informed and educated before they go to closing and on the lender side to ensure the lender has an electronic documented process (audit trail) to ensure proof of compliance around delivering the disclosures to consumers.

Although the pilot itself is currently only focused on the delivery of the “Closing Disclosure Form,” the lenders we are working with already provide an initial electronic disclosure, (eDisclosure) with much of the verification being paperless up to providing an electronic pre-closing and full eClosing process that includes eNotary, eRecording and eDelivery to the investor via MERS eRegistry.

In short, we’ve already satisfied the pilot’s initial objective and have actually taken it much further, achieving a full eClosing from soup-to-nuts using DocMagic’s single solution.

HW: There has been a lot of talk about achieving a true eMortgage. How close do you think we are?

Iannitti: There are many different components that all need to work very well together in order to achieve an actual eMortgage from start to finish --- completely electronically and without the use of any paper whatsoever. The industry has made significant advancements with eMortgages over the years from e-documents to e-signatures, e-notaries, e-delivery, e-closing, e-recording and e-vaulting. What we’re finding, however, is that there are currently too many vendors involved to make it work smoothly. This is why we are evolving into a single-source provider of comprehensive services. At DocMagic, we have the technology and are eMortgage ready; but, the next challenge is in getting major investors and other industry players to embrace and accept it. So, when will broad-based market adoption occur is the billion dollar question.

What we have seen in recent years is a confluence of eEnabling events that have risen out of a combination of 1) technology adoption, 2) government mandates and 3) the proliferation of data-centric models that we believe creates a paradigm of “eInevitablity” that will begin to show real leaps in market adoption in early 2016. The environment has become an environment where the only way to be compliant and competitive is to eliminate the paper. Many of our customers see this already, and are working with us to set up an eEnvironment.

HW: What are some of the biggest challenges that lie ahead in 2015 and how do you plan on overcoming them?

Iannitti: Had you asked me this question last year, I would have said our biggest challenge was going to be driving eAdoption, but I am pleased to say that certain marketplace drivers ended up getting that well underway.

Currently, our biggest opportunity is going to be ‘riding’ the eWave. This means that we will be material in transitioning increasingly greater numbers of our customers to an eEnvironment that is highly regulated and highly competitive. Customers are unique and one size doesn’t fit all. It will be a time of great learning for everyone in this market --- everyone. Maintaining balance while assimilating the knowledge we gain and continuing to innovate amid an incredibly fast-moving regulatory intensive business landscape is our opportunity, and we are very well-positioned to capitalize on it. We’ve been around for 25 years and have successfully navigated through many industry cycles, always coming out on top.

Compliance rules abound; they here to stay. We’re ultra-prepared to tackle them and serve as a very effective electronic single-source solution to clients. We’re quickly transforming from once being a document preparation company into an eServices company.

As featured by HousingeWire, January 2015

Easy for the Borrower...
Convenient and Compliant for you!

Coming February 1st, a new look and intuitive features make DocMagic’s eSign platform better than ever – giving you a fast and compliant electronic document signing, management, and storage process! Just for borrowers, we focused on signer-friendly improvements designed to enhance the signing experience!

Our new PostFill feature allows you to include documents with open form fill cells. Borrowers can easily fill in data fields with information during the signing process.

Pop up guides with clear instructions and an Automated eSign Tour walk borrowers through the eSigning process step-by-step.

With enhanced control features, borrowers can navigate easily and zoom to view documents. The smarter Signing Status control bar helps borrowers stay on track.

■ Dynamic PostFill functionality
■ An automated eSign Tour shows borrowers every step
■ New instructions and pop-up guides
■ Enhanced control and navigation tools
■ Signing Status control bar keeps borrowers on task