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Showcasing MReport’s Top 25 Fintech Innovators: DocMagic

 

COMPANY DESCRIPTION:

Founded in 1987, DocMagic provides document generation, regulatory compliance, eSignature, and comprehensive digital solutions for the national mortgage industry. With compliance experts and in-house legal staff consistently monitoring legal and regulatory changes at both the federal and state levels to ensure accuracy, DocMagic’s suite of technology solutions is designed to advance the mortgage process at every stage.

INNOVATION SPOTLIGHT:

Total eClose by DocMagic—the mortgage industry’s leading eClosing platform just got better. Total eClose is a single-source, end-to-end platform that provides a 100% paperless workflow that seamlessly integrates every component of the closing process for borrowers, lenders, settlement agents, notaries, and other relevant parties.

COMPETITIVE ADVANTAGE:

With the addition of DocMagic’s new AutoPrep technology, Total eClose is now documenting provider agnostic, enabling the platform to utilize documents from any source. Leveraging sophisticated AI, OCR, and machine-learning technologies, the solution automates the numerous intricacies of preparing documents for electronic closing. Within seconds, AutoPrep categories, tags, and barcodes documents, instantly recognizing signature, initial, and notary regions. The resulting e-enabled documents are ready for eSignature, eNotary, and eClosing processes. DocMagic has opened the door for lenders to transition more quickly to an eClosing workflow, bringing efficiency, consistency, and user experience enhancements.

“We believe mortgage technology innovation should focus on reducing operational friction by improving the interoperability between disparate systems. This belief underscores innovation across our entire organization, with the ultimate goal of a truly digital loan process.”
—Dominic Iannitti President & CEO DocMagic, Inc.

 

HEADQUARTERS LOCATION: Torrance, California

PHONE: 800.649.1362

WEBSITE: DocMagic.com

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
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  Editor’s note: this piece originally appeared in the October edition of MReport. The Five ...

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