Recently, DocMagic, Inc., reported a 42 percent increase in volume for 2016. The company credits its growth to the mortgage industry’s demand for products that enable TRID compliance, eSignatures and eClosings. This is the second consecutive year that DocMagic’s volume has increased by roughly 40 percent.
“Lenders have been looking for ways to assure TRID compliance since 2015, and DocMagic’s SmartCLOSE technology has become the industry’s go-to solution,” said Dominic Iannitti, President and CEO of DocMagic. “Our user base has grown quickly. A lot of existing DocMagic clients saw the value of SmartCLOSE™ immediately. It has also been an entry point for many of our new lender clients.”
In the past two years, DocMagic has completed numerous key integrations between lenders using SmartCLOSE, their loan origination systems, and new settlement service provider systems. The company is developing more integrations for 2017.
“The number of eSignatures completed has increased significantly since launching SmartCLOSE and Total eClose,” said Iannitti. “Lenders appreciate that they can stay compliant while gaining the speed and convenience of a digital process.”
The company anticipates this growth to continue in 2017.
“It’s very simple—at DocMagic, we’re dedicated to addressing the industry’s needs and demands with the very best solutions on the market,” said Iannitti. “That’s been the foundation of our business since we started, and we’re pleased to say that it remains the formula for our growth today.”