""LendingQB"":http://www.lendingqb.com/, a California-based company that provides loan origination software, and ""DocMagic"":https://www.docmagic.com/, a California-based creator of document production technology, have teamed together to offer a more seamless approach to loan origination.
[IMAGE]DocMagic's document preparation functions, including eDelivery and eSigning, are embedded into LendingQB's loan origination system.
[COLUMN_BREAK]LendingQB noticed its users spent ""entirely too much time keying data and changing loan information in the document provider's system, and then having to go back and reconcile the data in our LOS,"" according to Binh Dang, company president.
""This might about to just a few minutes of effort per loan, but when calculated across multiple users and files, it becomes a substantial loss of productivity,"" Dang added.
With DocMagic technology embedded directly in the LendingQB system, users do not have to switch back and forth between systems and re-enter the same information more than once. This not only cuts down on wasted time but also eliminates opportunities for errors.
The new solution ensures compliance with all state and federal regulations, according to the two companies.
""The tight integration we have with LendingQB allows lenders to generate accurate compliant documents the first time ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô every time ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô while remaining in their native system of record, thus ensuring data consistency,"" said Steve Ribultan, DocMagic's director of business development.