DocMagic, Inc. [1], a loan document preparation services provider headquartered in California, announced a partnership to make its service offerings available to users of Liquid Logics [2]' loan origination system (LOS).
"We're very proud of this integration effort and what it will mean to users of the Liquid Logics LOS," said Steve Ribultan, director of business development for DocMagic. "We're integrating everything: document packages, compliance, eSign, e-delivery, e-appraisal, BorrowerMobile, and perhaps most importantly the delivery of electronic documents to borrowers.
"It is a seamless integration that allows lenders to check compliance, generate document packages and deliver them to borrowers electronically from within their 'system of record,'" Ribultan added.
Sam Kaddah, president and CEO of Liquid Logics, said DocMagic's eDelivery and eSign tools were the primary factors in his company's decision to pursue a partnership.
"There are other doc providers but no one else has the 'proactive compliance checks' that DSI offers," Kaddah said. "We can launch compliance checks whenever material changes in the information hit the LOS system. It returns feature-rich findings that people in the system can use to make changes on the fly."
Currently available functionality includes production, e-delivery, and eSignature of borrowers' origination documents, DocMagic said in a press release. Additional functionality is expected to be rolled out to users over the coming months, with a complete integration anticipated before the end of the year.