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DocMagic, a provider of compliant loan document preparation, compliance, eSign and eDelivery solutions, and Mid America Mortgage announced a new partnership to create and end-to-end eMortgage.
Mid America Mortgage will use DocMagic’s SaaS-based compliance and mortgage loan document engine together with the on-premise solutions of DocMagic’s recently acquired eSignSystems patented eSigning, eNotary, eVaulting, eRegistration and eRetention solutions.
“The marriage of our SaaS and on-premise solutions delivers a unique value proposition for Mid America,” said Dominic Iannitti, president and CEO of DocMagic. “DocMagic’s SaaS model compliantly delivers dynamic, intelligent, data-driven loan documents and disclosures with a full eClosing for borrowers. eSignSystems’ on-premise platform provides Mid America with internal controls and tools to configure the solution to their specific business processes and the ability to efficiently work with third parties to achieve an eMortgage.”
At the start of 2015, Iannitti told HousingWire that this would be a big year for moving the mortgage market online. This move falls in line with that goal.
“The blend of these technologies integrated with our loan origination system (LOS), Mortgage Machine, establishes the path for us to close our loans electronically. DocMagic’s solutions are ready today for eClosing, and now that the GSE’s are accepting eNotes, their advance readiness for electronic closings is critical to Mid America’s short and long-term eStrategy,” said Jeff Bode, president of Mid America Mortgage.
