As the need for social distancing now factors into many business decisions, lenders are focused on digital technology implementations to update paper-reliant lending processes.
DocMagic’s Total eClose Solution is a comprehensive, end-to-end eClosing system that supports all hybrid eClosing types and provides everything required for a 100% paperless eClosing. The seamless digital experience is comprised of DocMagic’s comprehensive suite of eSolutions, leveraging SMART Doc eNotes, eNotarization (remote online eNotary and in-person), an industry-leading certified eVault and automated Investor eDelivery technology.
Total eClose helps companies provide enhanced customer service and digital efficiencies, reducing borrower time at the closing table to just a few minutes – or even eliminating the need for in-person contact altogether.
“There are a lot of options in our single-source platform, allowing lenders to leverage the flexibility that comes with doing business digitally,” said Dominic Iannitti, president and CEO of DocMagic. “The goal is to give our customers the tools they need to create opportunities in this new landscape… or any landscape.”
Lenders can directly access DocMagic’s eClosing platform regardless of their document provider. Total eClose can consume data and documents from any source and e-Enable and auto-prepare third-party documents. If documents are not e-Enabled for eSign, eDelivery, eNotary or eClosing, the solution automates the process and makes those abilities accessible.
Switching the majority of loan documents from paper to electronic can reduce a 100-page or more document package to just a few pages and condense an hour-long closing to one that takes only minutes. Shorter closings mean less face-to-face interaction is required of borrowers, settlement agents and notaries. The solution also allows borrowers to preview their documents and sign some documents prior to closing, and includes both remote and in-person electronic notarization capabilities.
“We work with lenders all day, every day, who are working to be as ‘e’ as they can be,” said Chris Lewis, director of Enterprise Solutions. “If this is the new normal, then it’s necessary to implement digital technology to reduce the amount of in-person interaction.”
Total eClose’s intuitive design and workflow help maximize user adoption, and DocMagic partners with customers before integration begins to develop a strategic technology plan. The company’s dedicated eClosing and onboarding teams are committed to high standards of service and support, easing the user adoption process and providing valuable digital mortgage experience to help shape go-to-market strategy.
In addition, Total eClose’s intuitive, single-vendor technology fosters interoperability between disparate systems in the supply chain to help originate, process, close and sell quality loans as efficiently as possible.
The Total eClose Solution ensures accuracy and delivers efficiencies for borrowers, notaries and settlement providers. With greater control and accountability during the loan cycle, loans can close faster, with fewer errors and omissions.
“By offering crucial communication and collaboration tools and easing integrations with other platforms, Total eClose gives users the ability to close loans faster and at a lower cost,” said Brian D. Pannell, chief eServices executive. “Our eClosing solution lowers the cost to produce loans, ensures compliance and removes potential surprises that can create delays at the closing table.”
Dominic Iannitti, President and CEO
Dominic Iannitti founded DocMagic with a commitment to provide the mortgage industry with superior solutions and services that would reduce and eventually eliminate the use of paper. More than 30 years later, that vision continues to inspire the work behind DocMagic’s full enterprise technology stack, supporting every aspect of the complete digital workflow process.
Chris Lewis, Director of Enterprise Solutions
Chris Lewis joined the DocMagic family in 2016. In his role, Lewis partners with the largest banks in the industry to provide tactical strategies for increasing operational efficiency and expanding digital mortgage utilization. Prior to DocMagic, Lewis served as executive director for JP Morgan Chase and SVP of technology solutions at Fidelity.
Brian D. Pannell, PMP Chief eServices Executive
Brian D. Pannell has managerial responsibility for all post-sales activities for customers who are adding eMortgage (eSign, eNotary and eVault) as well as post-closing (MERS eRegistry) technologies and efficiencies to their business models. With extensive experience in the evolution of eMortgage solutions, Pannell has initiated industry leading implementation processes for DocMagic’s entire suite of eSolutions.
