MISMO Certifies DocMagic’s Total eClose™ Platform and
Proprietary RON Technology
MISMO’s
eMortgage Technology Certification Program Grants Both Certifications to
DocMagic Platform
TORRANCE,
Calif., May 24, 2022—DocMagic, Inc., the premier provider of
compliant loan document generation, automated regulatory compliance
and comprehensive eMortgage services, announced that it attained MISMO’s
eClosing System and remote online notarization (RON) certifications for its Total
eClose™ solution.
Both
certifications are part of MISMO’s eMortgage Technology Certification Program created
to support, advance and increase the mortgage industry’s adoption of digital
solutions and is specifically designed to facilitate and encourage eClosing
transactions. Moreover, the RON certification confirms that the provider's
platform, procedures, and policies comply with MISMO standards and the eClosing
certification confirms that the platform meets MISMO-specific requirements.
MISMO standards
are widely accepted and used throughout the real estate finance industry, and
most major institutions, including government agencies and GSEs, which are
utilizing MISMO standards to exchange data with business partners. In addition,
agencies like the CFPB have made it clear that their examination and data
exchange tools will rely on and conform to the MISMO standard.
DocMagic
became Certified MISMO Compliant for eClosing in February of this year and is
the only document generation provider with the eClosing certification. In 2021,
DocMagic’s proprietary RON capability was offered to
its existing client base. The company’s Certified RON solution seamlessly
integrates with the company’s industry-leading Total eClose platform, enabling
lenders and their borrowers to realize a fully digital closing experience.
“We are
pleased to have received these important certifications, which establish
standards that improve lenders’ ability to evaluate eClosing technology
providers,” stated Dominic Iannitti, president and CEO
of DocMagic. “DocMagic has consistently championed the utilization of eClosing
and RON technology in an effort to move the industry
forward. These certifications help facilitate the adoption process and we fully
embrace them.”
DocMagic’s
Total eClose platform is a single-source solution that contains all components
needed to execute fully paperless eClosings. The award-winning innovation was
the first of its kind to be introduced to the mortgage industry in 2014 and
since that time has gained widespread market adoption.
About DocMagic:
DocMagic, Inc. is the leading
provider of fully compliant document generation, automated compliance,
eSignature and comprehensive eMortgage solutions for the mortgage industry.
Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops
award-winning software, mobile apps, and web-based systems for the production
and delivery of compliant loan document packages. The company’s solutions
connect industry participants, promote collaboration, and ensure data integrity
to execute precision-based digital lending transactions. The company’s
compliance experts and in-house legal staff consistently monitor legal and
regulatory changes at both the federal and state levels to ensure accuracy. For
more information on DocMagic, visit https://www.docmagic.com/.
About MISMO:
MISMO is the standards development
body for the real estate finance industry. MISMO developed a common language
for exchanging information for the mortgage finance industry. Today, MISMO
standards are accepted and deployed by every type of entity involved in
creating mortgages, and they are required by most regulators, housing agencies
and the GSEs that participate in the industry. Use of MISMO’s standards has
been found to lower per loan costs, improve margins, reduce errors and speed up
the loan process by reducing manual, paper-based processes while creating cost
savings for the consumer.. For more information,
please visit https://www.mismo.org.
Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com
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