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Tracking stats: Performance numbers can add up to success

National Mortgage Professional
Jun 23, 2005

Document Systems delivers electronic disclosuresmortgagepress.comDocMagic, eDisclosure, pre-disclosure documents, E-Sign Document Systems Inc. (DSI) has released DocMagic eDisclosure, a service that permits lenders to deliver up-front loan disclosures to borrowers electronically. The automated service will deliver a pre-disclosure document package that consists of a Good Faith Estimate, Truth in Lending disclosure, state-specific disclosures and other required documents through a secure Web site. With DocMagic eDisclosure, borrowers are directed to the site via an e-mail message sent out automatically by the company's DocMagic software and then prompted to provide their consent to receive the disclosure documents electronically. The process is in full compliance with federal E-Sign legislation and Regulation Z. DSI monitors all aspects of the eDisclosure process. As borrowers access their documents via the eDisclosure system, lenders are notified via e-mail. It lets the lender know when the borrower opened the e-mail, when the documents were actually viewed and also includes a record of the completed E-Sign consent agreement. Furthermore, a daily status report is e-mailed that summarizes the status of every loan in the pipeline or, optionally, DSI has developed a Web service application program interface for the system allowing a lender to integrate the service into their own environment. Headquartered in Carson, Calif., Document Systems Inc. develops mortgage technology for compliant loan document preparation and customer contact management. For more information, call (800) 649-1362 or visit www.docmagic.com.
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