Document Systems celebrates 20 years in the mortgage business MortgagePress.comDocument Systems, DSI, loan docs, electronic mortgage documents, LoanMagic, High Performance Seminars Toolkit
Document Systems Inc. from Carson, Calif., has announced that it
has passed a major milestone by serving the U.S. financial services
industry for over 20 years. When the company was founded, mortgage
loan officers completed applications with clipboards and pens.
Since then, DSI has led the industry into the future through the
development of its DocMagic software, which is still the easiest
way to get completely accurate, fully compliant mortgage loan
documents for thousands of loan programs from all of the industrys
largest investors.
DocMagic began as an incredibly efficient and simple software
designed to let brokers easily produce and print out error-free
closing documents. Over the last twenty years DocMagic has evolved
to offer a complete range of robust, flexible solutions that
provide millions of fully compliant disclosures and closing
document packages each year to originators of all sizes.
"We took a month-long, paper-based process that involved hours
of manual labor to gather, fill-in, copy, collate and store
hundreds of different documents and turned it into a simple process
of choosing a loan program and pushing a button," said Don
Iannitti, founder and CEO of DSI. "The loan was no longer the Deed
of Trust and all the supporting documents, it was a deal that was
supported by a closing package that we provided, easily, quickly,
affordably and accurately, every time. It would never have been
possible to reach the historic loan volumes we saw at the beginning
of this century without this technology."
While Iannitti is proud of what his company has accomplished
thus far, he says that even greater opportunity lies ahead for
lenders and settlement services providers that can adapt to a
changing marketplace.
"The mortgage industry is at a crossroads today, a challenging
time that will change this business once again," he said. "The
lending community is ready now to move into fully electronic
lending, the paperless processing of all loan documents. Lenders
must save time and money if they hope to remain competitive. Our
technology enables them to do that."
DSI has been ready to deliver fully electronic mortgage
documents for years now, but neither lenders nor borrowers have
been eager to adopt paperless lending. That is changing, Iannitti
said, and the industry will see greater adoption in 2008. But all
electronic mortgage lending is just the first step in his mind.
In addition to DocMagic, DSI introduced LoanMagic software in
2000. LoanMagic has quickly become one of the leading mortgage
customer contact management systems in the industry and is a
cornerstone of the High Performance Seminars Toolkit, a collection
of products and services designed to make loan officers more
success. The toolkit is made available to attendees of David
Bartel's popular High Performance Seminars across the country.
For more information, visit www.DocMagic.com.
