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DocMagic Inc., a provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, has announced that DocMagic is now available from within the Liquid Logics loan origination system (LOS) produced by bFocused. Liquid Logics is a cloud-based LOS that is currently in use by a consortium of consumer direct lenders.
"We're very proud of this integration effort and what it will mean to users of the Liquid Logics LOS," said Steve Ribultan, director of business development for DocMagic. "We're integrating everything: document packages, compliance, eSign, e-delivery, e-appraisal, BorrowerMobile, and perhaps most important the delivery of electronic documents to borrowers. It is a seamless integration that allows lenders to check compliance, generate document packages and deliver them to borrowers electronically from within their "system of record."
Currently available functionality includes production, e-delivery and eSignature of the borrower's origination documents, including initial disclosure and redisclosure document packages. Additional functionality will be rolled out to users over the next few months. Ribultan says he expects a complete integration by year's end.
"This is not a client/vendor relationship in the traditional sense, in which the partners want to be equal and yet the client calls all the shots," said Sam Kaddah, president and CEO of Liquid Logics LLC. "It is a proactive partnership whose aim is to provide our customer base a friendly, cooperative, and truly Web-based LOS application including docs, mobile experience and compliance."
"Our lender clients expect to have access to best software and services available anywhere in the industry," said Derrick Logan, senior vice president of strategic development for Loan Logics. "This integration with DocMagic delivers that. We're proud to be working with DocMagic."