DocMagic and Guaranteed Rate Partner to Reduce Closing Times

May 22, 2018

DocMagic has announced that retail mortgage lender Guaranteed Rate can now cut closing times by electronically signing mortgage closing documents in advance via “FlashClose,” which allows customers to opt-in, review and complete most documents in advance of the notary arriving, saving an hour or more at the closing table–with some averaging a mere 10-minute appointment to provide inked signatures.

“Guaranteed Rate is always looking for ways to simplify the process using innovative technology to enhance the customer experience,” said Jim Hettinger, Executive Vice President of Operations for Guaranteed Rate. “With the successful launch of FlashClose, powered through our partner DocMagic, this tool adds speed, convenience and accuracy to the closing process.”

Dominic Iannitti, President and Chief Executive Officer at DocMagic, said, “Guaranteed Rate is a leader in mortgage technology innovation and collaborating with them on this project has created a solid hybrid eClosing approach that saves a lot of time for both borrowers and closing agents. The fashion in which Guaranteed Rate is leveraging our technology has resulted in the successful adoption of a sound, compliant, secure hybrid eClosing that is unique to their retail lending business strategy.”

About the author

NationalMortgageProfessional.com

Link copied

Published

May 22, 2018

Industry News

Bank On Borrowers, Not Rate Predictions

Chasing rate forecasts wastes resources better spent on cold, hard business

Lenders and loan originators who listened to and relied on economists’ predictions hoped that lower rates would materialize all through 2023. Their disappointment carried through until September of 2024, when the Federal Reserve cut interest rates for the first time in four ...

Analysis and Data

Mortgage Credit Nosedives In November

Lackluster investor interest and industry consolidation are taking their toll on the market's liquidity

Mortgage credit declined sharply in November, with government indices reaching their lowest levels since 2012 according to updated figures from the Mortgage Bankers Association (MBA). Falling 3.3% to 95.9, November marks the fifth consecutive month of declines in the MBA’...