DocMagic, Inc., a provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, partnered with real estate document collaboration and recording technology provider Simplifile to deliver new process efficiencies that further digitize the closing process, including post-closing automation. Simplifile is part of ICE Mortgage Services, which applies technology and high-capacity infrastructure to make the mortgage process electronic and more efficient.
DocMagic’s Total eClose platform is a single-source platform that eliminates paper and offers advantages over piecemealed providers that only address components of the overall eClosing process. The integration between Total eClose and Simplifile’s collaboration and post closing services includes access to Simplifile’s eEligibility data for eNotarization acceptance.
Further, loan closings done through DocMagic’s
Total eClose platform can now be automatically routed to the settlement agent thorough Simplifile for electronic closing coordination, thus streamlining access to DocMagic’s Total eClose
room for the eClosing. The digital lift continues beyond the closing table with integrated eRecording with participating counties. Those recorded documents and the title policy are then returned electronically along with associated recording metadata to the lender.
, agents can seamlessly connect to all of DocMagic’s eClose-enabled lenders in one place to exchange documents, data and closing logistics, thus enabling them to more easily support lenders’ eClosing initiatives. In addition, Simplifile provides eClosing support and training to all agents to help drive adoption and success of eClosing efforts.
DocMagic’s Total eClose platform, coupled with its document generation service, establishes a single-source solution that digitizes documents from initial disclosures through closing documents. STRATMOR Group’s 2019 Mortgage Technology Insight Study ranked Total eClose the eClosing leader based on market share, overall satisfaction and lender loyalty. The survey also ranked the company as having the highest market share in the document generation category.