DocMagic Inc., a California-based provider of compliant loan document generation, regulatory compliance, and comprehensive eMortgage services, said this week it has added ADA-compliant mortgage loan documents to its document library.
The new digital documents are accessible to visually impaired users and others with disabilities, unlocking opportunities for these consumers into the broader mortgage market, the company said.
.“Much of modern lending technology is designed to give consumers the convenience to access loan documents in the ways that work best for them,” said Dominic Iannitti, president and CEO of DocMagic. “It is imperative that our industry remain inclusive of all borrowers, and that we design solutions that are accessible to all.”
He added that, “By creating ADA-compliant documents, we can continue to ensure that more borrowers are able to easily access, and participate in, the loan process.”
DocMagic’s ADA-compliant loan documents are data-driven and designed to automatically identify and index critical document components during the document generation process, the company said.
ADA metadata tags are applied to each component within the documents. The metadata tags function like HTML code, logically displaying a document’s organizational structure and content hierarchy. The tags include content-level details, as well as descriptive text for images, logos, and more, along with specific semantic instructions designed to make all text understandable via an advanced Text-To-Speech (TTS) engine that accurately translates on-screen information into clear speech through earphones or speakers.
The new ADA-compliant documents have been implemented at scale by some of the nation’s largest financial institutions, enabling them to serve more clients and lead the way in providing a heightened level of customer support and an exceptional user experience, DocMagic said.
To comply with the Americans with Disabilities Act (ADA), digital content must be free of barriers that may prevent those with disabilities from accessing information. Mortgage lenders that implement ADA-compliant documents promote equality and accessibility for disabled borrowers nationwide. They also help lenders mitigate legal complaints and resulting fines based on ADA standards.
DocMagic said its ADA compliance project is a “crucial step in the mortgage industry that creates a more inclusive and accessible world for those living with disabilities.”
Founded in 1987 and based in Torrance, Calif., DocMagic Inc. develops software, mobile apps, and web-based systems for the production and delivery of compliant loan document packages.
