DocMagic is calling its eDecision solution a highly accurate decision that tells users precisely how far they can take a digital closing based on the unique attributes of the loan transaction–all the way down to county-level eRecording acceptance.
“Our goal in developing eDecision was straightforward: to help clients execute flawless eClosings and bring a new level of automation to the overall process by providing lenders with an immediate determination of how 'e' they can be,” said Dominic Iannitti, president and CEO of DocMagic. “Simply put, eDecision equates to eSuccess for all parties involved in the closing process.”
eDecision is powered by DocMagic’s audit engine, which begins the decisioning process as soon as the first set of disclosures are generated—starting as early as the point-of-sale—and continuing with e-eligibility checks throughout the entire loan process. The solution accesses and compiles first-party data, leveraging an immense amount of information to improve the digital closing process.
The eDecision solution does not force users to leave DocMagic’s platform and visit another website, use a third-party application, or access an ancillary database. Its core capabilities include eClosing selection, eNote certification, eRecording readiness, knowledge-based authentication, eNotary acceptance, and investor acceptance.
All analysis and results from eDecision are incorporated into DocMagic’s Loan Detail Report (LDR), which is automatically included with all document requests and is widely accepted by most investors as proof of regulatory compliance. Furthermore, DocMagic’s audit engine automates data and document validation throughout all phases of the lending process to ensure accuracy while performing continuous compliance checks to ensure strict adherence to applicable rules and regulations, according to the company.
