MReport December 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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4 | M R EP O RT MTECH Mobile Application Launched DOC MAGIC'S NEW LOANMAGIC MOBILE APP EASILY INTEGRATES WITH THE COMPANY'S SUITE OF PRODUCTS, AS WELL AS THIRD-PARTY MORTGAGE SOFTWARE. D ocMagic, Inc., a provider of fully-compliant loan document preparation, regulatory compliance, and com- prehensive eMortgage services, announced the launch of its new LoanMagic mobile application. LoanMagic, which is provided free to all DocMagic customers, leverages a powerful backend plat- form that provides full interopera- bility with DocMagic solutions, as well as other third-party mortgage software. "Bringing mobile functionality to borrowers and enabling lenders to connect with their customers is the end goal of most mobile applications in our industry—but at DocMagic, it is just the begin- ning," says Dominic Iannitti, President and CEO of DocMagic. "LoanMagic isn't an add-on. It's a fully interoperable technology that fills a critical gap in the digital mortgage process. It is just as powerful as any of our flagship and award-winning technology." LoanMagic is an intelligent, intuitive mobile application that provides a quick, easy, and transparent way for borrowers to stay fully engaged with their loans—and lenders—through- out the mortgage cycle. Its core functionality includes real-time loan status, document uploads, eSigning, integrated messaging, task management, push notifica- tions, and more. LoanMagic lever- ages DocMagic's eVault to ensure that every transaction is logged and securely stored, and it uses a "gamified" design that encourages borrower engagement by making the process of fulfilling conditions faster, easier, and more entertain- ing for the borrower. LoanMagic's primary differ- entiator is at its backend, which allows the mobile app to provide a level of interoperability with numerous relevant technolo- gies, ranging from DocMagic's solutions to point-of-sale systems (POS), loan origination systems (LOS), borrower-facing applica- tions, closing solutions, various settlement services technology, document scanning, cloud stor- age tools, and others. "A truly digital mortgage offers a continuous, fluid experience for everyone. The lender should not be patching holes or bridg- ing gaps," Iannitti said. "With LoanMagic, there's no data degra- dation, no delay, no added steps lenders need to take to make up for the use of a mobile application, like they may have experienced with other mobile applications in the past. LoanMagic feels and acts like an organic part of the technologies it supports. That's imperative for a truly digital mort- gage experience." LoanMagic eliminates many of the issues that have caused delays in the mortgage process. The result is greater transparency and vis- ibility, lower cost to produce loans, assurance of compliance, and elimination of surprise issues that create delays at the closing table. DocMagic provides LoanMagic at no additional cost to its customers as part of its mission to increase digital mortgage adoption, broaden collaboration among the numer- ous disparate entities involved in a mortgage, and advance interoper- ability between systems across the supply chain. Digitizing the Mortgage Experience Companies are dedicating not only time, but money, into improving processes, customer experience, data, and the ability to buy a home.

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