TheMReport — News and strategies for the evolving mortgage marketplace.
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M R EP O RT | 37 Top 25 Fintech Innovators HEADQUARTERS LOCATION: Torrance, California PHONE: 800.649.1362 WEBSITE: DocMagic.com HEADQUARTERS LOCATION: Idaho Falls, Idaho PHONE: 208.523.5531 WEBSITE: Docutech.com DocMagic Docutech COMPANY DESCRIPTION: Founded in 1987, DocMagic provides document generation, regulatory compliance, eSignature, and comprehensive digital solutions for the na- tional mortgage industry. With compliance experts and in-house legal staff consistently monitoring legal and regulatory changes at both the federal and state levels to ensure accuracy, DocMagic's suite of technolo- gy solutions is designed to advance the mortgage process at every stage. INNOVATION SPOTLIGHT: Total eClose by DocMagic—the mortgage industry's leading eClosing platform just got better. Total eClose is a single-source, end-to-end platform that provides a 100% paperless workflow that seamlessly inte- grates every component of the closing process for borrowers, lenders, settlement agents, notaries, and other relevant parties. COMPETITIVE ADVANTAGE: With the addition of DocMagic's new AutoPrep technology, Total eClose is now document provider agnostic, enabling the platform to utilize documents from any source. Leveraging sophisticated AI, OCR, and machine-learning technologies, the solution automates the numerous intricacies of preparing documents for electronic closing. Within sec- onds, AutoPrep categorizes, tags, and barcodes documents, instantly recognizing signature, initial, and notary regions. The resulting e-en- abled documents are ready for eSignature, eNotary, and eClosing pro- cesses. DocMagic has opened the door for lenders to transition more quickly to an eClosing workflow, bringing efficiency, consistency, and user experience enhancements. QUOTE: "We believe mortgage technology innovation should focus on reducing operational friction by improving the interoperability between disparate systems. This belief underscores innovation across our entire organization, with the ultimate goal of a truly digital loan process." —Dominic Iannitti President & CEO DocMagic, Inc. COMPANY DESCRIPTION: Docutech provides dynamic document services and technologies that streamline and simplify financial transactions for consumers and lenders. As the trusted leader in dynamic document creation, generation, eSign, and eClose technology for the mortgage industry, Docutech delivers truly exceptional service coupled with innovative and compliant solutions to help lenders better serve their customers. Docutech's knowledge and proven solutions empower lenders to efficiently produce accurate loan packages in all 50 states, ensuring compliance with changing laws and regulations. INNOVATION SPOTLIGHT: • Solex—Solex offers lenders the choice of eDelivery, eSign, eClose, and eVault technology. Integrated with Docutech's ConformX dy- namic doc gen engine and industry-leading point of sale solutions, the Solex platform provides lenders a flexible solution suite to enable each transaction to be as "e" as it can be. With over 40,000 eClos- ings completed and growing rapidly, see how much you could save with the Solex eClosing ROI calculator at docutech.com. • ConformX—Leveraging data directly from loan origination systems, ConformX is the industry's leading solution for creating document packages and now supports more than 30% of the nation's total mortgage volume representing over $500B in loan value. • Co-Browsing Functionality—Docutech is integrated with three of the industry's leading visual engagement solutions, enabling lenders to join their customers in the browser to guide them through the digi- tal loan origination experience, courtesy of the co-browsing function- ality integrated with Docutech's eDelivery and eSignature solutions for initial disclosures. COMPETITIVE ADVANTAGE: Docutech is a true original in the document technology space and has led the industry with its strategic vision for how to deliver the best possible experience for lenders and their customers. The power of Docutech's innovative technology and the integrations they take on make it possible for lenders to deliver the best possible experience to their customers while also improving operational efficiency and compli- ance. In particular, Docutech's Solex eClosing platform includes technology partnerships for eRecording, eNotarization, and remote online notarization to provide lenders with an end-to-end integrated eClosing solution.