DocMagic has issued a release announcing the passing of its Founder, President and CEO Dominic Iannitti, who passed away unexpectedly last Thursday morning due to complications from pneumonia.
An innovator and prominent figure within the mortgage industry, Iannitti founded DocMagic Inc. in 1987, with a vision to streamline the mortgage process and eliminate the reliance on. Iannitti is credited with automating the loan document preparation, management, and delivery processes; pioneering eVault and eSign capabilities; introducing the first end-to-end eClosing platform; and many other notable mortgage technology advancements.
Effective immediately, Pat Theodora, DocMagic’s CFO and Iannitti’s longtime business partner of 37 years, has been appointed the company’s new President and CEO.
“The entire family at DocMagic is deeply saddened by Dominic’s passing,” said Theodora. “He was a true pioneer in our industry and a mentor to many. I am committed to honoring his legacy by continuing to drive innovation and deliver exceptional solutions to clients. This is what my friend and partner would have wanted, and I am laser-focused on implementing the company’s succession plan without any interruption to operations.”
Leaving behind a legacy of innovation
Over the past four decades, Iannitti’s dedication and forward-thinking approach have positioned DocMagic as one of the top companies pioneering mortgage document generation and eClosing technology.
Headquartered in Torrance, California, DocMagic’s solutions facilitate digital lending transactions, connecting industry participants, and ensuring data integrity. With in-house compliance experts and legal staff, DocMagic monitors legal and regulatory changes at both federal and state levels.
“Dominic was a kind and considerate leader that placed people above all else,” said Ed Delgado, Chairman Emeritus of Five Star Global and Managing Director for Mortgage Policy Advisors. “His vision and passion for advancing technology across the mortgage industry will have a lasting impact for generations of future homeowners. My condolences to his family and to the team at DocMagic.”
Throughout his career, Iannitti was celebrated and commended not only for his software innovation, but also for his genuine care for employees, clients, partners, and associates. His achievements have been widely recognized in the mortgage industry, earning him numerous awards, accolades, and commendations, including MReport’s Top Industry Leader & Influencer Award, and the Mortgage Bankers Association’s Tech All-Star Award, among others.
“As we mourn the loss of our friend and business inspiration, DocMagic’s longtime leadership team is well-prepared to remain steadfast in our mission and commitment to excellence in the mortgage technology space,” said DocMagic COO Lori Johnson.
Details regarding memorial services will be shared as they become available. In lieu of flowers, the Iannitti Family requests that donations be made to one of the following entities that were close to Dominic’s heart: “In memory of Dominic Iannitti”–the World Family Foundation (Worldfamilyfnd.org) and/or Lunada Bay Little League (Lunadabayll.com).
The post Industry Mourns the Loss of DocMagic Founder Dominic Iannitti first appeared on The MortgagePoint.
