DocMagic Inc., a company specializing in loan document generation and e-ortgage services, has integrated its Total eClose platform with Finastra‘s MortgagebotLOS solution, simplifying the mortgage borrowing process.
Dominic Iannitti, president and CEO of DocMagic, says: “We’ve demonstrated the power of Total eClose through our integration with Finastra’s MortgagebotLOS, creating an innovative automation tool for every eClosing originated through the solution. This collaboration not only saves time and effort, but also amplifies secondary market potential, eliminates laborious manual tasks, slashes cost per loan and streamlines the closing process.”
Through this integration, Finastra MortgagebotLOS lenders gain access to DocMagic’s suite of e-closing tools for all loans. Powered by a bi-directional document flow, tracking residing within MortgagebotLOS connects instantly to DocMagic’s Total eClose.
This integration combines comprehensive e-closing technology with data-driven origination workflow automation that generates compliant loan documents, facilitates borrower e-signatures and enables remote online notarizations (RON). Total eClose also empowers Finastra users to generate e-notes, establish direct connections with MERS and securely store documents in a certified e-vault.
Finastra’s MortgagebotLOS is a feature-rich, end-to-end, web-based mortgage lending platform that supports retail, wholesale and correspondent business channels. It streamlines the origination process and reduces operating costs.
DocMagic’s Total eClose solution provides a secure, streamlined and fully paperless digital environment delivered as an all-in-one application. The system automates essential tasks, from document generation to e-closing and e-notarization.
“We’re thrilled to offer our clients the efficiencies and conveniences that this partnership brings,” adds MaryKay Theriault, director, product management at Finastra. “Together, we’re setting new industry standards and making the mortgage closing process easier and more streamlined for borrowers across the United States.”