DocMagic Inc., which offers loan document preparation, regulatory compliance and e-mortgage services, has integrated its e-sign solution with MortgageHippo, a digital lending platform.
The integration means mortgage lenders using MortgageHippo can now provide their borrowers with the ability to electronically sign documents at any stage of the mortgage process, from point-of-sale to closing.
E-signatures eliminate the time constraints and accessibility limitations of manual signatures, thus providing lenders with a faster mortgage process and reduced origination costs. The e-signature process that MortgageHippo provides via DocMagic is as legal and valid as a manual process using printed and wet signed documents, the companies say in a release.
MortgageHippo provides mortgage lenders with a comprehensive suite of white-labeled web and mobile-ready products that enable a modern, efficient, secure and fully online borrower experience from the point-of-sale to closing.
Lenders can order disclosures directly from their loan origination systems (LOS), most of which are already integrated with DocMagic. MortgageHippo then provides e-delivery of the disclosures to the consumer via the MortgageHippo borrower portal for compliant e-signing using DocMagic’s e-sign technology. This service is available for initial disclosures, Loan Estimates (LE), Closing Disclosures (CD) and closing documents.
“If lenders want to stay competitive, they need the tools to satisfy borrowers’ growing appetite for an easy and robust digital experience,” says Joe Dahleen, executive vice president and chief strategy officer at MortgageHippo. “MortgageHippo’s integration with DocMagic allows us to provide those tools to lenders by offering e-signature capability throughout the entire mortgage process.”
“We are pleased to partner with MortgageHippo and offer our mutual lender clients a strong digital mortgage point-of-sale solution that integrates tightly with our platform and LOS partners,” adds Steve Ribultan, director of business development at DocMagic. “Integrating with MortgageHippo is yet another step that DocMagic is taking to deliver on the promise of achieving a truly paperless digital mortgage process.”