This integration will allow users to run regulatory compliance checks, generate upfront disclosures and re-disclosures (change in circumstance documents), and deliver them for customers to sign electronically via DocMagic's eSign technology, the companies claim.
Now, customers of the two companies can create upfront disclosures, allowing them to form stronger relationships with prospective borrowers.
‘DocMagic keeps track of every document in the loan file with its electronic auditing and automated compliance system,’ says Dominic Iannitti, CEO of DocMagic, in a press release. ‘As the transaction moves from the Marksman system into the lender's loan origination system (LOS), all documents and the data used to create them remain intact, moving with the workflow to the closing in full compliance.’
‘This integration provides a seamless process flow for our lenders,’ adds Don Kracl, vice president of mortgage tools for Zillow. ‘The initial document package must be sent during the lead nurturing and pricing steps, not after. This technology allows loan officers to focus on lead nurturing and pricing without having to wait until the application is entered into the LOS to issue the initial disclosures.’