MortgageCountry, a newly formed mortgage banker, has implemented DocMagic’s Total eClose platform and dynamic document preparation service.
Since its launch, MortgageCountry has set a new standard for speed, closing loans in an average of 13 calendar days during the first two months of lending, aided by DocMagic’s software.
MortgageCountry identified a gap in the industry, dominated by large independent mortgage bankers and financial institutions after the financial crisis, which has significantly increased the consumer cost of a mortgage.
The primary reason for rising consumer cost is the industry’s reliance on a large outside sales infrastructure, absorption of mortgage brokers, and corporate expense allocations throughout the banking industry.
MortgageCountry is committed to reversing this negative trend while providing best-in-class products and services.
“To be successful in today’s fast-moving, rapidly changing lending landscape, implementing the right technology is business-critical to disrupt an industry plagued with good ideas but poor execution,” says Sheila Salvitti, director of communications and social media at MortgageCountry, in a release. “MortgageCountry has successfully delivered on our promise to make the client experience as simple, quick and easy as possible. After DocMagic tailored Total eClose to our business needs and swiftly implemented the platform, we were flawless from the outset.
“It was a pleasure collaborating with the tech-savvy, forward-thinking team at MortgageCountry in a combined effort to master the e-closing process before they ever funded a single loan,” adds Dominic Iannitti, president and CEO of DocMagic. “The unprecedented success we had with the solution configuration, troubleshooting and implementation of the platform helped setup MortgageCountry to be one of the most efficient independent mortgage bankers in the country. Using our combined docs and e-closing solutions, they have established a clear competitive advantage while also future-proofing their organization with the most contemporary, innovative technology in the industry.”
