TORRANCE, Calif.--October 23, 2012--DocMagic, Inc., a leading provider of fully-compliant loan document preparation and delivery solutions for the mortgage industry, successfully integrated its document preparation and delivery solutions with CashCall, Inc. (“CashCall”), one of the nation's premier consumer finance lenders. The recent project – achieved in just 40 days – quickly and expertly equipped CashCall with compliant loan documents, something its prior vendor couldn’t do despite 18 months of effort. This implementation allows CashCall’s staff to prepare and deliver fully compliant electronic loan documents with record speed in all 43 states where the company does business.
We place the highest priority on compliance—we can’t afford to work with vendors that aren’t 100% reliable,” said James Kiyohara, Chief Information Officer of CashCall. “After experiencing endless delays with another vendor, we did our due diligence and DocMagic emerged as the clear choice for document preparation and delivery.”
“DocMagic is known for being a very reliable compliance provider," said Dominic Iannitti, CEO of DocMagic. "We’re used to pinch hitting when other vendors have dropped the ball. Reliability reaches into all aspects of our operation, from being 100% compliant to implementing our technology when the competition has failed to deliver.”
DocMagic’s solutions, which include paperless document management, electronic signature technology and the ability to audit loan files at any stage of the origination process, are now embedded in CashCall’s workflows. CashCall’s staff can now perform automated compliance reviews; compile and complete loan files; validate data; and perform as many audits as necessary to determine whether loan files meet or exceed state and federal lending regulations, including the Dodd-Frank Wall Street Reform and the Consumer Protection Act. This means that CashCall’s staff can prepare documents and check them for compliance from within their own systems, saving an extraordinary amount of time and effort. In addition, DocMagic can process CashCall’s loan documents in two seconds or less, the fastest known time in the mortgage industry.
One of DocMagic’s integration specialists and business analysts led the project for CashCall. The installation was seamless, integrating DocMagic’s legal, compliance, form creation and programming teams during the implementation process. CashCall and DocMagic conducted tests during the installation, easily and efficiently making any modifications along the way.
Initially geared for 41 states, the project went so quickly that DocMagic was able to add two additional states where CashCall does business: California and Washington.
“We were a little skeptical that anyone could get the job done so quickly because of our past experiences, but DocMagic made us believers,” said James Kiyohara. “As we continue our highly successful growth strategy nationwide, having a trusted partner like DocMagic on our side is important. We are very excited to be working together.”
Founded in 2003, CashCall, Inc. has grown into one of the nation's premier consumer finance lenders. Headquartered in Anaheim, California, the company employs over 1,600 lending professionals, each dedicated to providing exceptional customer service. Its mortgage division, specializes in low interest mortgage loans and home refinancing for borrowers with good credit. Founded by the people who started the very first direct mortgage company in 1995, CashCall’s mortgage division has streamlined the application and lending process, reducing their own costs and passing these savings on to customers by undercutting larger banks and lenders with lower interest rates, no application fees, deposits or points. CashCall’s mortgage division offers a variety of products such as 10, 15, and 30-year fixed rate loans as well as FHA Loans. For more information visit www.CashCall.com.
Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, processes and web-based systems for the production and delivery of compliant loan document packages. DocMagic guarantees and warrants that all agency forms are up to date and in compliance with GSE requirements. The company's compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.
- Real Estate Investors Continue to Favor Flipping - by a Narrowing Margin - According to Latest Auction.com Real Estate Investor Activity Report
- Black Knight's March Mortgage Monitor: Negative Equity Population Shrinks to Just Over 4 Million; 77 Percent of Borrowers in Foreclosure Are Underwater
- Auction.com Names Former LinkedIn and Yahoo! Engineer as Senior Director of Engineering
- Black Knight Financial Services' "First Look" at March Mortgage Data: Delinquency Rate Sees Largest Monthly Drop in Nine Years
- Auction.com Releases Q1 2015 Investor Activity Report