DocMagic Leads eClosing Categories and Holds Highest Market Share in Document Generation in STRATMOR Group’s 2019 Study
TORRANCE, Calif., Nov. 5, 2019—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that its Total eClose™ platform is the eClosing leader based on market share, overall satisfaction and lender loyalty in STRATMOR Group’s 2019 Mortgage Technology Insight Study.
“STRATMOR’s study places DocMagic as the eClosing leader, with more than 52.4 percent of the market comprised of banks, credit unions, and independent mortgage bankers,” said Dominic Iannitti, president and CEO of DocMagic. “We’re thrilled to have our customers rank us so highly in a study by an organization as reliable and respected as STRATMOR.”
DocMagic also led eClosing providers in overall satisfaction ratings and STRATMOR’s coveted Lender Loyalty Score® analysis, which the study states is based on lender satisfaction and intent to continue using the technology.
A second DocMagic technology, the company’s document generation solution, also holds the highest market share in its category. Together, Total eClose and DocMagic’s dynamic document generation can provide lenders with 100 percent paperless eClosings.
According to STRATMOR Group, this year’s study was based on responses from 250 mortgage professionals representing 209 unique lenders. The 2019 survey represents 29 percent of the mortgage market and draws in part upon 2017 HMDA data to maximize accuracy. STRATMOR defines eClosing technology as a system that allows lenders to deliver fully digital and also hybrid eClosings through a central platform. STRATMOR concluded that “eClosing represents a significant ROI opportunity for lenders to automate.”
DocMagic’s Total eClose platform is a comprehensive solution that delivers a completely paperless workflow and seamlessly integrates every component of the closing process. It includes a robust eDocument library with integrated eSign technology; the MISMO Category One SMARTDoc® eNote; eNotary technology for all 50 states; direct connectivity to the MERS® eRegistry; GSE-certified eVault storage for one year; secure and compliant investor delivery; and a complete audit trail for proof of compliance.
Persons interested in learning more about the industry’s leading eClosing platform can contact firstname.lastname@example.org.
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company’s compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com/.
About STRATMOR Group:
Founded in 1985, STRATMOR Group has, since inception, focused exclusively on making the mortgage business better for lenders and the borrowers they serve. Today, STRATMOR is a data-driven advisory that guides lenders and vendor clients alike to make smart strategic decisions, solve complex challenges, streamline operations, improve profitability and accelerate growth. For more information, visit https://www.stratmorgroup.com/
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