DocMagic has earned a spot on this year’s prestigious Inc. 5000 list of fastest-growing private companies in the U.S.

“DocMagic has been a market leader for years, so lenders naturally turn to us first when they want to elevate their processes or need to adapt to new circumstances, and that’s exactly what’s happened since the start of the pandemic,” said Dominic Iannitti, president and CEO of DocMagic. “We’re proud of our market strength, which is demonstrated in our three-year growth rate.”

The Inc. 5000 ranks companies by overall revenue growth over a three-year period. Over the last three years, DocMagic tallied a growth rate of 67%, due in large part to a dramatic increase in lender adoption of its single-source Total eClose solution.

“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” said Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”

In the last 18 months, as lenders faced unprecedented challenges amid the pandemic, they increasingly turned to DocMagic’s digital mortgage advisory services, remote implementation model, and strategic approach to automating new workflows. DocMagic’s subject matter expertise and Total eClose platform helped numerous lenders successfully meet the many demands of a rapidly changing, high-volume market.

“Early on, we invested heavily in R&D to engineer the right blend of digital mortgage and eClosing technologies,” Iannitti said. “DocMagic’s ongoing growth reflects the diligent work and unwavering efforts of our entire company. We’re honored to be named to the 2021 Inc. 5000 list among so many innovative and accomplished companies.”

The first Inc. 5000 list was produced in 1982. Intuit, Dell, LinkedIn, Zillow, Zappos, Microsoft and Patagonia are among the companies that first gained national exposure as honorees on the Inc. 5000.

Related Content:

• DocMagic's Leah Sommerville wins inaugural NextGen Leader Award (4/29/2021)
• DocMagic named to HousingWire's Tech100 list for 8th straight year (3/11/2021)
• Brian D. Pannell honored with HousingWire's 2020 Tech Trendsetters Award (12/4/2020)

Leah Sommerville, DocMagic’s senior account executive, has been named one of 10 winners of the NextGen Leader Award by PROGRESS in Lending Association. This award is specifically for people who have been in the industry for 10 years or less.

“We need new leaders that are not afraid to step forward and blaze a new trail. We need creativity. We need bold new ideas,” PROGRESS in Lending stated in announcing the award.

Sommerville is a member of DocMagic’s eClosing Team, where she has helped numerous lenders form their digital mortgage strategy and implement eClosings. She's no stranger to accolades — last year Sommerville was named one of National Mortgage Professional magazine’s Top 40 Under 40 Most Influential Mortgage Professionals. She's also a respected thought leader in the lending space.

“Being named to this new list of industry professionals who are all striving to make a difference is truly an honor,” she said. “At the end of the day, working for an industry-leading company like DocMagic that is constantly innovating makes it easy to get excited and passionate about introducing digital mortgage solutions to lenders.”

In 2020, DocMagic achieved 128% year-over-year growth and executed the most eClosings in company history, tallying a 724% increase in transactions via its Total eClose platform.

Sommerville has forged numerous partnerships between lenders, settlement agents, attorneys, notaries, investors, warehouse lenders and others in order to further digital mortgage initiatives that benefit the entire supply chain. She has also worked closely with leading loan origination system (LOS) vendors, settlement providers and third-party systems to facilitate automation of the entire eClose process. Her efforts have helped execute thousands of eClosings and increased eClosing adoption among relevant organizations by over 1,000%.

Related Content:

• DocMagic named to HousingWire's Tech100 list for 8th straight year (3/11/2021)
• Brian D. Pannell honored with HousingWire's 2020 Tech Trendsetters Award (12/4/2020)
• DocMagic's Lori Johnson honored with HousingWire's 2020 Insiders Award (9/3/2020)

DocMagic has been named to HousingWire’s 2021 Tech100 Mortgage list, which recognizes the mortgage industry’s most innovative and impactful companies.

HousingWire noted that this year’s winners are revolutionizing the mortgage process.

“After the uncertainty and unpredictability of last year, we expected a greater adoption of technology. However, these 100 real estate and mortgage companies took digital disruption to a whole new level and propelled a complete digital revolution, leaving a digital legacy that will impact borrowers, clients, and companies for years to come,” said Brena Nath, HousingWire’s HW+ Managing Editor.  

DocMagic had a record year in 2020, achieving 128% growth over 2019 and helping more than 130 lending institutions successfully implement eClosing strategies and solutions amid a pandemic and an unprecedentedly high-volume lending landscape. Demand spiked for DocMagic’s eClosing solutions, particularly its award-winning 100% paperless Total eClose™ platform and document preparation solution. The company concluded 2020 having performed the most eClosing transactions in its history, to the tune of a 724% increase in eClosings.

DocMagic has received the honor every year since HousingWire announced the inaugural list in 2014.

“Earning HousingWire’s Tech100 award for the eighth straight year is a testament to the incredibly dedicated team we have here at DocMagic and the passion they hold for continuous innovation,” said Dominic Iannitti, president and CEO of DocMagic. “We are elated to receive this award from HousingWire for digitizing key areas of the mortgage process and creating a superior experience across the supply chain.”

HousingWire Editor in Chief Sarah Wheeler, who has been helping to select winners since 2014, said every year the program becomes more competitive. “These companies are truly leading the way to a more innovative housing market.”

Related Content:

• Brian D. Pannell honored with HousingWire's 2020 Tech Trendsetters Award (12/4/2020)
• DocMagic's Lori Johnson honored with HousingWire's 2020 Insiders Award (9/3/2020)
• DocMagic earns a spot on the HW Tech100 for the sixth straight year (3/29/2019)

DocMagic’s Integration Services Manager, David Garrett, is set to begin a two-year term this month for the Mortgage Industry Standards Maintenance Organization (MISMO) Residential Standards Governance Committee.

Committee members weigh in on the voluntary standards that MISMO develops for the mortgage industry.

Garrett, who was elected in November, says his experience with DocMagic should help him make a strong contribution to the committee’s work.

“The technology we work with here at DocMagic is very cutting edge because we have a wide variety of partners and clients,” he said. “We also have so many different products, processes, and services that touch MISMO in some way, whether its doc gen, eNotes, eVaults, or the whole digital lending process from end to end. Very few organizations have all of those products under one umbrella. I hope that what I see here can help influence industry standards in a way that helps everybody.”

Garrett, who has been with DocMagic for over six years, helps clients integrate their current lending systems with DocMagic products such as Total eClose and document generation.

Before joining the committee, he was involved in MISMO’s Origination and eMortgage workgroups and was previously the co-chair of the Verifiable Profile SMARTDoc Development Workgroup. 

Garrett said the committee’s biggest issue will be trying to convince large swaths of the industry to adhere to a single standard.

“You have many facets of this industry using the MISMO standard in some form that it’s hard to get so many groups and organizations to adopt a single standard and stick to it,” he said. “A lot of the problem isn’t coming up with a standard but how to make it broad enough where we can get greater adoption. Everyone wants to have their own little flavor of it and that only works up to a point.”

The committee comprises 18 people, half of whom were elected at the same time as Garrett. It includes representatives from various mortgage industry sectors, including government-sponsored enterprises (GSEs), lenders, service providers, and more. Garrett won the seat for a technology vendor representative.

“We get to hear all kinds of different ways that people are solving problems,” Garrett said. “That’s what’s really nice about the meetings—you talk to your peers and your competitors and your clients and you get a broader view of the current problems the industry is facing.”

Related Content:

• The current state of eClosings: A Q&A with DocMagic's compliance chief (12/17/2020)
• DocMagic's Leah Sommerville named to NMP's Top 40 Under 40 list (12/10/2020)
• An eClosing Q&A with DocMagic's director of enterprise solutions (9/9/2020) 

2020 has been a year unlike any other—and that includes for the mortgage industry, which faced some of the biggest changes the industry has ever seen.

DocMagic has been tracking these momentous changes on our blog. As we say good-bye to 2020, we highlight some of the biggest mortgage stories of the year:

#1: The rise of eNotes

In 2019, there were over 127,000 eNotes registered on the MERS eRegistry. In 2020, through November, the number skyrocketed to over 407,000—a 264% year-over-year increase. At the same time, the number of companies transacting on the eRegistry rose 121%. It’s official: 2020 was the year of the eNote.

Another major event took place in 2020 that also pushed eNotes forward: After years of planning, Ginnie Mae and three members of the 11-member FHL Banks system began accepting eNotes as collateral. The other members will eventually follow suit.

“The fact that both are now accepting eNotes is crucial because it just introduced a whole new level of participants to the eNote world,” said DocMagic’s Chief eServices Executive Brian D. Pannell. “So, between the FHL Banks and Ginnie Mae, there are a lot of advancements in the ability to make those eNotes saleable.”

#2: The rise of RON

At the beginning of the year, 22 states had a remote online notarization (RON) law on the books. In 2020 another seven states jumped on board—Hawaii and Pennsylvania were the latest to enact a law—bringing the total to 29 states.

On top of that, a Senate bill was introduced at the federal level that would have allowed RON use nationwide (though it didn't pass), and several other states permitted RON for the first time ever—albeit via temporary emergency orders that were passed at the height of the stay-at-home orders. Many of the emergency actions have been repeatedly extended as the pandemic drags on.

As a result, RON transactions have increased 547% in 2020, according to a new survey from the American Land Title Association of vendors working in the RON space.

RON had already been increasing—due to a host of reasons that have nothing to do with social distanced-based safety—but the events of 2020 have given the practice a huge boost.

#3: And don’t forget RIN

Even though the demand for remote notarization was high, several states weren’t yet ready to commit to RON. Enter remote ink-signed notarization, a lower-tech and less secure alternative in which borrowers use a videoconferencing program like Zoom or FaceTime to connect with a notary and wet sign a document that is then physically mailed to the notary for their stamp.

Several states passed emergency orders to allow RIN, even ones that already permit RON, like Michigan and Texas.

RIN has several drawbacks, however, and draws its legitimacy solely from emergency orders. In Michigan, some RIN closings were even at risk after the state Supreme Court ruled that the governor didn’t have authority to extend her emergency powers—which allowed RIN—without the legislature’s approval. The legislature had to later pass a law to ensure that RIN transactions were valid.

#4: The new URLA is coming—at last

Fannie Mae and Freddie Mac announced back in 2016 that they were unveiling a new Uniform Residential Loan Application (URLA) for all lenders who intend to sell their loans to the GSEs; the mandated use-by date was then pushed back twice, with the latest delay—from November 2020 to March 2021—taking place this year as a result of the pandemic.

It looks like the latest deadline will stick. If so, lenders need to be ready by March 1, 2021, but they can get started now—the new URLA’s earliest effective date is Jan. 1, 2021.

#5: DocMagic employees shine

It was a banner year for DocMagic employees, several of whom were honored with industry accolades. This included DocMagic CEO Dominic Iannitti’s Lending Luminary Award; Lori Johnson’s HousingWire Insiders Award; Leah Sommerville’s Top 40 Under 40 honor; Brian D. Pannell being named a Thought Leader and HousingWire Tech Trendsetter; David Garrett’s appointment to the MISMO Residential Standards Governance Committee; and Chris Lewis’s recent Trailblazer Award by PROGRESS in Lending.

Related Content:

• Survey: Homebuyers adapt to eSignings, remote closings during pandemic (10/29/2020)
• An eClosing Q&A with DocMagic's director of enterprise solutions (9/9/2020)  
• County recorders, eRecording, and RON—by the numbers (7/8/2020) 

DocMagic senior account executive Leah Sommerville, 33, was awarded a coveted spot on National Mortgage Professional (NMP) magazine’s annual Top 40 Under 40 Most Influential Mortgage Professionals list.

The list, now in its second year, seeks to highlight the “up-and-comers across the mortgage world who are actively scanning the profession with fresh eyes, and making it better, with enthusiasm,” according to the magazine.

The honorees, who are voted on by their peers, range from executives at large institutions such as Fannie Mae to presidents and CEOs running their own firms. They span all sectors within the mortgage industry, including compliance, loan origination, FinTech, and more.

Asked by NMP what she considers her greatest success in 2020—a year that presented multiple unique challenges, including the pandemic, social distancing requirements, stay-at-home orders, a refi boom, and new compliance rules—Sommerville said, “I’m proud to have been involved in helping many organizations make the shift to hybrid and completely digital eClosings.”

During the pandemic, she has been especially focused on helping lenders who are rushing to implement DocMagic’s 100% paperless Total eClose solution.

Over her career Sommerville has helped drive the digital processes for over 400 organizations; increased eClosing adoption among relevant organizations by over 300%; and helped execute more than 8,000 eClosings so far. A member of DocMagic’s dedicated eClosing team, her specialty is guiding lenders through the transition from paper to electronic mortgages, so much so that she’s become a subject matter expert on it.

“I was fortunate to begin my journey in the mortgage industry during a time when lenders began recognizing the importance of modernizing outdated paper processes with technology to increase efficiency and improve the borrower experience,” Sommerville told NMP. “My experience as a digital transformation coach has been especially exciting because I truly enjoy helping organizations reap the benefits of these technological advances.”

Related Content:

• Brian D. Pannell honored with HousingWire's 2020 Tech Trendsetters Award (12/4/2020)
• DocMagic's CEO honored with Lending Luminary Award (10/27/2020)
• Remote online notarization (RON) has several benefits beyond safety (10/22/2020)

Brian D. Pannell, DocMagic’s Chief eServices Executive, was named one of HousingWire’s 2020 Tech Trendsetters.

“This year has been one of the most challenging in my career, given the influx of requests to implement many of our solutions throughout the pandemic and refi boom that is setting volume records,” Pannell said. “But seeing all the hard work pay off for DocMagic’s clients and partners has been very gratifying, and receiving the Tech Trendsetters award at the end of this long year makes it all worthwhile.”

The award, now in its second year, was given to 50 of the housing industry’s most innovative technology leaders, across sectors such as residential mortgage lending, servicing, investing, construction, and real estate.

“Our Tech Trendsetters award recognizes a group of leaders who were critical to the outstanding performance of housing and real estate during this pandemic, finding innovative solutions when everything changed on a dime,” said HousingWire Editor in Chief Sarah Wheeler. “We’re very proud to celebrate their achievements and honor the impact they’ve had at such a crucial time.”

Throughout 2020, Pannell has racked up several key accomplishments, including:

• Helping clients implement multiple DocMagic solutions, including Total eClose, a 100% paperless eClosing platform that leverages our dynamic document generation capabilities, and DocMagic’s eVault and eNote process—not just for lenders but also for other members of the supply chain.
• Working on Secured Party and Master Servicer/Subservicer for the support of MERS, the Federal Home Loan Banks, Ginnie Mae, and the gap in servicing support for servicers that don’t have their own eVaults.
• Helping launch AutoPrep, a new technology that can convert documents from any lender into compliant e-enabled documents that can be used with Total eClose.
• Serving as an invaluable resource to the mortgage industry as a subject matter expert on end-to-end eMortgage automation, eSigning, eNotarization, eNotes, eVaults, eClosing, eWarehouse lending, and more.

Pannell has helped countless lending entities go “e” this year, enabling them to serve their customers during the pandemic. As an industry thought leader, he plays a key role in where digital mortgages are headed.

“In its second year, the 2020 Tech Trendsetters once again surpassed all expectations as the housing industry rose up to meet unprecedented challenges,” HousingWire Magazine Editor Kelsey Ramírez said. “This year’s Tech Trendsetters represent shapers whose innovative solutions continue to inspire the industry.”

Related Content:

• Survey: Homebuyers adapt to eSignings, remote closings during pandemic (10/29/2020)
• DocMagic's CEO honored with Lending Luminary Award (10/27/2020)
• DocMagic's Brian Pannell named winner of Thought Leader Award (6/18/2020)

DocMagic CEO and President Dominic Iannitti was named a Lending Luminary award winner by the PROGRESS in Lending Association. The honor, now in its 2^nd annual year, was awarded to just 25 people across the mortgage industry, including bankers, lenders, servicers, technology executives, consultants, and more.

“Right now the market is filled with uncertainty, but these true Lending Luminaries are better handling and navigating the constantly fluctuating market conditions,” PROGRESS in Lending stated in announcing the award. “These executives deserve to be recognized for their industry vision and leadership.”

Iannitti was selected thanks to several key accomplishments over the last year that led DocMagic to success. One of the main accomplishments was the April launch of AutoPrep, a new technology that leverages AI, OCR, and machine learning technologies to fully e-enable a document for paperless eClosings. This means any loan document from virtually any provider can be used with DocMagic’s comprehensive, single-source Total eClose platform.

AutoPrep was a significant R&D investment and technology strategy to help more lenders perform eClosings.

”I’m a firm believer that these innovations work to establish much-needed interoperability between disparate systems and critical entities within the digital mortgage ecosystem,” Iannitti told PROGRESS in Lending. “Our goal is for our industry-leading eClosing platform to be completely open, handling documents from all vendors and sources without any manual effort or additional labor required.”

Iannitti was also recognized for helping DocMagic clients adapt to the pandemic environment, including social distancing measures and work-from-home (WFH) orders. Numerous lenders used Total eClose to execute mortgage closings electronically. Additionally, as more states passed emergency remote online notarization (RON) laws, Iannitti ensured that DocMagic was ready to quickly and effectively respond to clients’ urgent need for RON within the Total eClose platform.

Related Content:

• DocMagic's Lori Johnson honored with HousingWire's 2020 Insiders Award (9/3/2020)
• DocMagic's Brian Pannell named winner of Thought Leader Award (6/18/2020)
• New AutoPrep tech accepts docs from ANY provider for paperless eClosings (4/3/2020)

Lori Johnson, DocMagic’s Director of Client Services, has been named as a 2020 HousingWire Insider thanks to her recent eClosing implementation successes.

The honor is bestowed upon 50 people from across the housing industry, including mortgage lending, Fintech, and real estate. HousingWire’s editorial board selected the honorees based on their accomplishments over the last 12 months.

“This award is well-deserved and we’re elated HousingWire selected Lori as a winner,” said Dominic Iannitti, DocMagic’s President and CEO. “She is a roll-your-sleeves up, get-it-done type of technology executive who places the company and customer first every single time with every single thing she does."

Johnson successfully onboarded numerous new lender clients during the pandemic, despite the sudden influx of lenders in need of eClosing platforms and remote online notarization (RON) technology. Over the last year—and during 2020 in particular—Johnson and her team have taken multiple marquee mortgage bankers and mega-lenders live.

RON: The last mile in the eClosing marathon

She managed that while overcoming the added challenge of having to work remotely. Johnson worked feverishly to build a remote model to support distance-based implementations involving multiple teams and parties, and also created a remote training program to quickly train new DocMagic implementation specialists.

According to HousingWire, the 50 honorees are their companies’ “go-to” team members, the ones companies turn to with their most important and challenging projects.

“This year’s Insiders represent the unsung heroes of their companies; the team that, behind the scenes, kept everything on track during unprecedented times,” HousingWire Magazine Editor Kelsey Ramírez said. “This year, the need for the services of these 50 winners shown greater than ever, and they rose to the challenge.”

Related Content:

• DocMagic teams up with Simplifile to facilitate eClosing adoption (7/27/2020)
• DocMagic's Brian Pannell named winner of Thought Leader Award (6/18/2020)
• DocMagic offers free version of its eSign technology for non-mortgage uses (6/1/2020)

We’re excited to announce that our state-of-the-art, 25,000-square-foot technology center in Torrance, Calif., is up for Architizer’s A+Popular Choice Awards in the “Architecture +Workspace” category!

Click here to vote for DocMagic.

In 2013, our facility was also recognized by the American Institute of Architects with an AIA Institute Honor Award for Interior Architecture.

The AIA jury praised the buildings’ “beautiful design [that] creates a powerful and fluid space where light dominates” and “the effect of ‘fuzzy space,’ a subtle, experiential, and poetic reference to the digital world.”

Check out these stunning photos of our headquarters:

Related Content:

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• AIA recognizes DocMagic for one of the 2013 Institute Honor Awards for Interior Architecture (1/15/2013)