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) 

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’s Chief eServices Executive Brian D. Pannell will be leading a webinar for the Electronic Signature and Records Association (ESRA) this Thursday, Dec. 3, at 10 a.m. PT/1 p.m. ET.

The webinar, “Hindsight is 2020 — A Focus on eMortgage Technology and How it Was Tested,” is free to the public and will focus on how the mortgage industry has responded to the pandemic.

ESRA is an industry trade association that works to advance the adoption of digital transactions. Pannell serves on its Board of Directors.

This year mortgage technology—especially eNotarization—evolved in order to meet the challenge of closing safely in a pandemic. “eNotarization morphed into limited-touch notarization,” Pannell notes. This led to a rush by states to pass temporary emergency orders to allow remote online notarization (RON) closings, but also alternatives such a remote ink-signed notarization (RIN) and socially distanced in-person notarizations.

After seeing up close how lenders and borrowers have adapted to pandemic-driven changes in 2020, Pannell will share his insights and stories from the field about the mortgage industry's new tech normal.

Related Content:

• RON update: Lots of forward momentum—but also a setback (6/26/2020)
• DocMagic's Brian Pannell named winner of Thought Leader Award (6/18/2020)
• Webinar: How mortgage industry should adapt to COVID landscape (6/3/2020)

The Internal Revenue Service (IRS) recently released a new version of Form 4506, as Form 4506-C, IVES Request for Transcript of Tax Return (version September 2020). 

Previously, the IRS posted an updated Form 4506-T (version June 2019) which removed Line 5a, which covers mailing tax transcripts to third parties, and replaced the “Caution” statement after Line 5 with the following “Note: Effective July 2019, the IRS will mail tax transcript requests only to your address of record. See What’s New under Future Developments on Page 2 for additional information.” This updated version of Form 4506-T could no longer be utilized for third party tax transcript requests, but the IRS continued to accept the prior March 2019 version which does allow for third party requests.

How a new lender found success amid the pandemic: Download the MortgageCountry case study

With the release of the new Form 4506-C, the IRS announced it will only continue to accept Form 4506-T (version March 2019) for all tax transcript order requests through Feb. 28, 2021.

Starting March 1, 2021, only Form 4506-C will be accepted for use by authorized Income Verification Express Service (IVES) Participants to order tax transcripts records electronically. Line 5a of the new form allows for participating IVES Participants information to be entered.

DocMagic postponed changing to Form 4506-T (version June 2019) and has continued to provide the March 2019 version of the form so that it could continue to be used by all customers and our IVES partners.

DocMagic will make the new Form 4506-C (DocMagic Form ID: 4506C.MSC) available upon request starting Nov. 19, 2020. Currently, DocMagic is working on implementation with IVES partners and awaiting guideline updates to be made by agencies and the secondary market to allow use of the new form. DocMagic will announce the default addition of Form 4506-C to initial and closing packages in the coming weeks.

Should you have any questions, please contact DocMagic’s Compliance Department at compliance@docmagic.com.

Related Content:

• CFPB's 5-year TRID assessment produces mixed results (10/15/2020)
• California enacts consumer financial protection law (10/7/2020)
• The redesigned URLA will be required in 5 months; are you ready? (9/24/2020)

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)

Maintaining an effective Compliance Management System (CMS) entails each lender’s structured plan for meeting regulatory compliance. Developing training manuals and documents — the people, training, procedures — is just part of implementing a working CMS. It’s critical for lenders to implement automated technology solutions to ensure standardization, consistency and verifiable compliance across their entire operation. 

Electronic document generation coupled with automated compliance is key to delivering a verifiable service protecting all parties in the mortgage process. Providing a scalable and adaptable set of tools, DocMagic’s automated compliance solution allows lenders to respond quickly and easily to shifting regulatory requirements. 

What sets DocMagic apart

DocMagic’s automated compliance solution provides data validation checks and audits throughout the entire mortgage process. Maintaining an unbroken chain of electronic evidence is critical for mitigating risk and to deliver proof of compliance to auditors. 

With automated compliance integrated within a suite of digital mortgage technology, everything can be offered in one streamlined system. “Compliance automation technology supplied by a single vendor means flexibility, scalability and real efficiency of due diligence efforts,” said Dominic Iannitti, president and CEO of DocMagic.

How it works

DocMagic’s automated compliance solution consists of in-house compliance, seamless XML document preparation, the Automated Audit Engine, Loan Detail Report, an extensive library of electronic SMARTDocs, eSign, eDelivery, and eClosing technology along with integrated eNotary, eVault and SmartREGISTRY technology. 

Utilizing embedded signatures and notary tags from the start, data is audited at the loan level; including data validation, compliance review, TRID tolerance, QM/ATR, predatory lending, RESPA, GSE salability analysis and more. 

Every process, audit and data transaction is electronically tracked, logged and recorded. The eVault houses the entire audit trail, accessible at any time to support a lender’s CMS requirements. “Our certified eVault preserves the authoritative digital ownership of electronic records. This is crucial for clients looking to the future as the loan market continues to transition to a paperless process,” Iannitti said.

“We tell lenders not to settle for short-term fixes but to focus on the long term. DocMagic’s  automated compliance supports your CMS now, and readies you for digital adoption,” Iannitti said.

What Customers Say:

Customers know that at any given time, a complete audit trail can be provided to show proof of compliance. Our compliant process ensures authentication of original documents passing between owners, regardless of how many duplicate electronic files there may be of the same record. DocMagic’s eVault has been thoroughly vetted by Fannie Mae, Freddie Mac, and MERS to compliantly support eVaulting services.  And to back it up, DocMagic offers lenders an extensive set of reps and warrants backed by an insurance guarantee.

As featured by HousingWire, July 2018

The committee is comprised of select subject matter experts

TORRANCE, Calif., Nov. 28, 2017 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Jonathan Kearns has been appointed to the Mortgage Industry Standards Maintenance Organization (MISMO) Residential Standards Governance Committee.

The committee is comprised of select subject matter experts, nine of which who will began their two-year term on Jan. 1, 2018 through Dec. 31, 2019. The Mortgage Bankers Association (MBA) is the parent corporation of MISMO and is actively involved in the organization’s ongoing contributions to the industry.

The Residential and Commercial Standards Governance Committees report to MISMO’s Board of Directors. The committees are responsible for administering and overseeing MISMO’s activities specific to the Standards. This includes providing guidance to the MISMO workgroups; establishing and managing the MISMO Reference Model release schedule; conducting oversight to ensure that standards development is occurring in conformance with established policy; and maintaining the architectural consistency of the MISMO Standards.

Jonathan is the senior vice president of technology solutions at eSignSystems, a division of DocMagic, and has been with the company since its 2014 acquisition of eSignSystems from WAVE. He has been instrumental to DocMagic in advancing business processes and developing workflows that incorporate electronic documents, eSignatures, eVaulting and other paperless mortgage solutions.

“We congratulate Jonathan on his appointment to the MBA’s MISMO committee to provide his expertise in helping move the mortgage industry forward,” said Dominic Iannitti, president and CEO of DocMagic. “Jonathan exemplifies a forward-thinking mortgage technologist who is always innovating and arriving at better, more efficient ways to solve business problems. DocMagic believes strongly in being a thought leader and giving back to the mortgage industry. We are an active participant in MISMO at the Champion level and Jonathan volunteering his time for the next two years to serve on the MISMO Governance Committee reflects this continued commitment.”

Prior to Jonathan’s appointment, DocMagic’s director of eServices Tim Anderson also volunteered his time, serving on both the MISMO Governance committee as well as the MISMO board for a total of four years.

DocMagic is a pioneer of comprehensive eMortgage solutions and services for the mortgage industry, developing leading-edge products that fully support an end-to-end, 100 percent paperless digital mortgage process. For years, the company has been at the forefront of leading the charge in evangelizing the benefits and adoption of a complete eMortgage across the entire supply chain — from the point-of-sale through eClosing, eWarehouse lending, secondary marketing and even servicing.

About DocMagic:
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 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 MISMO:
MISMO® is the voluntary standards development body for the mortgage industry. Voluntary use of MISMO standards reduces processing costs, increases transparency and boosts investor confidence in mortgages as an asset class, while creating cost savings for the consumer.

For more information, visit http://www.mismo.org/

There's so much happening at this year's 2017 MBA Annual! Are you ready? Stop by booth 707 to learn how DocMagic's digital technology is helping lenders to close on fully paperless mortgages. Total eClose™, our suite of seamless, end-to-end, digital eClosing technology, is providing solutions to problems across the mortgage lifecycle. Read more see what else we have in store for the event.

TechLIVE —  Fintech Solutions to Digital Mortgage
October 25th — 9:00 AM - 10:30 AM Level 3 - Four Seasons Ballroom 1
Tim Anderson, DocMagic Director of eServices

Learn about opportunities to digitally transform your operation and how lenders and agents are collaborating through technology.

Add to Calendar!

 

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ROCKIN' IN THE ROCKIES! DOCMAGIC SPONSORED EVENT!

Sunday, October 22, 2017
6:00-10:00pm | Denver, CO.
We're kicking off MBA Annual with a party! 

Join us for dancing, appetizers, and rock n' roll. 
RSVP NOW for this exclusive event! 

RSVP NOW!

 

 

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DOCMAGIC'S GSE-CERTIFIED UCD SOLUTION
Is your UCD process ready? We're making it easy for you to implement successful UCD submissions to the GSEs. Our GSE-Certified solution allows you to satisfy 100% of the mandate far in advance of the 2018 deadline:

• Generate & deliver UCD files to your GSE of choice
• UCD file with embedded PDF of the CD
• Borrower (and seller) data in the UCD file format
• Integrated via DocMagic’s API
  
  

Schedule a Meeting!

 

TORRANCE, Calif., September 1, 2017 

Mike Zarrilli thrives in the fast-paced, dynamic environment at DocMagic. As COO, he has a critical role ensuring that company operations run smoothly and efficiently. 

Amid an ever-changing, compliance-intensive mortgage landscape, DocMagic has experienced major growth during the past five years, realizing a 42% increase in revenue for 2016, the second time revenue has increased by more than 40%. Zarrilli is instrumental in helping to effectively manage this hyper-growth from an operations and budgeting perspective, ensuring the company expands at a healthy, controlled rate.

Zarrilli was heavily involved in the integration of DocMagic’s acquisition of Document Express in 2014, leading the project plan to integrate the two companies’ infrastructures. Zarrilli recently helped organize the strategic alignment of DocMagic’s enterprise sales team with its customer service department, improving transparency, ease of communication and collaboration.

“Mike is masterful at bringing different teams members together to coordinate and understand DocMagic’s different undertakings for the benefit of partners and clients.”

For more information, visit https://www.housingwire.com/.  

DocMagic, Inc. is proud to announce that president and CEO, Dominic Iannitti, was honored by HousingWire with its 2016 Vanguard Award, which recognizes top mortgage executives for professional accomplishments and for their positive impact on the industry at-large.

The Vanguard Award list is limited to business unit executives within the housing and mortgage finance spheres, specifically those who stand out as innovators and trailblazers. The bar is set extremely high, so all Vanguard nominees represent the highest caliber and demonstrate substantial industry influence.

“The HW Vanguards continues to impress going into its second year; the winners are second-to-none and this list represents the finest cross section of mortgage talent available,” said Jacob Gaffney, HousingWire editor-in-chief.
This was a momentous year for Iannitti. 2016 saw the launch of two industry-altering platforms at DocMagic, and Iannitti’s role at the helm of those projects no doubt earned him a spot on the Vanguard list.

In the first half of the year, Iannitti led the charge in rolling out SmartCLOSE™, DocMagic’s award-winning collaborative closing portal, a solution for TRID compliance that brings lenders, settlement service providers, and other relevant parties together in a secure environment to share, edit, validate, audit, track, and collaborate on documents, data, and fees. Since its launch, SmartCLOSE has gained rapid industry adoption, proving it to be a true game-changer in loan closing today.

Following the launch of SmartCLOSE™, Iannitti shifted his focus to DocMagic’s single-source Total eClose™ solution, where he once again played an integral role in the project’s conception and development for the marketplace. The Total eClose™ suite contains all of the components needed to facilitate a completely paperless digital closing — from start to finish.

By October of 2016, DocMagic completed the mortgage industry’s first comprehensive eClosing for radius financial group, inc. The eClosing included both lender and closing/settlement agent documentation, eNotarization, eWarehousing and eNote acceptance. Unlike other so-called eClosing solutions (often merely hybrids which still require that certain documents be papered out), DocMagic’s centralized Total eClose™ platform facilitates a truly paperless digital closing, an industry milestone that cannot be underestimated.

“I am very honored and humbled to have been selected by HousingWire’s editorial board to appear on this list of esteemed mortgage executives,” commented Dominic Iannitti, president and CEO of DocMagic. “This award is absolutely the result of our continual technology innovations and the unwavering commitment and enthusiasm of the exceptional team at DocMagic.”