MISMO Certifies DocMagic’s Total eClose™ Platform and Proprietary RON Technology – The Durango Herald
MISMO’s eMortgage technology certification program awards both certifications to the DocMagic platform
TORRANCE, California, May 24, 2022 (SEND2PRESS NEWSWIRE) – DocMagic, Inc., the leading provider of compliant loan document generation, automated regulatory compliance and comprehensive electronic mortgage services, announced that it has achieved the electronic closing system of MISMO and Remote Online Notarization (RON) certifications for your Total eClose ™ solution.
Both certifications are part of MISMO’s eMortgage technology certification program created to support, advance and increase the adoption of digital solutions by the mortgage industry and is specifically designed to facilitate and encourage electronic closing transactions. In addition, RON certification confirms that the platform, procedures, and vendor policies meet MISMO standards, and eClosing certification confirms that the platform meets MISMO-specific requirements.
MISMO standards are widely accepted and used in the real estate financial industry and most major institutions, including government agencies and GSEs, use MISMO standards to exchange data with business partners. In addition, agencies such as the CFPB have made it clear that their data analysis and exchange tools will be based on and conform to the MISMO standard.
DocMagic became a Certified MISMO Compliant for eClosing in February this year and is the only document generation provider with eClosing certification. In 2021, DocMagic’s RON capability was offered to its existing customer base. The company’s Certified RON solution integrates seamlessly with the industry-leading Total eClose platform, enabling providers and their borrowers to experience a fully digital closure.
“We are pleased to have received these important certifications, which set standards that enhance the ability of providers to evaluate electronic enclosure technology providers,” said Dominic Iannitti, President and CEO of DocMagic. “DocMagic has consistently advocated for the use of eClosing and RON technology in an effort to advance the industry. These certifications help facilitate the adoption process and we fully accept them.”
DocMagic’s Total eClose platform is a single-source solution that contains all the components needed to run completely paperless eClosings. The award-winning innovation was the first of its kind to be introduced to the mortgage sector in 2014 and has since gained widespread market adoption.
DocMagic, Inc. is the leading provider of fully compatible document generation, automated compliance, electronic signature and comprehensive electronic mortgage solutions for the mortgage industry. Founded in 1987 and based in Torrance, California, DocMagic, Inc. develops award-winning software, mobile applications and web-based systems for the production and delivery of loan document packages that meet the requirements. The company’s solutions connect industry participants, promote collaboration, and ensure data integrity to execute precision-based digital loan transactions. Company compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. To learn more about DocMagic, visit https://www.docmagic.com/.
MISMO is the standards development body for the real estate financial sector. MISMO developed a common language for exchanging information for the mortgage financing industry. Today, MISMO standards are accepted and deployed by all types of mortgage lenders, and are required by most regulators, housing agencies, and GSEs involved in the industry. It has been found that using MISMO standards reduces loan costs, improves margins, reduces errors, and speeds up the loan process by reducing paper-based manual processes, while saving costs for the consumer. For more information, visit https://www.mismo.org.
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NEWS SOURCE: DocMagic, Inc.
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