Lender achieves full eClosing benefits, faster and more reliably, as the result of DocMagic’s consultative implementation process, single-source platform, and intuitive UI
(TORRANCE, Calif.) — NEWS: DocMagic, Inc., the premier provider of fully-compliant and document preparation, regulatory compliance and comprehensive eMortgage services, and SecurityNational Mortgage Corporation (SNMC), an independent national mortgage banker, jointly announced that they successfully rolled out DocMagic’s comprehensive Total eClose(TM) platform.
Since rolling out Total eClose in September, SNMC has reduced borrower time at the closing table to as little as 15 minutes, and become one of the first national lenders to offer a true eClosing solution that involves no paper whatsoever. It has dramatically sped up the closing process, ensuring accuracy and loan quality, and delivering newfound efficiencies for borrowers, notaries and settlement providers. Total eClose enables SNMC’s customers to preview documents prior to closing, eSign all documents, and complete both remote and in-person eNotarizations. As a result, SNMC is now positioned to capture more market share, reduce operational costs, expedite closing times and elevate the borrower experience.
“Our goal was to perfect a completely digital eClosing process, not to be just another lender offering a basic hybrid closing,” said Steve Johnson, president of SNMC. “Achieving our goal required a powerful end-to-end technology, a perfectly executed seamless implementation, and an intuitive interface that everyone-staff, settlement service providers and borrowers-could use immediately, without a steep learning curve. We got that and more with DocMagic. Plus, the DocMagic implementation team was with us all the way. We never had to worry about a thing.”
The two companies approached the project as partners to ensure swift adoption and a quick understanding of the new workflow-driven eClosing process for both SNMC’s staff and customers. DocMagic worked hand-in-hand with the lender, leveraging its vast eMortgage expertise to help sculpt a unique strategy and a successful go-to-market launch. Unlike other document and eClosing solution providers, DocMagic takes an ultra hands-on approach to implementations, from developing the project roadmap, to training all parties-such as staff, title agents and notaries-to synchronized testing of each facet of the Total eClose platform.
“Our implementation teams function like expert consultants-we work very closely with each client, guiding them literally every step of the way,” said Dominic Iannitti, president and CEO of DocMagic. “There is a huge number of moving pieces in an eClosing solution. As a single source solution, we have intricate knowledge of every one of them, so there are none of the issues that plague other providers-not only immediately after the implementation, but over the long haul as well. In contrast, lenders who choose incomplete or cobbled-together eClosing technologies may have to hit the restart button within 12 to 18 months and search for a comprehensive solution.”
DocMagic is a recognized eClosing pioneer, and has been a part of virtually every state-first eClosing in the U.S.
“We’re pleased to work with companies like SecurityNational Mortgage that truly understand the value of implementing a 100 percent paperless eClosing process,” said Iannitti. “They have taken a leadership position in facilitating eClosings and are ready for an inflow of new business that will be conducted very efficiently.”
DocMagic’s comprehensive suite of eSolutions and eServices also includes SMARTDocs, eNotes capability, eVault technology, eWarehouse lending, and even loan 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 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 SecurityNational Mortgage Company:
SecurityNational Mortgage Company (SNMC) is an award-winning retail mortgage lender. Headquartered in Salt Lake City, Utah, the company has 102 offices across the nation and is currently licensed in 44 states. SNMC is a wholly-owned subsidiary of Security National Financial Corporation, a publicly traded company (SNFCA – NASDAQ(R)). Founded in 1993, SNMC is celebrating its 25th year in business and is proud to have helped thousands of homeowners each year with their home purchases and refinances. SecurityNational Mortgage Company is an Equal Housing Lender (NMLS 3116). For more information, visit https://snmc.com/.
REF: NASDAQ:SNFCA
Related link: https://www.docmagic.com/
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