DocMagic’s Total eClose™ platform and document preparation software helps leading lender effectively manage expansion and grow strategically 

 

TORRANCE, Calif., June 9, 2021—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, automated regulatory compliance, and comprehensive eMortgage services, announced that AmeriSave Mortgage Corporation, one of the fastest-growing privately-held mortgage lenders in the nation and a pioneer in digital origination, is utilizing its document preparation solution and Total eClose™ platform to drive digital mortgage efficiency. 

AmeriSave has grown exponentially over the past several years, in part, by strategically leveraging DocMagic’s technology to establish system-wide interoperability, enterprise scalability, newfound business process efficiencies, elevated customer service, and compliance adherence. DocMagic’s document preparation solution, eSigning, and eClosing technology has helped AmeriSave operate smoothly throughout a volume intensive environment and enhanced the self-service borrower experience. 

"DocMagic has been a wonderful partner to work with throughout the pandemic and re-fi boom, proving to be a key technology partner that has helped rapidly scale AmeriSave," said AmeriSave CIO, Magesh Sarma. "We look forward to continuing our partnership with DocMagic to establish even more efficiencies for our customers and internal teams."

DocMagic’s solutions integrate tightly with AmeriSave’s proprietary built loan origination system (LOS), which focuses heavily on streamlining the lending process by removing manual touch points using total workflow automation, task management, event triggers, auto calls to vendors, and more. Many of DocMagic’s functions automatically occur at the appropriate time within the workflow of AmeriSave’s LOS  --- without any human intervention whatsoever. This has maximized employee productivity throughout the lending process, not only with DocMagic but with many of AmeriSave’s vendor partners. 

AmeriSave has effectively managed its growth by designing and implementing systems and processes that have been paramount to the company’s continued success. DocMagic’s Total eClose platform has helped AmeriSave expand during the re-fi boom and over the course of the pandemic, with simple and intuitive interfaces for borrowers. 

“AmeriSave understands the importance of always ensuring that borrowers have as many options and tools as possible available at their fingertips to walk away with a good experience that ultimately creates repeat business,” stated Dominic Iannitti, president and CEO of DocMagic. “Everything we do at DocMagic places ease of use, simplification, and elegant design as a top innovation priority, which is reflected by AmeriSave’s ongoing achievements. We are elated that AmeriSave is having such immense success with our technology.”

Total eClose™ is DocMagic’s single-source eClosing solution. It fully automates the closing workflow while leveraging the precision-based accuracy of its intelligent, dynamic document generation capabilities and compliance engine. DocMagic ensures that data and docs are consistent and accurate throughout the origination and closing process. 

AmeriSave has been very successful as an industry leader in digital origination with simplified self-service options for borrowers to engage the loan process directly. Ease of use among DocMagic’s solutions was cited by AmeriSave as a key component of the lender’s self-service consumer direct lending model. Its early adoption to go digital coupled with the company’s commitment to make attaining a home loan as easy as possible for borrowers has been widely recognized and lauded by borrowers. AmeriSave has consistently been ranked a leading lender in the mortgage industry for customer satisfaction, as rated by actual consumers.

Moving forward, AmeriSave has plans to also implement DocMagic’s remote online notarization (RON) capability, eNotes, and eVault to establish further lending efficiencies.

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Regtech solution will consolidate data from multiple servicers and detect loan exceptions for research and remediation

IRVING, Texas, May 4, 2021 – Bizzy Labs, a regtech company that uses a big data approach to perfect mortgage loan compliance during loan boarding and throughout the life of servicing, announced that MCM Capital and its affiliate, Temple View Capital, have selected Libretto from Bizzy Labs for compliance monitoring on their entire portfolio. 

Libretto, a regtech offering from Bizzy Labs, improves loan portfolio compliance by automating identification of data anomalies in loan files, enabling their timely research and remediation. Its comprehensive business rule library is curated by legal and compliance experts and can be configured by loan type. Its systematic and automated approach to loan diligence translates into fewer borrower complaints and higher loan valuations.

"We are pleased that MCM Capital and Temple View Capital have selected Libretto as its compliance monitoring engine," said Gagan Sharma, CEO of Bizzy Labs. "As they work with multiple servicers, Libretto provides a single consistent mechanism to monitor their portfolio."

"We selected Libretto for its advanced design and comprehensive business rules library," said Mike Niccolini, MCM Capital CEO. "It is ideal for monitoring quality and detecting issues that may create compliance risk.”

About Bizzy Labs:
Formed in 2020, Bizzy Labs is the product of BSI Financial's decade-long program to develop a technology-based alternative to manual processes that detect loan file anomalies. A stand-alone company located in Irving, Texas, Bizzy Labs provides regtech services to loan investors, originators and servicers. Its core product, Libretto, improves loan performance and profitability by reducing errors that create compliance risk and servicing challenges. Bizzy Labs is located on the Web at http://www.bizzylabs.tech. 

About MCM Capital:
MCM Capital (“MCM”), along with its affiliate, Temple View Capital, LLC (“TVC”), based in Bethesda, Maryland, is a leading residential whole loan mortgage investor, manager, advisor, and technology provider. MCM’s investment thesis is centered on asset value and servicing arbitrage opportunities created by dislocations in credit markets and underperformance by traditional mortgage servicers. It is located on the Web at https://www.mcmcap.com/.  

Media Contact:
Joe Bowerbank
Profundity Communications, Inc. for Bizzy Labs
949-378-9685
This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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 Most of the loan officers in the industry have never faced a purchase money mortgage market.

 

DENVER, May 7, 2021 -- As mortgage refinance business continues to fall off during the remainder of 2021, many lenders will find their sales staff woefully unprepared to generate new loan sales in a purchase money market, according to Usherpa CEO Dan Harrington. A loan officer himself when he developed the real estate and mortgage industry’s original enterprise CRM technology, Harrington said that lenders who do not invest in sales training now will lose out to those who do. In response, Usherpa has made its Master Ascent Plan, a comprehensive sales training and Learning Management System (LMS), free to users of its automated marketing technology.

“Every lending executive responsible for loan volume is thinking the same thing right now,” Harrington said. “In our conversations around the industry, we’re hearing that lenders have been so busy responding to the business that was coming to them from historically low rates that they have had no time to build new business referral relationships, or even maintain the ones they have. This will cost them in the days ahead.”

Lack of time to nurture these relationships is only one of the trends pointing to a challenging future for lenders. Two more are the increasing average age of today’s working loan officer and the difficulty in recruiting new loan officers into the mortgage business. Lenders hope to recruit originators who already have a book of business made up of past borrowers and top producing Realtor partners, but these professionals are getting harder to find. Lenders will be forced to train their own replacement LOs, who are capable of sourcing, selling and closing purchase money loan business.

Experts from around the industry now agree that the refinance boom that has powered many lender shops for more than two decades is coming to an end. When it does, lenders will have to source new business in a much more traditional manner. This will be very challenging for loan officers who are very new to the business as well as those who are older and unwilling or unable to learn new methods of business prospecting. 

Usherpa’s Peak Performance Program consists of private branch-specific strategy sessions that offer customized tactics designed to focus specifically on each branch’s unique needs. This custom training helps branch managers get the most out of each LO’s strengths while teaching them how to minimize any weaknesses. Usherpa Guides then lead Loan Officers through the creation of their own winning strategies, using the Usherpa platform to increase their production and strengthen their relationships with Realtor partners, in any market and selling any loan products. 

“Loan officers must master the art of building relationships with Realtors if they hope to perform well in the coming purchase money market,” said Chris Harrington, Usherpa’s President and co-founder. “Our Base Camp, Summit Series and Peak Performance MAP modules give loan officers and mortgage brokers the skills they need to reach their goals, in any kind of mortgage market. We empower them to add value to real estate agents so they can win more business. And now, they can get it for free.” 

What started out as a better tool for marketing home loans in 1995 has evolved into the industry’s most sophisticated, cloud-based CRM/Marketing Automation system. Now referred to as Relationship Engagement, Usherpa’s software has helped thousands of loan officers stay connected with partners and clients. These LO’s have helped hundreds of thousands of borrowers fulfill their dreams of homeownership. 

 

 

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