Redesigned user-centric platform dramatically improves borrower signing experience
TORRANCE, Calif., Oct. 6, 2021—DocMagic, Inc., the premier provider of fully compliant loan document preparation, automated regulatory compliance, and comprehensive eMortgage services, announced the official launch of its eSign 3.0 platform. The enhancements to the mortgage industry’s preeminent eSigning platform introduce new tools and features designed to enable lenders to easily facilitate remote online notarization (RON) for paperless eClosings.
Among eSign 3.0’s new features is a secure eClose portal that enables notary and settlement service providers to easily access and update closing document packages. When documents are added by the closing agent or notary, DocMagic’s AutoPrep™ functionality instantly prepares the uploaded documents for electronic execution.
In addition to new RON and eClosing capabilities, signer functionality has been dramatically improved with eSign 3.0. With a growing percentage of borrowers using their mobile devices to participate in the mortgage process, eSign 3.0 offers a much more intuitive — and therefore easier — experience for borrowers.
“We developed eSign 3.0 by making the borrower experience our primary focus,” said Dominic Iannitti, president and CEO of DocMagic. “The workflow takes both the user's physical and emotional experiences into account. We paid close attention to the way users physically handle their phones as well as their emotional responses to technology. The result is a far more statisfying borrower experience.”
Other benefits of the updated platform include built-in knowledge-based authentication and identity validation; a redesigned workflow to give borrowers additional time to read and review documents in a single, centralized view; an accelerated signing phase where intuitive tools track progress at every stage; and full oversight until all documents are executed. The platform’s integrated progress-tracking tools can be used on a computer or mobile device to keep borrowers aware of their progress every step of the way.
“It all starts with a robust API,” said Iannitti. “eSign 3.0 is powered by a comprehensive suite of web services designed specifically for seamless integrations. The end result is that eSign 3.0 makes borrowers feel more connected and informed, so they’re confident about working with their lender and walk away having enjoyed a more positive and memorable engagement.”
The eSign 3.0 platform leverages the company’s suite of eMortgage solutions, including components of its end-to-end Total eClose™ platform, dynamic document and MISMO Category 1 SMART Doc® eNote generation, automatic eNote registration with MERS®, and secure storage within its certified eVault.
eSign 3.0 also incorporates DocMagic’s AutoPrep™ technology to instantly identify signatures, initials and notary regions on documents added to the closing package by settlement and title agents, and automatically applies the essential e-tag information required to facilitate electronic execution. This eliminates the labor intensive and error-prone process of manually preparing documents for electronic execution.
The company will be showing demonstrations of its solution suite at the MBA Annual Convention & Expo in San Diego from Oct. 17 – 19, booth 314.