DocMagic, Inc, has integrated its document production and compliance platform with BeSmartee’s application automation technology, the companies announced.
The integration will enable borrowers to complete a loan application and receive disclosures in minutes instead of days or weeks. Once an application is completed, disclosures will be automatically created and presented to the borrower for electronic signature.
“eMortgages offer better speeds, security, quality and accuracy, which translate to a better borrower experience and more efficient, economical operations for the lender,” DocMagic CEO Dominic Iannitti said in a release. “This integration further escalates those benefits by allowing two great technologies to operate at their peak collaborative performance.”
BeSmartee connects borrowers and lenders directly with providers that instantly validate the borrower’s income, asset and credit information. Its auto-population feature helps borrowers complete applications faster with vetted information.
DocMagic technology saves time by generating a fully compliant electronic disclosure package based on the borrower’s information in a matter of minutes.
“The BeSmartee/DocMagic integration avails a level of speed that the industry hasn’t experienced before but that, as more lenders discover its impact on sales and operations, more borrowers will come to expect,” BeSmartee CEO Tim Nguyen said. “Together, we’re delivering the type of speed and service that millennials have come to expect, which is key to securing new business from this coveted group of borrowers.”