DocMagic, Inc.’s loan document preparation, regulatory compliance and comprehensive eMortgage services have been integrated into LendingPad’s cloud-based loan origination system (LOS), the companies announced.
The integration enables access to DocMagic’s fully TRID-compliant documents, state-specific disclosures and paperless digital mortgage process from within LendingPad’s LOS.
“DocMagic believes in establishing system-to-system connectivity to as many parties as possible in order to efficiently and expeditiously complete transactions and close loans on time,” DocMagic Director of Business Development Steve Ribultan said in a release. “Partnering with LOS providers like LendingPad is key to our goal of eliminating paper, ensuring compliance, and making the end user’s job as easy as possible.”
DocMagic said its platform automates data and document validation throughout key phases in the lending process with continuous compliance checks.
“We are pleased to partner with the industry-leading loan document preparation provider and look forward to a long-term relationship with DocMagic,” said Wes Yuan, managing director at LendingPad maker WEI Technology. “With both of our platforms being completely SaaS and cloud-based, there are a number of additional capabilities we can jointly leverage to make the life of the lender, originator and borrower much easier via digital lending.”