DocMagic, Inc. announced the passing of its founder, President and CEO Dominic Iannitti.
Iannitti, died July 18 due to complications from pneumonia, the company said.
Peers at DocMagic called him a visionary leader, innovator, entrepreneur and prominent figure within the mortgage industry.
“As we mourn the loss of our friend and business inspiration, DocMagic’s longtime leadership team is well-prepared to remain steadfast in our mission and commitment to excellence in the mortgage technology space,” Chief Operating Officer Lori Johnson said in a release. “We have already implemented a comprehensive succession plan to ensure a seamless transition.”
Pat Theodora, DocMagic’s chief financial officer and Iannitti’s business partner of 37 years, will take over as president and CEO.
Theodora has been with Iannitti since the inception of DocMagic and is extremely familiar with the company’s culture, vision, operations, finances and growth trajectory.
“The entire family at DocMagic is deeply saddened by Dominic's passing,” Theodora said. “He was a true pioneer in our industry and a mentor to many. I am committed to honoring his legacy by continuing to drive innovation and deliver exceptional solutions to clients. This is what my friend and partner would have wanted, and I am laser-focused on implementing the company’s succession plan without any interruption to operations.”
Iannitti founded DocMagic, Inc. in 1987 with a vision to streamline the mortgage process and ultimately eliminate the reliance on paper – via the power of domain-rich enterprise technology. He is credited with automating the loan document preparation, management, and delivery processes; pioneering eVault and eSign capabilities; introducing the first end-to-end eClosing platform; and many other notable mortgage technology advancements.
“Throughout his career, Iannitti was consistently celebrated and commended across the industry – not only for his software innovation, but also for his genuine care for employees, clients, partners, and associates,” DocMagic stated. “He fostered a dynamic company culture rooted in innovation, integrity, and collaboration. His legacy of leadership, trailblazing accomplishments, and technological advancements will continue to inspire and guide DocMagic for years to come.”
Iannitti’s achievements earned him numerous awards, accolades, and commendations. Last month, the Mortgage Bankers Association named Iannitti a rare, second-time recipient of its Tech All-Star Award – an honor that highlighted his ongoing successes in facilitating electronic loan transactions and driving eMortgage adoption.
Additional accolades earned that reflect Iannitti’s industry accomplishments and contributionsinclude: The Title Report’s Innovation award; Inc. 5000’s Fastest Growing-Private Companies list; Mortgage Banker’s Legends of Lending award; MReport’s Top Industry Leader & Influencer award; PROGRESS in Lending’s Lending Luminary award; NMP’s Top Mortgage Employers award; MPA’s 5-Star Tech Providers list; Mortgage Technology magazine’s Top 50 Service Providers list; and many other commendations.
“DocMagic employees expressed collectively their gratitude for Dominic’s significant contributions and the indelible impact he has made on them and the industry at large,” the company added. “The entire DocMagic family extends its deepest condolences to the Iannitti family during this difficult time.”
Details regarding memorial services will be shared as they become available. In lieu of flowers, the family requests that donations be made“In memory of Dominic Iannitti” to one of the following entities that were close to Dominic’s heart:– the World Family Foundation (Worldfamilyfnd.org) and/or Lunada Bay Little League (Lunadabayll.com).