DocMagic continues its push to bring the mortgage process online, announcing it formed an exclusive relationship with World Wide Notary to deliver a fully paperless eClosing solution.
WWN’s patent pending DigaSign eNotary technology will be integrated into DocMagic’s eServices platform to deliver a fully paperless eClosing solution, the companies said.
WWN is a developer of electronic notarization services for a variety of different industries. Multiple Secretaries of State under the National Association of Secretaries of State eNotary standard certify the company, along with all states that have approved the Uniform Electronic Transactions Act.
DocMagic said in an interview with HousingWire earlier this year that its biggest opportunity in 2015 will be ‘riding’ the eWave. “This means that we will be material in transitioning increasingly greater numbers of our customers to an eEnvironment that is highly regulated and highly competitive. Customers are unique and one size doesn’t fit all. It will be a time of great learning for everyone in this market --- everyone,” said Don Iannitti, president and CEO of DocMagic.
And with this new partnership, borrowers, lenders, settlement agents and mobile notaries can eSign documents and eNotarize, online and offline.
“DocMagic has systematically been putting the necessary pieces in place to transform the company into a true end-to-end eServices solutions provider. Our exclusive arrangement with WWN incorporates a critical component: compliant eNotarizations. Without compliant eNotary capability, a fully paperless eClosing would be impossible to achieve,” said Iannitti.
Under the agreement, DocMagic has exclusive rights to utilize WWN’s eNotary platform within the mortgage industry for an extended period of time. The two companies have already begun introducing the service to clients.