DocMagic, a provider of compliant loan document preparation, compliance, eSign and eDelivery solutions, announced a multi-year license agreement with PHH Mortgage (PHH) to use its products to help ensure compliance with TRID.
Under the agreement, PHH, its clients and their borrowers can access DocMagic's eSign/eDelivery technology that enables the electronic delivery of TRID documents and the electronic viewing of closing disclosures and related documentation.
“We have worked closely with DocMagic for the last year to thoroughly evaluate, test and integrate their technology and compliance solutions, and we will use various components to ensure we are TRID compliant," said Eric Sadow, chief compliance and fair lending officer with PHH Mortgage.
In addition, DocMagic's Audit Engine electronically tracks and logs transactions touched by all parties working with its Compliance Engine as well as its SmartCLOSE portal.
DocMagic developed SmartCLOSE in order to integrate with loan origination systems for a seamless exchange of data and related information.