San Francisco-based automated mortgage transaction technology provider Roostify has announced that it has completed integration with DocMagic, a provider of loan document preparation, compliance, eSign, and eDelivery solutions headquartered in Torrance, California.
With the integration, consumers will be able to securely access, receive, review, and sign all initial disclosure documents at the time of application directly from Roostify’s platform—by using DocMagic’s proprietary eDelivery and eSignature system.
“The integration streamlines the process of borrower receipt, execution and return of electronically signed initial disclosures, while reducing errors and documenting compliance with a complete electronic audit trail. This process improves the borrower experience while expediting loan closing,” said Steve Ribultan, Director of Business Development at DocMagic.
Ribultan continued, “The ability to provide borrowers with the required initial disclosures at the time of completing an application, as well as allowing them to eSign their documents is a key differentiator lenders are looking for in today’s regulatory environment. Roostify’s seamless connectivity to DocMagic’s sophisticated, compliance-focused loan document solutions takes their platform to the next level.”
Loan officers can present consumers with real-time disclosure documents and other home loan documentation complete with proof of compliance with TRID by using Roostify’s platform. Consumers can access and complete the forms and documentation within the Roostify platform, the same place where they submitted their loan application and collaborate with their real estate agent. Consumers can access Roostify’s platform from anywhere that has an Internet connection—including a mobile phone.
“One of the most complex elements of the mortgage completion process is providing customized documents to consumers and retrieving them back in a timely fashion, particularly given the current regulatory environment for lenders,” said Rajesh Bhat, CEO of Roostify. “The integration with DocMagic offers our customers and their customers an easy way to share and sign documents more efficiently, saving time in the process. Consumers gain the convenience of viewing and signing all necessary documents from a single platform, while lenders and loan officers can be sure that they have what they need to remain compliant with evolving industry regulations.”
DocMagic, which was founded in 1988, surpassed more than 100 million eSignatures in 2015; that number has grown as the company has increasingly adopted eDelivery and eSigning technology within the mortgage and other industries.
