TORRANCE, Calif., Jul 16, 2020 (SEND2PRESS NEWSWIRE) -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that MortgageCountry, a newly formed mortgage banker, has implemented its Total eClose(TM) platform and dynamic document preparation service. Since its launch, the lender has set a new standard for speed -closing loans in an average of 13 calendar days during the first two months of lending aided by DocMagic's 100 percent digital e-enabled documents working seamlessly with its eClosing interface, dramatically enhancing the client experience.
MortgageCountry identified a gap in the industry, dominated by large independent mortgage bankers and financial institutions after the financial crisis, which has significantly increased the consumer cost of a mortgage. The primary reason for rising consumer cost is the industry's reliance on a large outside sales infrastructure, absorption of mortgage brokers, and corporate expense allocations throughout the banking industry.
MortgageCountry is committed to reversing this negative trend while providing best-in-class products and services. Consequently, MortgageCountry partnered with the best of the best technology partners to provide an intuitive and simple platform that meets clients everywhere and anywhere.
MortgageCountry invested a substantial amount of time arriving at a long-term technology strategy that would completely set it apart from competitors. Their vendor due diligence and planning process was extensive, according to MortgageCountry, which entailed close collaboration with DocMagic's eClosing team to fine-tune the process from start to finish.
"To be successful in today's fast-moving, rapidly changing lending landscape, implementing the right technology is business-critical to disrupt an industry plagued with good ideas but poor execution," stated Sheila Salvitti, Director of Communications and Social Media at MortgageCountry. "MortgageCountry has successfully delivered on our promise to make the client experience as simple, quick and easy as possible. After DocMagic tailored Total eClose to our business needs and swiftly implemented the platform, we were flawless from the outset."
Salvitti continued: "DocMagic completely exceeded our expectations, helping us make our origination and closing process next-level efficient and creating a second-to-none closing experience for our clients. After seeing the level of perfection achieved, we knew we chose the right technology partner to realize our belief that the sky is the limit."
MortgageCountry reported that its clients consistently found the process intuitive, speedy and transparent by providing the complete closing documents well ahead of closing. Clients also stated that the process was much more comfortable than their prior experiences because they were able to review and sign the closing documents without the pressure of someone looking over their shoulder, and they valued the ability to sign on their own time without a rigid schedule.
MortgageCountry implemented a technology-forward, intuitive, and client-centric lending platform that meets clients everywhere and anywhere, and is complemented by a dedicated client experience team of industry gurus that are available to chat six days a week, 12 hours a day. MortgageCountry has found the right balance between technology and service to change the way consumers think about the mortgage process.
According to MortgageCountry, paramount to the solution was the utilization of DocMagic's dynamic, intelligent, data-driven loan documents and disclosures combined with Total eClose, which ensures that all data and docs match every step of the way for compliance adherence and the prevention of fraud. Via an integration with MortgageCountry's new loan origination system (LOS), DocMagic seamlessly and bi-directionally exchanges relevant loan data to complete transactions. MortgageCountry credits the ability to start from "scratch" as a competitive advantage in today's landscape where lenders are slow to adopt technology that drives efficiency and client satisfaction.
"It was a pleasure collaborating with the tech-savvy, forward-thinking team at MortgageCountry in a combined effort to master the eClosing process before they ever funded a single loan," stated Dominic Iannitti, President and CEO of DocMagic. "The unprecedented success we had with the solution configuration, troubleshooting and implementation of the platform helped setup MortgageCountry to be one of the most efficient independent mortgage bankers in the country. Using our combined docs and eClosing solutions, they have established a clear competitive advantage while also future-proofing their organization with the most contemporary, innovative technology in the industry."
Of note is that one of MortgageCountry's core underlying missions is to support local communities by donating five percent of its profits. MortgageCountry is fulfilling this mission by funding charities that are important to their clients, which also increases visibility of countless incredible organizations through their philosophy that "what is important to you is important to us."
In addition, MortgageCountry stated that it adopted a fully distributed business model from the outset - a key ingredient of its growth strategy. MortgageCountry is running its business virtually and much more cost effectively, avoiding the overhead required to house employees in corporate locations by implementing a 100 percent browser-based technology that is accessible from anywhere, anytime and any device with an internet connection. MortgageCountry believes its employees should work where they want, when they want and how they want. This affords MortgageCountry the ability to hire the most talented associates without geographic limitations.
About DocMagic:
DocMagic, Inc. is the leading provider of fully compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes, and web- based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com/.
About MortgageCountry:
MortgageCountry, LLC is a direct mortgage lender built to reduce the cost of a mortgage through forward-thinking technology and a re-engineered mortgage process. MortgageCountry is reshaping the mortgage landscape by delivering the "best-in-market" product and unparalleled client experience. Founded in 2019, MortgageCountry has a fully distributed business model attracting the most talented associates without geographic limitations. MortgageCountry is committed to supporting local communities through our philosophy: What is important to you is important to us. For more details about MortgageCountry, visit http://www.mortgagecountry.com/ and follow us on Instagram @MortgageCountry.
Social Media: @DocMagic @MortgageCountry #DocMagic #ComprehensiveEclosings #TotaleClose #DynamicDocumentPreparation #MortgageCountry #TechSavvyLender #GivingBack
Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com
News Source: DocMagic, Inc.
Related link: https://www.docmagic.com/
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/mortgagecountry-perfects-the-eclosing-process-goes-live-with-docmagics-custom-configured-total-eclose-solution-and-dynamic-document-preparation-service/