DocMagic has launched eDecision, a solution to expand the level of analysis applied to e-eligibility determination for eClosings.
The company said the new product offers a clear-cut, highly accurate decision for users, informing them of how far they can take a digital closing based on the unique attributes of the loan transaction, including county-level eRecording acceptance.
“Our goal in developing eDecision was straightforward: to help clients execute flawless eClosings and bring a new level of automation to the overall process by providing lenders with an immediate determination of how ‘e’ they can be,” Dominic Iannitti, DocMagic president and CEO, said in a release. “Simply put, eDecision equates to eSuccess for all parties involved in the closing process.”
The new solution does not require users to leave DocMagic’s platform, visit another website, use a third-party application, or access an ancillary database. All of eDecision’s offerings is available within the company’s core process and is a component of the eClosing workflow.
eDecision is powered by DocMagic’s audit engine, beginning with the decisioning process as soon as the first set of disclosures are generated and continuing with e-eligibility checks throughout the process. DocMagic stated the solution accesses and complies first-party data and leverages an immense amount of information to improve the digital closing process.