New Jersey-based data intelligence and vendor management firm, Secure Insight [1], has teamed with DocMagic, Inc. [2], a provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, to develop and host an online training program to teach attorneys, title agents, notaries, and other entities how to accomplish clear, compliant and completely paperless eClosing transactions.
Secure Insight noted that while lenders have made good progress installing digital mortgage point-of-sale solutions, it is just the initial step to implement a true eClosing solution. DocMagic developed Total eClose, a comprehensive solution that enables a 100 percent paperless eClosing process from start to finish using a single-source vendor.
“Getting over the adoption hump starts with the ease of use and adequate training so users feel comfortable conducting business within the eMortgage ecosystem,” stated Andrew Liput, President of Secure Insight. “We partnered with DocMagic because their Total eClose solution is one of the easiest and most intuitive in the industry, which is conducive to adoption for title agents, attorneys, and notaries to understand and leverage.”
Secure Insight has a database of more than 70,000 closing professionals that can take advantage of this vital training program, which provides the educational foundation for their business practices to include eMortgages and eClosings.
Tim Anderson, Director of eServices at DocMagic stated: “The new training program and centralized database will provide key information and knowledge for professionals about our industry-leading Total eClose technology and assist lenders in locating professionals who are qualified to leverage it for the benefit of consumers. Further, one of the primary issues it solves is that in a purchase market, lenders really don’t choose the settlement professionals and typically don’t have direct relationships with them either nor the dedicated resources to continually train them to effectively support full eClosings. The online training eMortgage Education Module helps alleviate this impediment.”
Company officials at Secure Insight say their ultimate goal is to become the industry’s go-to resource for lenders to access settlement professionals who are well-trained in eClosings, similar to what the Nationwide Multi-state Licensing System & Registry (NMLS) provides for loan officers. Lenders can provide a list of approved title companies and Secure Insight then works to implement a common and consistent process for training on a national level.