Texas Capital Bank has successfully completed its first eClosing via DocMagic’s digital mortgage platform, eClose. This makes Texas Capital one of the largest warehouse lenders in the industry to accept and fund eNotes.
Texas Capital, which provides warehouse credit facilities for mortgage lenders and originators, recently funded its first eNote, a technology that allows servicers to speed up the closing and loan sales process.
According to a release from Texas Capital, the eNote was “instantly delivered to the bank, registered with MERS, and securely stored in DocMagic’s eVault.” It was completed electronically and delivered to Fannie Mae within minutes.
Total eClose is a DocMagic platform that offers a digital, paperless closing process. According to Texas Capital EVP Donnie Martine, the technology has been a game-changer for the bank.
“DocMagic’s eClosing and eMortgage solutions have provided Texas Capital Bank with the tools necessary to incorporate the funding of eNotes into our everyday operational procedures,” Martin said. “We believe the digital mortgage revolution and acceptance of eNotes will continue to grow. We are pleased to have partnered with DocMagic to build out the infrastructure needed to support the eNote funding process at the bank, which in turn supports the trend towards digital mortgages.”
DocMagic’s President and CEO Dominic Iannitti praised Texas Capital for its move toward more digital solutions.
“It’s very rewarding to support Texas Capital Bank as they move forward and break ground as an eWarehouse leader,” Iannitti said. “In this industry, it’s forward-thinking, tech-savvy organizations like this that thrive, set the pace and reach their goals. They understand the fundamental role that advanced technology plays in their—and the industry’s—progress. We look forward to collaborating further as we help drive true end-to-end eMortgage adoption.”