Press Releases & White Papers
Advanced Data Leverages DocMagic's eSign Platform to Automate Income Tax Verification (4506-C) Ordering
New seamless integration enhances the borrower experience, speeds up lender turn times and reduces origination costs
Boston, Mass., Oct. 24, 2016 – DocMagic, the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, today announced at the MBA’s Annual Convention and Expo 2016 that customers can now place orders through its platform for the Income Tax Verification (ITV) 4506-C product from Advanced Data, a mortgage industry leader in enterprise-wide fraud prevention, compliance and enhanced verifications.
The addition of Advanced Data’s ITV product to DocMagic’s platform adds a top-tier service provider, one that has created innovative solutions that have enhanced the origination process with automated services, improved accuracy, and achieved standard-setting customer service levels. Ordering ITVs through DocMagic’s platform is simple, cost effective, and completely automated.
The new integration leverages DocMagic’s eSign technology to automate the process of ordering the 4506-C once the borrower electronically signs the Transcript Request form, thus avoiding the use of paper and eliminating delays that traditionally accompany the requirement of a wet signature. As a result, the order placement process is instantaneous and the borrower experience is exceptional. For lenders, the functionality reduces operational costs and dramatically speeds up turn times.
“Our Income Tax Verification 4506-C product has one of the fastest turn times in the mortgage industry that we support with a dedicated, results-oriented customer service team, and a proprietary, end-to-end technology offering that delivers optimal performance for our customers,” said Allen Johnson, CEO of Advanced Data. “Customers know that we will provide the capability to complete an ITV in an automated, efficient and cost effective manner, and we are thrilled to offer it through DocMagic’s platform. Given the new regulatory scrutiny lenders face, that’s more important than ever.”
Both companies are known for delivering outstanding products that combine speed, ease of use and accuracy. The result is technology that helps lenders reduce costs, generate productivity gains and achieve a competitive advantage.
“We are pleased to add Advanced Data as one of our best-in-class integration partners,” said Dominic Iannitti, president and CEO of DocMagic. “They have a strong reputation in the industry for efficiently delivering the ITV product via their proprietary SaaS-based platform that is backed by excellent customer support.”
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 1988 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 https://www.docmagic.com.
About Advanced Data
Advanced Data is recognized as the standard for enterprise-wide mortgage data integrity, specializing in fraud prevention and enhanced verifications. Its proprietary technology is integrated with loan origination systems, and the firm offers a SaaS platform for clients that prefer a custom solution. Its services include Income Tax Verification Form 4506- Ts, streamlined verifications and re-verifications of employment, fraud reports, multiple levels of social security number verifications, AVM plus property inspection, and flood zone determinations. Advanced Data’s proprietary Fraud Report identifies each loan’s fraud risk before and after funding. The firm prides itself on delivering superb customer service, hiring experienced employees, and developing customized, sophisticated technology. It’s one of the only firms in its sector to employ an in-house development group, which ensures its technology provides a competitive advantage to clients and can be customized to their needs. For more information, visit advanceddata.com.
Press Contacts:
Matt Strickberger
OnPoint PR and Consulting LLC
908-967-9964
mstrickberger@onpoint-pr.com
Joe Bowerbank Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com