Mortgage tech company touts reliability in wake of Ellie Mae breakdown

by Ryan Smith02 Apr 2014
In the wake of a technical breakdown at mortgage software provider Ellie Mae, another mortgage technology company is touting its own 99.99% uptime average.

A series of outages of Ellie Mae’s Encompass system prevented some loans from closing Monday and Tuesday. About 20% of all U.S. mortgage originations are processed through the company.

Meanwhile, Dominic Iannitti, CEO of DocMagic, is promoting his own company’s uptime average. Customers of the document preparation and compliance company can even view its uptime stats in real time by visiting

“We’ve always shared our uptime record with our customers because it’s just so important,” Iannitti said. “With uptime typically between 99.99 and 99.999%, our clients never have to worry about having access to the documents and compliance tools they need to close their loans. This type of uptime is not only possible, it’s critical to the fundamentals of mortgage lending. Companies that take customer service seriously do a good job of achieving the 99.99%+ uptime metric.”

In order to maximize uptime, DocMagic developed a proprietary program that continuously sends complete transaction requests of all types through its system 24 hours a day. Company technicians monitor more than 1,000 data points as the requests make their way through the system, identifying and correcting potential problems before they can grow to system-threatening proportions.  

“Reliability is one of the most important qualities in a service provider,” Iannitti said. “DocMagic is fully transparent when it comes to service delivery uptime. Achieving the high level of uptime that we do is a major accomplishment, of which our entire organization is very proud. It means we are absolutely the best at what we do and we prove it to our clients every day.”



Is TILA-RESPA a good or bad thing long term?