DocMagic revenue spikes in 2016

by Anna Sobrevinas13 Apr 2017
Good news for DocMagic – its revenue increased by 42% in 2016, according to a news release.

The loan document preparation company attributes its huge revenue growth to the industry’s demand for “products that enable TRID compliance, eSignatures and eClosings.”

“Lenders have been looking for ways to assure TRID compliance since 2015, and DocMagic’s SmartCLOSE technology has become the industry’s go-to solution,” said Dominic Iannitti, president and CEO of DocMagic. “Our user base has grown quickly. A lot of existing DocMagic clients saw the value of SmartCLOSE immediately. It has also been an entry point for many of our new lender clients.”

Through SmartCLOSE, lenders are able to “interface with settlement providers and other relevant parties in a secure portal to share, edit, validate, audit, track and collaborate on documents, data and fees.”

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