New Penn Financial is now using DocMagic's secure eSign and eDelivery process to deliver compliant initial disclosures for approved correspondent lenders who sell their production to the national mortgage lender.
‘We're very pleased to introduce our existing customers to New Penn Financial as an investor for their loans and look forward to providing our services to their existing correspondents, including our secure eSign, electronic document technology and industry-leading legal compliance services,’ says Dominic Iannitti, president and CEO of DocMagic, in a release.
As part of the relationship, DocMagic will provide New Penn Financial's investor initial disclosure packages with DocMagic's secure eSign service.
‘The majority of our correspondents already use DocMagic, so it was a natural decision to have them maintain our investor docs,’ says Brian Simon, chief operating officer of New Penn Financial. ‘Their ability to keep our documents correct and help our third party originators stay current and compliant is well proven.’
‘With the amount and velocity of compliance changes occurring in our industry, now more than ever we needed a partner who could keep pace with our growing institution and ensure full compliance in a fast-changing regulatory landscape,’ Simon adds.