Mount Laurel, N.J.-based PHH Mortgage, one of the largest providers of residential mortgages in the U.S., has chosen to use DocMagic's expansive set of products to help ensure compliance with the TILA-RESPA Integrated Disclosure (TRID) rules.
‘We have worked closely with DocMagic for the last year to thoroughly evaluate, test and integrate their technology and compliance solutions, and we will use various components to ensure we are TRID-compliant,’ says Eric Sadow, chief compliance and fair lending officer for PHH Mortgage.
According to DocMagic, PHH and its clients can now easily access DocMagic's e-sign/e-delivery technology, which facilitates the electronic delivery of TRID documents and electronic viewing of closing disclosures. Further, DocMagic's Audit Engine tracks and logs all transactions handled through its Compliance Engine and its SmartCLOSE portal while comparing the initial loan estimate against the final closing disclosure.
DocMagic says it developed SmartCLOSE to integrate with loan origination systems and facilitate the seamless, bi-directional exchange of data and related information. SmartCLOSE also integrates with settlement technology platforms and other third-party applications used in the loan closing process to allow all parties to securely share, validate, audit, track and collaborate on all appropriate documents, data and fees.