Patents advance fully digital mortgage closings
TORRANCE, Calif. /Massachusetts Newswire – National News/ — DocMagic, Inc. announced today it has been granted two patents from the United States Patent and Trademark Office: Patent No. 12,175,785 for its system and method of “Determining Similar Loan Documents” and Patent No. 12,169,976 for its system and method of “Enabling Electronic Loan Documents.” Individually and collectively, the patents give DocMagic competitive exclusivity to technology that strengthens the company’s ability to automate document preparation and digital closing workflows.
The issuance of these patents reflects the novelty of DocMagic’s inventions as determined by the U.S. Patent and Trademark Office. Both patented inventions are already integrated into DocMagic’s AutoPrep(tm) solution, which instantly converts third-party documents into e-ready files for eSignature, eNotarization and eClosing. This technology enables DocMagic to deliver more efficient, compliant and secure closing workflows.
“These patents represent a critical milestone toward universal adoption of digital closings,” said DocMagic co-founder and CEO Pat Theodora. “They reflect our decades-long commitment to innovation and our vision to continually push technological boundaries. This achievement honors the pioneering spirit that has defined DocMagic since its founding nearly 40 years ago.”
“Our focus has always been on removing friction from the mortgage process through technology,” said Michael Morford, DocMagic’s chief technology officer. “By combining AI, optical character recognition and patented technologies, DocMagic delivers an intuitive solution that instantly prepares documents for fully digital closings. These innovations transform how documents are prepared, executed and secured, creating a truly digital experience for lenders, borrowers and settlement agents.”
About DocMagic:
Founded in 1987 and headquartered in Torrance, California, DocMagic, Inc. is a leading provider of compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. The company’s solutions facilitate precision-based digital lending transactions, connecting industry participants and ensuring data integrity. With in-house compliance experts and legal staff, DocMagic monitors legal and regulatory changes at both federal and state levels. For more information on DocMagic, visit https://www.docmagic.com/.
Learn More: https://www.docmagic.com/
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NEWS SOURCE: DocMagic, Inc.. Story was sourced from a press release issued by Send2Press® and used with permission. View the original story at: https://www.send2press.com/wire/docmagic-awarded-dual-patents-for-groundbreaking-electronic-loan-document-innovations/
