ICE and DocMagic team up to offer closure technology



Mortgage technologies ICE will now deploy eVault as part of its mortgage closure platform to securely store digital mortgages and bills of exchange, as announced late last week.

Digital mortgage platform DocMagic Inc… provides eVault technology that will be integrated into the Encompass eClose, which closes the ICE platform, the company said. Encompass eClose enables lenders to electronically simplify every aspect of the eClosing workflow without ever leaving Encompass.

“Both ICE and DocMagic are committed to providing technology to increase the adoption of e-closure in the mortgage industry,” said Joe Tyrrell, President of ICE Mortgage.

“By building an end-to-end solution and continuing to automate the mortgage closure process, we are helping the industry move to paperless closing and provide more efficient processes for our clients,” Tyrrell said.

“ICE Mortgage Technology and DocMagic have been helping lenders implement digital mortgage processes for years,” added Dominic Jannitti, CEO and President of DocMagic. “The move to digital mortgages is progressing rapidly and we are delighted to have provided ICE with the ability to enable completely paperless lending workflows along with improved supply chain connectivity.”

DocMagic made headlines in the digital closure industry last year. He acquired Austin startup Liveoak Technologies for $ 38 million in a share transaction in July 2020 and after the start of remote online notarization gaining momentum during the DocMagic pandemic as well as Secure insight announced in March in launch the joint RON training program.

ICE, which owns Ellie May, announced in April this assessment and management service provider Assessment is now available through his platform. Thanks to the integration, lenders can now order, assign, track and verify real estate appraisals in the AMC and appraisers market directly through the ICE platform.

ICE has been a serious player in mortgage technology throughout its life, especially with regard to mergers and acquisitions. Company acquired majority position in equity MERSCORP Holdings, owner Electronic registration of mortgages System in 2016 and bought the remaining package after two years. ICE also acquired Simplified in 2019 for $ 335 million.


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