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Special Reports
Lead Generation
LoanMagic Software Released By DSI
By Rick Grant
CARSON, CA-Document Systems Inc. here, developer of the DocMagic document preparation
software, has released LoanMagic, a mortgage customer contact management system. The tool is designed to streamline
the tasks involved in acquiring leads, managing contacts and gathering all personal and credit information necessary
to secure a loan.
More of a marketing tool than a loan origination system, LoanMagic was developed
to improve the process of gathering information at the front end of the loan process by giving loan officers a
tool to help them before, during and after the sale of a loan by enabling them to manage leads and client information,
compare loans, create loan documents, schedule meetings, store financial information and transfer reports to clients
and contacts.
"The introduction of LoanMagic to the mortgage industry is a direct response
to requests from our client base and the industry at large," said Don Iannitti, president and CEO of Document
Systems. "Often times, when solving a business problem for a client, we discover other areas of their operations
that can benefit from our capabilities. We developed the technology to provide loan officers with the tools that
they need to not only sell a loan, but create 'customers for life.' LoanMagic enables us to provide loan officers
and brokers with every tool they will need from the time a client first walks into their office to the time they
close the loan."
Through LoanMagic, terms, adjustments and interest rates on DocMagic's entire
loan library of over 35,000 loan programs are monitored for upgrades and changes. The programs can be compared
side-by-side. The system interfaces with desktop underwriting programs, other third-party servicer providers, is
able to communicate directly with investors for locking rates and can seamlessly transfer information to DocMagic
so the user is able to create customized closing documents, eliminating the need to re-enter data.
LoanMagic is a standalone application that is Web-enabled. However, users can
run the system in a disconnected manner. DSI has been developing the tool for some time and has successfully tested
it with a top lender, who uses the tool primarily to track leads sent from the central office to its distributed
broker network.
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