smartCLOSE by DocMagic

smartCLOSE is a collaborative closing solution offered by DocMagic that combines collaboration, compliance, workflow, and document management in one platform. According to the vendor, it aims to streamline the closing process for lenders, settlement providers, and associates by providing a seamless and synchronized workflow. This versatile solution caters to professionals in the lending, settlement, title agency, loan officer, and mortgage industries, offering them a platform to view, edit, and exchange data and fees prior to closing.

Key Features

End-to-end workflow: According to the vendor, smartCLOSE allows users to view and edit loan closing data in a synchronized collaborative workflow. It aims to enable lenders, settlement providers, and associates to work together seamlessly in the closing process by providing a single platform.

Continuous Compliance: The vendor claims that smartCLOSE compares changed values to ensure TRID (TILA-RESPA Integrated Disclosure) tolerance monitoring. It is designed to help maintain compliance with TRID regulations by monitoring changes in loan closing data and providing alerts and notifications when changes exceed tolerance thresholds.

MISMO 3.3 compliant: The vendor states that smartCLOSE is certified MISMO (Mortgage Industry Standards Maintenance Organization) 3.3 compliant for XML data and document exchange. It aims to ensure compatibility and standardization of data and document exchange between different systems, facilitating seamless integration with other mortgage industry software and platforms.

LOS Integration: According to the vendor, smartCLOSE offers bi-directional integration with leading Loan Origination Systems (LOS). It aims to allow for seamless data exchange between smartCLOSE and LOS platforms, reducing manual data entry and improving efficiency in the closing process.

Instant Communication: The vendor claims that smartCLOSE provides real-time chat and instant messaging within the platform. It aims to enable quick and efficient communication between lenders, settlement providers, and associates, facilitating collaboration and problem-solving during the closing process.

Automated Event Logging: According to the vendor, smartCLOSE offers automated event and audit logging. It aims to track and record all activities and changes made within the platform, providing a comprehensive audit trail for compliance and accountability purposes.

eDelivery: The vendor states that smartCLOSE provides integrated eDelivery of borrower disclosures. It aims to enable electronic delivery of borrower disclosures directly from the platform, reducing the need for physical document delivery and improving efficiency.

Settlement View: According to the vendor, smartCLOSE offers a settlement/title agent pipeline view. It aims to provide a centralized view of the settlement/title agent pipeline, allowing for easy tracking and monitoring of the status of each closing.

Generate and Deliver GSE-Certified UCD Files from inside SmartCLOSE!: The vendor claims that smartCLOSE enables the generation and delivery of GSE (Government-Sponsored Enterprise)-certified UCD (Uniform Closing Dataset) files directly from the platform. It aims to ensure quality control, loan delivery timing, and compliance by automating data quality and compliance validations prior to UCD creation.