New relationship improves functionality and enables greater flexibility for lenders
Franklin, Tennessee – June 16, 2020:
Wipro Gallagher Solutions (WGS), a Wipro Limited company and a leading provider of loan origination software solutions, today announced a partnership with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services for the mortgage industry. The partnership will enable Wipro Gallagher Solutions to advance digital mortgage processes via a seamless integration to DocMagic services.
DocMagic dynamically generates documents and enables NetOxygen LOS users to provide borrowers with the ability to receive the Loan Estimate (LE), eSign documents, and deliver an accurate Closing Disclosure (CD) while ensuring TRID compliance – without ever leaving the LOS. Bringing the process full circle, users can also seamlessly access DocMagic’s Total eClose™ platform to execute fully paperless eClosings via a comprehensive eClosing workflow from a single-source vendor.
Amid current challenges and social distancing measures, the new integration offers state-of-the-art, relevant functionality for lenders, settlement providers, and other stakeholders. It allows borrowers to easily eSign documents and execute completely paperless eClosings.
"We are pleased to cement an integration partnership with Wipro and are confident that it will deliver value to our respective markets,” stated Steve Ribultan, Director of Business Development at DocMagic. “This is a lights out integration that significantly improves the digital mortgage process via access to DocMagic’s extensive suite of products.”
“We are constantly looking for ways to improve the mortgage lending process for our customers, and we will be able to leverage our partnership with DocMagic in doing so,” said Sandeep Hinduja, Head of sales, Wipro Gallagher Solutions. “Today’s market is unlike any we have seen before. With this partnership, we are expanding the scope of NetOxygen suite of products to better equip lenders to overcome new lending challenges and provide seamless digital experience.”
To showcase the new integration and address trends and mounting challenges in the mortgage market, Wipro Gallagher Solutions and DocMagic will be holding a webinar on July 22nd, 2020 at 11 AM CT, click here to register for the webinar. For more information, visit www.wipro.com/gallagher
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web- based systems for the production and delivery of compliant loan document packages. The company’s compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions is a Wipro Limited company, focused on fueling the future lender since 1985. Wipro Gallagher Solutions’ digital lending platform NetOxygen helps lenders close more loans at lower costs, with its highly automated, workflow-driven, POS to closing solution, delivering superior borrower and colleague experience. Wipro Gallagher Solutions makes lending simpler, safer, and more profitable to lenders across retail, consumer, wholesale, and correspondent channels. For more information, please visit www.wipro.com/gallagher
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 175,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
Wipro Media Contact:
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.