Community State Bank Implements Fully Paperless eClosing Process

Southeast Wisconsin-based Community State Bank has implemented DocMagic’s full suite of eClosing solutions to transform the bank’s mortgage closing process, making it 100 percent digital. All seven locations of Community State Bank have now implemented DocMagic’s Total eClose platform and are closing and funding residential home loans electronically.

Community State Bank selected DocMagic’s eClose platform to completely digitize its mortgage closing process — including remote online notarizations (RON), eNote generation and secure eVault storage capabilities. The bank partnered with DocMagic primarily to implement technology that would help ensure the highest levels of customer safety during the pandemic. Secondarily, Community State Bank sought to improve the borrower experience with an easier, quicker and more efficient lending process.

“During these times of uncertainty, it is extremely important that our team be able to adjust quickly in order to continue serving our customers safely,” said Community State Bank President and CEO,Scott Huedepohl. “We’re very honored to be able to provide both a high-tech experience, while still offering personalized service to guide our customers along the way.”

Community State Bank is leveraging DocMagic’s dynamic document generation capability to ensure the consistency and compliance of Loan Estimates (LE) and Closing Disclosures (CD), eSignatures, eNotarizations in all 50 states, and eDelivery to investors/GSEs. Total eClose also generates a MISMO Category 1 SMARTDoc eNote and has direct connectivity with the MERS eRegistry. The entire process includes a detailed audit trail, with secure storage in DocMagic’s certified eVault. Collectively, DocMagic’s Total eClose platform creates a fully paperless workflow that seamlessly integrates every component of the closing process.

“We’re happy to have partnered with DocMagic to provide our mortgage customers with a completely paperless and virtual experience from start to finish,” said Community State Bank Vice President of Mortgage Operations, Shakil Haider. “By utilizing DocMagic, our mortgage team can now offer customers the option of signing mortgage documents electronically, from the moment they apply through closing.”

“We’re excited that Community State Bank elected to implement a fully digital mortgage closing process with DocMagic as its single-source provider,” said Dominic Iannitti, President and CEO at DocMagic. “Community State Bank has put their customers’ needs at the forefront by implementing our automated, end-to-end lending platform. We provide our clients with an agile and technology-forward mortgage process that ensures they can sustain and scale critical business processes.”

After using the new platform, Community State Bank mortgage customer Gary Strand, remarked: “This was our first time closing a mortgage with Community State Bank. Our experience was very simple from start to finish. Having the option to close our loan online shows they are willing to accommodate their customers’ needs and busy schedules while also keeping safety in mind during the pandemic.”