Wipro Gallagher collaborates with DocMagic to enhance digital mortgage processes

Wipro Gallagher Solutions (WGS), a leading provider of loan origination software solutions and a part of Wipro Limited, announced that it was joining hands with DocMagic, a provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services in a partnership, which will enable the company to advance its digital mortgage process.

DocMagic dynamically generates documents and enables NetOxygen loan origination solution (LOS) users to provide borrowers with an ability to receive the loan estimate (LE), eSign documents and deliver an accurate closing disclosure (CD) while ensuring TRID compliance without ever leaving LOS.

The company stated that amidst the current challenges and social distancing measures, the new integration will allow for state-of-the-art and relevant functionality made available to lenders, settlement providers and other stakeholders. Borrowers to easily eSign documents and execute completely paperless eClosings.

Speaking on the development, Sandeep Hinduja, Head of sales at Wipro Gallagher Solutions stated that through this partnership, the company aims to expand the scope of NetOxygen suite of products to better equip lenders to overcome new lending challenges and provide seamless digital experience.

At 10 am on Wednesday, Wipro’s stock was trading at Rs 216, up by 1.67 per cent or Rs 3.80 per share. The 52-week high is recorded at Rs 300.65 and the 52-week low is Rs 159.60 on BSE.