Dominic Iannitti, a veteran mortgage technology leader who founded DocMagic and served as its CEO, died July 18, according to a company announcement on Monday.
Iannitti, 60, died due to complications from pneumonia. He founded DocMagic in 1987 alongside Pat Theodora, his chief financial officer, who will become the company’s new CEO. The company provides a number of e-mortgage services, including remote online notarizations (RONs).
“The entire family at DocMagic is deeply saddened by Dominic’s passing,” Theodora said in a statement. “He was a true pioneer in our industry and a mentor to many. I am committed to honoring his legacy by continuing to drive innovation and deliver exceptional solutions to clients. This is what my friend and partner would have wanted, and I am laser-focused on implementing the company’s succession plan without any interruption to operations.”
“As we mourn the loss of our friend and business inspiration, DocMagic’s longtime leadership team is well-prepared to remain steadfast in our mission and commitment to excellence in the mortgage technology space,” Lori Johnson, DocMagic’s chief operating officer, added. “We have already implemented a comprehensive succession plan to ensure a seamless transition.”
Iannitti, a 2016 HousingWire Vanguard award winner, was a well-recognized face of the digital mortgage revolution and has shaped DocMagic into a key partner for mortgage originators, closing specialists, servicers and secondary market investors. DocMagic has been a frequent winner of HousingWire’s Tech100 award, given to the U.S. housing industry’s most innovative and impactful tech firms.
In June, the Mortgage Bankers Association (MBA) named Iannitti as a second-time recipient of its Tech All-Star Award, which highlighted his ongoing success to facilitate electronic loan transactions and drive e-mortgage adoption.
“Advancing the mortgage industry with new technology solutions is what we’re passionate about,” Iannitti told the MBA. “At the end of the day, we aim to automate every manual mortgage process and eliminate papering-out loan documents. DocMagic’s goal is to serve as the behind-the-scenes automation engine that helps clients originate loans, fund them, sell them and service them — 100% electronically.”
No details about a memorial service were immediately available, but the Iannitti family asked for donations to the World Family Foundation and the Lunada Bay Little League in Dominic’s name.