DocMagic vs Lightning Docs

Two different loan books, not two versions of one product

DocMagic writes consumer mortgage documents under TRID and agency rules. Lightning Docs writes business purpose loan documents for private lenders. The overlap is narrow. A shop originating both consumer and private paper may run both. Most buyers already know which side they sit on before the demo.

Business purpose paper versus consumer disclosures

Lightning Docs covers bridge, fix and flip, ground up construction and DSCR loans in all 50 states. It handles multiple properties, borrowers, guarantors and lenders across state lines. Its site cites document generation in roughly ten minutes. DocMagic covers initial disclosures through closing, plus HELOC and servicing documents. Ask Lightning Docs how it treats a loan that could be recharacterized as consumer. Ask DocMagic which non-QM and investor products it already supports.

Business purpose lending sits outside TRID and most consumer disclosure rules. That changes what a document has to prove. State usury, licensing and foreclosure rules still bite, and they vary widely by jurisdiction.

Who stands behind the document

Lightning Docs came out of Geraci LLP, a private lending law firm based in Irvine. That firm filed to do business as Fortra Law in July 2025, after founder Anthony Geraci departed. Lightning Docs operates under chief executive Nema Daghbandan. Buyers who want law firm authorship behind each form should press on that relationship now. Ask whether Fortra Law attorneys still review every form update.

DocMagic was founded in 1987 by Dominic Iannitti and Pat Theodora. Iannitti died in July 2024 and Theodora became chief executive. That succession was unplanned, so ask about roadmap continuity since 2024.

eNote and the registry question

DocMagic appears on Fannie Mae’s eMortgage partner list for eNote, eClose and eVault. It reaches the MERS eRegistry through SmartSAFE with SmartREGISTRY. Lightning Docs does not appear on that Fannie Mae list. Private lending sells to different buyers, so agency eNote plumbing may simply not apply. If a warehouse line or securitization wants eNotes, ask Lightning Docs to name its eVault path.

DocMagic also runs its own RON and added IPEN in November 2025. Lightning Docs publishes no notarization product of its own. Signing execution stays with whatever platform your origination system already uses.

Where each one plugs in

Lightning Docs names Encompass, Baseline, The Mortgage Office, Salesforce, Nexys, Mortgage Automator, Mortgage Cadence, Liquid Logics, Lendr and LendingWise. Its 2.0 release in October 2024 added an open API for one click generation. That release named Elphi as well. DocMagic names Encompass, Dark Matter, MeridianLink, Byte, Calyx, Finastra, Fiserv, LendingPad, Vesta and Wilqo. It also names Simplifile for recording and MERS eRegistry. The private lending platforms on the Lightning Docs list are absent from DocMagic’s.

What the volume claims actually say

Lightning Docs stated more than 3,000 private lender loans monthly in October 2024, with over 200 active users. Its site cites $100 billion in lifetime loan originations. DocMagic claims over 800 million eSignature transactions processed and clients in all 50 states. Neither set carries published method or audit. Both are vendor stated and unverified. Ask Lightning Docs for a current monthly loan count, since the published figure dates from October 2024.

Neither publishes a price

Lightning Docs shows a pricing request form and no rate card. DocMagic shows no price either. Ask Lightning Docs for cost per document set by loan type and state. Ask whether custom form changes carry separate legal review fees. Ask DocMagic for cost per closing including eSign, eNotary and eVault storage.

Cost per document set matters less here than exception rate. Ask each vendor how often files need manual rework after generation.

Which one to pick

A private lender running bridge, DSCR and construction paper should choose Lightning Docs. A consumer mortgage originator needing TRID testing and agency eNote delivery should choose DocMagic. Ask Lightning Docs how documents update when a state changes usury or licensing rules. Ask DocMagic what it charges to add a non-agency investor product to your document set.

Also in this category

Also in this category: DocMagic vs Docutech and DocMagic vs PPDocs.