Company implements succession plan as industry mourns loss
Mortgage tech company DocMagic has announced the unexpected passing of its founder, president, and CEO, Dominic Iannitti (pictured) due to complications of pneumonia.
Iannitti founded DocMagic in 1987 with the goal of streamlining the mortgage process through technology. Over the past four decades, he led the company to become a market leader in mortgage document generation and eClosing technology.
“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,” DocMagic chief operating officer Lori Johnson said.
Johnson added that the company has a succession plan in place to ensure uninterrupted operations.
Effective immediately, Pat Theodora, DocMagic’s chief financial officer and Iannitti’s longtime business partner, will serve as the new president and CEO of DocMagic.
“Dominic was a true pioneer in our industry and a mentor to many,” Theodora said. “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.”
Throughout his career, Iannitti received numerous industry accolades, including a recent second-time recognition with the Mortgage Bankers Association’s Tech All-Star Award. His achievements in automating loan document processes, pioneering eVault and eSignature capabilities, and introducing the first end-to-end eClosing platform have significantly impacted the mortgage industry.
Details regarding memorial services will be shared as they become available. In lieu of flowers, the family has requested donations be made to the World Family Foundation or Lunada Bay Little League in memory of Dominic Iannitti.
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