CFO Pat Theodora taking on as CEO after Iannitti, a pioneer of quite a few paperless processes, dies unexpectedly of problems from pneumonia.
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The true property trade is mourning the sudden passing of DocMagic co-founder, President and CEO Dominic Iannitti, who died unexpectedly on July 18 on the age of 60 on account of problems from pneumonia.
Pat Theodora, DocMagic’s chief monetary officer and co-founder, has been appointed the corporate’s new president and CEO.
Pat Theodora
“The entire family at DocMagic is deeply saddened by Dominic’s passing,” Theodora stated in a assertion Monday. “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.”
Iannitti, who based Torrance, California-based DocMagic as a university scholar in 1987 and helped streamline mortgage originations by pioneering quite a few paperless processes, was the recipient of quite a few trade awards, together with Inman Better of Finance Awards in 2023 and 2024.
Recognizing the mortgage trade’s inefficiencies, and reliance on paper and information entry, Iannitti’s imaginative and prescient was “to optimize the mortgage process through data repackaging. True to his entrepreneurial spirit, Iannitti crafted a business plan, secured funding from investors, and launched DocMagic — all before graduating,” based on a firm web site.
Along with automating mortgage doc preparation, administration and supply, Iannitti is credited with pioneering eVault and eSign capabilities and introducing the primary end-to-end eClosing platform.
He was additionally celebrated “for his genuine care for employees, clients, partners, and associates,” DocMagic stated in an announcement. Iannitti “fostered a dynamic company culture rooted in innovation, integrity, and collaboration. His legacy of leadership, trailblazing accomplishments, and technological advancements will continue to inspire and guide DocMagic for years to come.”
Plans for memorial providers will likely be introduced at a later date. In lieu of flowers, Iannitt’s household requests that donations be made to the World Household Basis (Worldfamilyfnd.org) or Lunada Bay Little League (Lunadabayll.com) “In memory of Dominic Iannitti.”
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