CFO Pat Theodora taking over as CEO after Iannitti, a pioneer of numerous paperless processes, dies unexpectedly of complications from pneumonia.
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The real estate industry is mourning the unexpected passing of DocMagic co-founder, President and CEO Dominic Iannitti, who died unexpectedly on July 18 at the age of 60 due to complications from pneumonia.
Pat Theodora, DocMagic’s chief financial officer and co-founder, has been appointed the company’s new president and CEO.
Pat Theodora
“The entire family at DocMagic is deeply saddened by Dominic’s passing,” Theodora said in a statement 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 founded Torrance, California-based DocMagic as a college student in 1987 and helped streamline mortgage originations by pioneering numerous paperless processes, was the recipient of numerous industry awards, including Inman Best of Finance Awards in 2023 and 2024.
Recognizing the mortgage industry’s inefficiencies, and reliance on paper and data entry, Iannitti’s vision 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,” according to a company website.
In addition to automating loan document preparation, management and delivery, Iannitti is credited with pioneering eVault and eSign capabilities and introducing the first end-to-end eClosing platform.
He was also celebrated “for his genuine care for employees, clients, partners, and associates,” DocMagic said in a statement. 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 services will be announced at a later date. In lieu of flowers, Iannitt’s family requests that donations be made to the World Family Foundation (Worldfamilyfnd.org) or Lunada Bay Little League (Lunadabayll.com) “In memory of Dominic Iannitti.”
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