eNewsChannels: lender compliance

SALT LAKE CITY, Utah /eNewsChannels/ — NEWS: Mortgage document preparation vendor International Document Services, Inc. (IDS) announced more than half (51.6 percent) of all document packages it processed in 2013 were signed electronically. In addition, following the IRS’s approval of electronically signed 4506-T documents in late 2012, 18.5 percent of all 4506-T documents processed by IDS were E-signed in 2013.

“Compliance has become a competitive advantage for lenders, and despite declining volumes in the industry, IDS saw an increase in its customer base, due in large part to the compliance features built in to idsDoc,” says Mark Mackey, executive vice president at IDS. “When you take into account all of the audit capabilities and E-sign functionality idsDoc possesses, plus our integrations with numerous LOS systems and our outstanding customer service, IDS stands head and shoulders above its competitors.”

“Electronic signature adoption continues to grow amongst lenders, particularly as more federal and state entities begin to accept E-signed documents,” adds Mackey. “Now that the Federal Housing Administration has begun accepting E-signed documents, we expect to see continued growth in E-sign adoption, both within our customer base and industry wide.”

IDS also saw 20+ percent growth in all of its sales territory regions, with the most growth occurring in the Midwest region (31 percent). Subsequently, IDS increased its overall internal staff by 45 percent and its customer service staff by 72 percent to manage the continued customer growth.

Other significant company achievements for IDS in 2013 include:
* Recognition as a “Top 50 Service Provider” by Mortgage Technology Magazine;
* Selection as a finalist for the Mortgage Technology “Lender’s Choice” Award;
* Implementation of the Dodd-Frank Act January 2014 Final Rules by November;
* Issuing the IDS’s Implementation of the Final Rules: Dodd-Frank January 2014 manual;
* Completion of integrations with LOS providers OpenClose and LendingQB; and
* A company feature in the November issue of Mortgage Banking Magazine.

About IDS, Inc.:

IDS, founded in 1986 in Salt Lake City, Utah, is a nationwide provider of mortgage documents and compliance. IDS services include closing documents, initial disclosures and fulfillment. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs.

The system is backed with compliance and document guarantees. IDS succeeds with unsurpassed customer service, sophisticated technology, and a diligent compliance team.

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