Tag Archives: Reynolds and Reynolds company

IDS Advises Mortgage Lenders to Address UCD Warnings Prior to June 25 Deadline

SALT LAKE CITY, Utah /ScoopCloud/ -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it is advising all lenders to begin troubleshooting warnings from Fannie Mae and Freddie Mac's Uniform Closing Dataset (UCD) portal regarding missing information in their UCD files. Beginning June 25, UCD files that trigger a warning will not be accepted by the GSEs.

"IDS has been monitoring our users' experience with the UCD XML file submission process closely since UCD went into effect last September, and the announcement of the June enforcement date for 'error-free' UCD files has only enhanced our focus," said IDS Vice President and General Manager Mark Mackey. "Because warnings can vary from lender to lender, we are encouraging our customers to reach out as quickly as possible and notify us of the warnings they're receiving and the triggers for those warnings so that we can best advise them on the adjustments that need to be made."

While Fannie Mae and Freddie Mac utilize the same XML file format for UCD delivery, the organizations differ in their methods of extracting the data from the file. As such, Mackey explains, lenders may also observe differences in the warnings they receive from each and should address warnings from each separately.

"The more feedback we receive from our customers on this, the better we're able to address these issues early so that the loan process continues to run smoothly," Mackey added. "In many of the early cases we've seen, data entry error is the most common trigger for a warning, though data mapping issues between loan origination systems and idsDoc may also be a possible trigger. As an added layer of protection, IDS can add audits, notes and/or notifications to idsDoc to help lenders ensure successful submission of their UCD XML files."

About IDS, Inc.:
IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes.

Learn more at: http://info.idsdoc.com/.

Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it is advising all lenders to begin troubleshooting warnings from Fannie Mae and Freddie Mac's Uniform Closing Dataset (UCD) portal regarding missing information in their UCD files. Beginning June 25, UCD files that trigger a warning will not be accepted by the GSEs.

Related link: http://info.idsdoc.com/

IDS Gains Market Share in 2017 Despite Industry Downturn

SALT LAKE CITY, Utah /ScoopCloud/ -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it increased its share of the mortgage document preparation market in 2017, even though the industry overall experienced a decline in volume.

According to the Mortgage Bankers Association's (MBA's) "MBA Mortgage Finance Forecast" for December 2017, total mortgage originations are expected to reach $1.71 trillion by the end of the year, which is nearly 17 percent below 2016's total mortgage origination volume of $2.051 trillion. In spite of this decline in volume, IDS Vice President and General Manager Mark Mackey reports the firm increased its market share by 5.9 percent in 2017.

"With the mortgage industry shifting from a refinance-driven environment to one fueled by purchases, it was widely expected that there would be an overall drop in originations, and one would expect mortgage doc volume to track alongside that decline," Mackey said. "However, our numbers indicate that IDS gained ground in 2017, which is always encouraging to see in a down market."

In February, idsDoc introduced new borrower data collection fields that support compliance with the 2018 changes to Home Mortgage Disclosure Act (HMDA) reporting. The following May, IDS announced that it was the first mortgage document vendor to have its UCD XML file certified by Fannie Mae and Freddie Mac.

To further aid clients' efforts in complying with these changes and others, IDS also updated idsDoc to include the most recent reference model from the Mortgage Industry Standards Maintenance Organization (MISMO), Version 3.4 and is working on implementing Version 3.5.

Other major changes to idsDoc in 2017 included:

* Lender customization capabilities in the eSign room, including custom docs;
* Loan officer digital "sticky notes" for electronic documents;
* Spanish-language electronic documents;
* Pre-closing document preview capabilities; and
* New LOS pushback notifications.

Additionally, IDS increased its staff in several key areas including IT (75 percent), Development (35 percent) and Customer Support (33 percent). Also new in 2017 was the formation of its New Product Development team to guide development of new IDS solutions, led by former IDS developer Beckie Santos.

"Continuous refinement and improvement of idsDoc is always a top priority in any given year, and 2017 was no exception," Mackey explained. "Over the course of the year, we added 218 new audits to idsDoc, bringing the total number of audits available in the system to 2,929. Now that investors and regulators are becoming more accepting of electronically executed documents, our focus for 2018 on expanding the capabilities of idsDoc to allow our customers to execute fully electronic mortgage closings through our platform."

About IDS, Inc.:

IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes.

For more information, visit: https://info.idsdoc.com/.

Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it increased its share of the mortgage document preparation market in 2017, even though the industry overall experienced a decline in volume. In February, idsDoc introduced new borrower data collection fields that support compliance with the 2018 changes to Home Mortgage Disclosure Act (HMDA) reporting.

Related link: http://info.idsdoc.com/

IDS Expands eSign Room Customization Capabilities

SALT LAKE CITY, Utah /ScoopCloud/ -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it has expanded the settings and capabilities of its eSign room within the idsDoc mortgage doc prep platform. These new features enable lenders to create a more seamless and unified eSign experience for borrowers.

The expanded capabilities allow loan officers (LOs) and borrowers to upload custom documents to the eSign Room. When a document is uploaded, the LO is prompted to assign a signature type to the document - either eSign, wet sign or acknowledgment - or to simply insert the document into the package. From there, LOs can add signature lines and/or checkboxes to indicate where and how the borrower should sign. LOs can then insert the document(s) into the appropriate borrower document eSign list.

"eSignatures are a critical first step in the eMortgage process. If this part isn't working successfully and with precision, adding additional pieces like eClosing and eNotes is nearly impossible," said Mark Mackey, vice president and general manager of IDS. "By expanding the capabilities of the idsDoc eSign room to include custom docs and branding, we are helping our clients build trust with borrowers in the security and ease-of-use of the eSign process, which helps move those clients down the eMortgage path."

In addition, lenders can now incorporate their own branding within the IDS eSign room, creating a visually cohesive environment to preserve borrower trust with the eSign process. Another function to help consumers through the eSign process is the new LO comment feature, which allows LOs to insert digital "sticky notes" with directions or other pertinent information into documents.

About IDS, Inc.:
IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms.

The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes. (http://info.idsdoc.com/)

Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it has expanded the settings and capabilities of its eSign room within the idsDoc mortgage doc prep platform. These new features enable lenders to create a more seamless and unified eSign experience for borrowers.

Related link: http://info.idsdoc.com/

IDS Hits Multiple Daily Mortgage Document Preparation Records in 2015, Achieves Significant Growth Despite TRID Challenges

SALT LAKE CITY, Utah, April 18, 2016 (SEND2PRESS NEWSWIRE) -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it achieved 11 single-day company records for total document orders in 2015. Overall document fulfillment increased 24 percent from 2014 to 2015, with initial disclosures and closing documents seeing similar growth (26 percent and 22 percent, respectively). IDS also saw increased adoption of its eSign functionality in 2015, with 45 percent more documents electronically signed as compared to 2014.

In terms of new business, IDS experienced the greatest growth in the Northeast region, increasing its new client acquisitions in this area by 46 percent. The company also saw significant gains in the Southeast region (32 percent) and through its affiliate sales in Texas (29 percent).

"2015 was a time of tremendous change and uncertainty for the mortgage industry," said Mark Mackey, vice president of IDS. "To experience this kind of success in that kind of environment demonstrates not only the importance of documents in the mortgage process, but it is also a testimony to the quality of documents and service IDS provides to the industry."

Additionally, IDS made many substantive changes to the organization in preparation for the implementation of the TILA-RESPA Integrated Disclosure (TRID). The firm doubled its data storage and processing capabilities, and more than 70 percent of its flagship document preparation system idsDoc had to be altered or adjusted in some way due to TRID requirements.

"Over the course of 2015, we issued six major TRID-related software releases, in addition to our routine system updates, and the attention to detail we paid to these changes really paid off for our customers," Mackey added. "The feedback we received from clients on how IDS handled TRID was overwhelmingly positive, and our customers seemed to experience fewer issues overall."

About IDS, Inc.:

IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes.

More information: http://info.idsdoc.com/.

Twitter: @idsDoc #mortgage #TRID

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/ids-hits-multiple-daily-mortgage-document-preparation-records-in-2015-achieves-significant-growth-despite-trid-challenges-2016-0418-04.shtml.

NEWS SOURCE International Document Services, Inc. :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2016 Send2Press® Newswire, a service of Neotrope®.