Business, Product Launches

ACES Quality Management Releases Call Monitoring Audit Pack to Enhance Mortgage Quality Control and Compliance Programs

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, has announced its newest product offering, ACES Call Monitoring Audit Pack. The pre-built, configurable Call Monitoring Audit Pack enables lenders and servicers to establish an additional layer of protection quickly and seamlessly within their QC program. ACES Call Monitoring Audit Pack includes custom data fields, ACES managed questionnaires and custom reports configurable to the individual organizations' business needs.

"With the rise in higher escrow charges from insurance and property taxes, we expect banks and mortgage servicers will see an uptick in consumer calls, thus creating a clear need for a call monitoring tool as part of their overall quality control program," said ACES CEO Trevor Gauthier. "With so many guidelines to adhere to, a robust Call Monitoring program is critical to identifying where improvements are needed to protect your organization from regulatory and reputational risk."

Call Monitoring is essential to any substantial risk management program as required by the Consumer Financial Protection Bureau (CFPB) and under the Telephone Consumer Protection Act (TCPA), the Fair Debt Collection Practices Act (FDCPFA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as well as state-specific laws. While ACES users have always been able to perform call monitoring audits by leveraging ACES' robust customization capabilities, the new ACES Call Monitoring Audit Pack gives our customers a starting point to quickly and easily leverage the pre-built features. As part of the ACES technology ecosystem, ACES Call Monitoring Audit Pack comes pre-built with the necessary data fields, requirements, and reporting functions to make auditing seamless and will allow servicers to:

* Improve service quality and enhance the customer experience;

* Identify agent skill gaps as input for coaching and training needs;

* Increase productivity; and

* Ensure regulatory compliance to avoid high penalty fines.

"Given all the economic and environmental change in recent years, servicers have felt the brunt of it all. From COVID-19 to natural disasters, they have been on the frontlines of borrower communications. As regulators turn their attention to call monitoring to ensure consumer protection, at a minimum, servicers need to take action through QC tech to show regulators they are utilizing their resources effectively," added Gauthier.

To learn more about ACES Call Monitoring Audit Packs or schedule a demo, visit: https://www.acesquality.com/demo.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control Software® to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit https://www.acesquality.com/ or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, MBA Servicing Solutions Conference, Regional Events

ACES Quality Management Executive Vice President of Compliance, Amanda Phillips, to Speak at 2024 MBA Servicing Solutions Conference and Expo

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the Executive Vice President of Compliance Amanda Phillips will be speaking at the 2024 Mortgage Bankers Association (MBA) Servicing Solutions Conference taking place February 20-23, 2024, at the Hyatt Regency in Orlando, Fla.

Phillips will moderate the session, "Policy & Compliance Track: Top Servicing Compliance and Fair Servicing Concerns," on Wednesday, Feb. 21, at 1:30 pm. This session will "explore the top compliance and policy trends in mortgage servicing today. Topics explored include a continued regulatory focus on fair servicing, loss mitigation developments, and market challenges." Representatives from Servbank, Alston & Bird, LLP, and Padgett Law Group will join Phillips on the panel.

"Improving compliance and fair servicing should be an initiative for every lender. We're pleased to be the industry's resource for staying up to date on best practices and changes in compliance requirements," said ACES CEO Trevor Gauthier. "Mandy is a wealth of knowledge. She will undoubtedly provide this year's attendees with food for thought as to how they can safeguard the integrity of their originations through robust quality control practices."

Phillips has two decades of experience in the financial services industry, including holding executive roles in legal and regulatory compliance. Prior to joining ACES Quality Management, Phillips was with the law firm Ballard Spahr, LLP, where she advised clients on federal and state regulatory requirements governing mortgage lending, including business processes and practices, software, and mortgage documents.

To learn more, visit the ACES team at booth number 410 or set up a meeting in advance by emailing sales@acesquality.com.

Phillips will also be presenting the latest mortgage servicing news, including the Consumer Financial Protection Bureau (CFPB) supervisory highlights and specific 2024 compliance expectations and predictions, on February 14, 2024, as part of the ACES QC Now webinar series. Register here.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, ACES Flexible Audit Technology gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on I.T. or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Software

Ruoff Mortgage Selects ACES Quality Management & Control to Improve Loan Quality Enterprise-wide Across Multiple Product Lines

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced that Ruoff Mortgage Company, Inc. (Ruoff Mortgage), a full-service residential mortgage lender, has selected its flagship audit platform ACES Quality Management & Control® Software to support the company's origination and servicing quality control (QC) audits.

"By prioritizing compliance and loan quality, lenders can gain deeper business insights while staying ahead of ever-changing regulatory requirements. Given Ruoff Mortgage's 70 retail locations throughout the Midwest, as well as its online reach to 45 states, there's a significant amount of compliance ground to cover," said ACES CEO Trevor Gauthier. "Our technology enables lenders to ensure compliance at all levels while also providing lenders with the flexibility to align our system with their unique needs and internal structure to improve internal reviews, communication and defect remediation, with the overall goal of reducing risk and enhancing loan quality."

Ruoff Mortgage selected ACES to help support its quality assurance, quality control and internal audit processes enterprise-wide to help track loan quality and effectively and quickly identify, communicate and remediate exceptions. Using ACES managed questionnaires, action planning capabilities and the ACES CONNECT communication portal, Ruoff Mortgage can seamlessly review 300 loans monthly while communicating report findings internally and reviewing its quality control and assurance procedures.

"ACES will tremendously improve our audit accuracy and produce clear, easy-to-read reports in minutes," said Diana Ringer, Chief Compliance Officer at Ruoff Mortgage. "It will help increase productivity, efficiency and quality, all while controlling overall costs."

About Ruoff:

Ruoff Mortgage is a full-service residential mortgage company with 70+ retail locations and originates in 45 states through their online consumer direct division. They have been recognized by several prominent industry publications such as the Scotsman Guide's list of Top Mortgage Lenders and Mortgage Executive Magazine's Top 100 Mortgage Companies in America and have been listed on the Inc. 5000's Fastest Growing Companies for nine years in a row. Ruoff Mortgage has a 98.2% customer satisfaction rating, as compiled by CX leader, Customerville. For more information, visit www.ruoff.com.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 4 of the top 5 and more than 50% of the top 50 independent mortgage lenders;

* 7 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 1 of the top 3 credit unions in the USA.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Alliances and Partnerships, Business, Free News Articles, Software

ACES Quality Management Partners with Financial Services RegTech Provider Winnow Solutions

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced it has partnered with Winnow Solutions to power certain compliance and regulatory operations within ACES through its RegTech platform Winnow®. An innovative and dynamic financial law database built by attorneys and powered by cutting-edge technology, Winnow takes the guesswork out of compliance by instantaneously identifying regulatory requirements applicable to specific institution types and products. The addition of Winnow's comprehensive database helps ensure ACES continues to provide its users with the most accurate and up-to-date information on state regulations.

"Maintaining compliance with all applicable rules and regulations is one of the most critical outcomes of lenders' quality control processes. However, managing the sheer volume of regulatory requirements from both the state and federal level can overwhelm even the most seasoned, well-staffed compliance team, which ultimately puts loan quality in jeopardy and exposes organizations to unnecessary risk," said ACES President and Chief Operating Officer Phillip McCall. "Because it was incubated inside of one of the industry's preeminent legal advisory firms, Winnow serves as a powerful resource for tracking compliance changes at all levels, and we are thrilled to leverage the extensive Winnow regulatory database to enhance the compliance support ACES delivers to our clients."

Winnow covers state laws and regulations specific to the full lifecycle of mortgage, auto, credit card, consumer and commercial-purpose lending and financing. The platform also includes generally applicable requirements that impact the lending and servicing of these products, including such topics as marketing and advertising, debt collection, telemarketing, notary requirements, electronic signatures and documents, powers of attorney and privacy/data security. With Winnow, subscribers can instantaneously and intuitively create a survey of laws based on any of these topics, export the results to their chosen file format, and save them to receive tailored updates of law changes.

"Operating or scaling a financial services company is highly difficult, even under the best of circumstances. Add on the constant change of regulatory requirements, and it becomes even more daunting. That's why a trusted partner like ACES is crucial for speeding up the audit and approval process," said Chris Hilliard, Chief Operating Officer and a Founder of Winnow Solutions, LLC. "We're delighted that ACES has chosen Winnow to power its compliance research, allowing it to deliver even more value to its customers. ACES has an excellent reputation as an industry leader in the QC space, and we deeply appreciate the trust it has placed in us."

About Winnow Solutions

Winnow Solutions, LLC is the developer of Winnow ®, a database-driven, RegTech platform that provides subscribers with accurate topic-driven surveys and automated compliance change management. Winnow catalogues over 45,000 individual state law requirements maintained by an experienced team of specialized attorneys and professionals. Winnow subscribers build highly tailored state law compliance surveys unique to their business type, licensing, financial products and jurisdictions, with federal law surveys coming soon. Winnow Solutions, LLC is a subsidiary of Buckley LLP, a law firm that focuses on financial services, government enforcement, and litigation, and that has been recognized as "The best at what they do in the country" by Chambers USA. For more information, visit https://www.winnow.law or call 1-888-488-6797.

About ACES Quality Management

ACES Quality Management, formerly known as ACES Risk Management (ARMCO), is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control Software® to improve audit throughput and quality while controlling costs, including:

* 3 of the top 5 and more than 50% of the top 50 independent mortgage lenders;

* 7 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 1 of the top 3 credit unions in the USA.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment.

For more information, visit http://www.acesquality.com/ or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles

Knowledge Coop Appoints Brian Paine as Director of Technology

VANCOUVER, Wash. -- Knowledge Coop, the industry's top online compliance training and virtual work platform, today announced it has hired Brian Paine as Director of Technology. His responsibilities at Knowledge Coop include maintaining a stable working environment for all of Knowledge Coop's technical operations, including its flagship virtual workspace for centralizing compliance training The Coop; spearheading future tech enhancements and improvements; and ensuring security processes are up-to-date and monitored.

"Brian Paine's decades of experience in the tech industry make him an already invaluable and welcome addition to the Knowledge Coop team," said Knowledge Coop president Ken Perry. "As Knowledge Coop continues to grow, we expect Brian's expertise to play a pivotal role. Brian's experience as security and infrastructure will be particularly valuable as we expand the features and functionality of The Coop."

Paine comes to Knowledge Coop after spending nearly four years at PayPal as both a Security Architect and Infrastructure Architect. Paine has also served in integral technology roles at Entisys360, Western Precooling, Live Nation, Charles Schwab and Nordstrom.

"I look forward to the opportunity to work side-by-side with Ken and the Knowledge Coop team to leverage my 23 years of experience in the tech industry in bringing Ken's extraordinary vision and SaaS platform to unprecedented levels with its current and ever-growing user base," said Paine. "Over the last 13 years, I have watched Ken bring to market a well-thought and extremely customer-centric SaaS learning management system, business social platform and community that serves to enlighten and entertain in very unique, thought-provoking and fun ways.

"This is yet another new and exciting chapter in my career, and I am ready for the next ride and where my Knowledge Coop leadership team peers and I will take it," continued Paine.

About Knowledge Coop

Knowledge Coop has transformed compliance, continuing education and training in the mortgage industry. In addition to creating entertaining and engaging NMLS, pre-licensure and annual compliance training videos, the company has also developed The Coop, a virtual workspace for delivering, tracking and reporting on training. Users can also collaborate and communicate with their peers and Knowledge Coop's team of compliance experts, thus creating an internal hub for education and expertise. To date, Knowledge Coop has helped more than 100 mortgage and real estate companies and 24,000 users maintain compliance with federal and state continuing education requirements as well as housing finance rules and regulations. To learn more, visit https://www.knowledgecoop.com.

Related link: https://www.knowledgecoop.com/

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Business, Free News Articles, Software

Promontory MortgagePath Recruits Elisha Werner as Chief Compliance Officer

DANBURY, Conn. -- Promontory MortgagePath LLC, a leading provider of comprehensive digital mortgage and tech-driven fulfillment solutions, announced today it has recruited Elisha Werner as chief compliance officer, mortgage operations. In this role, Werner will lead compliance efforts for Promontory MortgagePath's residential mortgage operations and oversee the regulatory and compliance implementation process including contributing to and testing the company's cutting-edge compliance controls and digital mortgage origination technology.

In addition, Werner will support the development, implementation and ongoing performance of Promontory MortgagePath's compliance management system, which serves as the foundation for its mortgage fulfillment services.

"Compliance is the foundation on which our solution is built, and Elisha's demonstrated experience in mortgage compliance will directly support us in equipping lenders with best-in-class technology at the highest level of compliance adherence," said Debora Aydelotte, chief operating officer at Promontory MortgagePath. "Her role as chief compliance officer enhances our digital mortgage and fulfillment services platform, further reducing lenders' risk, and strengthening Promontory MortgagePath's position as a trusted partner in managing today's regulatory burden."

With more than 20 years' experience in mortgage-industry compliance, Werner has served as general counsel of a title company, chief compliance officer of a mortgage banker and most recently as chief compliance counsel for Opus Capital Markets Consultants. In these roles, she managed all aspects of compliance oversight for operations, loan file due diligence and quality control.

"In today's environment, there are plenty of fintech providers building technology where compliance is secondary or an afterthought. As community lenders grow their mortgage operations, it is more important than ever they leverage digitally-driven mortgage services prioritizing compliance," said Werner. "Promontory MortgagePath's commitment to keeping abreast of the latest regulatory and investor changes offers community lenders assurance that as their loan volumes increase, their level of compliance risk will not respond in kind, and I am eager to utilize my expertise in this area to help maintain this commitment to our community lender partners."

To learn more about open positions at Promontory MortgagePath, visit mortgagepath.com/careers. Contact careers@mortgagepath.com to submit a resume or other inquiries.

About Promontory MortgagePath LLC | NMLS ID 1532373

Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today's rapidly-changing residential mortgage market. Promontory MortgagePath's founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for their ability to help community lenders resolve their most pressing challenges. To learn more, https://www.mortgagepath.com.

Related link: https://www.mortgagepath.com/

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Advertising and Marketing, Business, Free News Articles, Product Launches

MQMR Adds Mortgage-Focused Social Media Monitoring Platform

LOS ANGELES, Calif. -- Mortgage Quality Management and Research, LLC (MQMR) announced today that it has added ActiveComply, a social media monitoring platform, to its suite of audit, risk and compliance-focused solutions for financial institutions and independent mortgage lenders.

The platform, which is offered through a partnership agreement with the platform's developer and namesake, provides lenders with the ability and agility to proactively manage, monitor and extend their companies' social media reach while maintaining compliance with financial marketing and records retention regulations.

"Social media has become a ubiquitous component of today's marketing strategies for loan officers and mortgage companies, so much so that lenders need more comprehensive tools for monitoring social media compliance than simply 'the eyeball test,'" said MQMR President Michael Steer. "Because MQMR's compliance team has conducted thousands of marketing compliance reviews, which include social media content, we are keenly aware of the challenge lenders face in this regard, and by providing an automated solution for monitoring, we are not only expanding our clients' compliance coverage, but also providing them with valuable peace of mind."

The ActiveComply platform can be configured to reflect the user's unique corporate social media policy specifications and offers a simple user interface and one-touch executive reporting capabilities, as well as notifications sent to a company's in-house compliance team with flagged content for review. Available functionality includes but is not limited to: discovery and continuous monitoring of company and loan officer social media accounts and websites, detection of unauthorized online activity, identification of missing compliance requirements and archival of online contents to meet regulatory record retention requirements.

For more information or to schedule a demo with MQMR, visit https://www.mqmresearch.com/services/social-media-compliance-marketing/.

About Mortgage Quality Management and Research, LLC

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

*LOGO for Media: https://www.Send2Press.com/300dpi/18-0118s2p-MQMR-logo-300dpi.jpg

Related link: https://www.mqmresearch.com/

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Business, Free News Articles, Software

ARMCO Updates ACES IQ to Provide Guidance on Regulatory Changes Made in Response to COVID-19 National Emergency Declaration

DENVER, Colo. -- ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, announced it has created a new question set category within its ACES Intelligent Questionnaire (ACES IQ) functionality to house all temporary regulatory provisions issued by state and federal agencies and the GSEs in response to the COVID-19 national emergency declaration. The new category provides ACES users with a centralized repository inside ACES Audit Technology to ensure audits are conducted using the most up-to-date compliance standards.

"With new information and guidance being issued seemingly by the minute at all supervisory levels, the task of collecting and tracking these changes can overwhelm even the most robust compliance department," ARMCO CEO Trevor Gauthier said. "In these challenging times, it is more important than ever for ARMCO to support its customers in their compliance, quality control and risk management efforts, and our team is dedicated to staying on top of these temporary provisions to ensure our clients are always working with the most current information available."

To help the industry at large stay informed of these changes as they arise, ARMCO is also tracking compliance news related to COVID-19 in its Compliance NewsHub, a free credit and compliance research library curated by ARMCO's in-house compliance team covering updates from regulators and investors. Readers can search for all COVID-19 compliance updates and news within the "Disaster News" category. In addition, ARMCO's compliance team has added all current dates for temporary compliance provisions related to COVID-19 on the Compliance Calendar, ARMCO's searchable roundup of compliance dates and deadlines, under the tag "COVID-19."

To subscribe to the Compliance NewsHub Weekly Roundup and Compliance Calendar, visit https://www.armco.us/compliance-newshub/subscribe.

About ARMCO

ARMCO is the leading provider of loan quality enterprise software, services, data and analytics for financial institutions and independent mortgage lenders. Its flagship product, ACES Audit Technology(tm), has set the bar for user definability in its category and is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations across the consumer lending spectrum. Over half of the top 25 mortgage lenders and 33% of the top 150 lenders and servicers combined choose ARMCO. ARMCO's consultative approach to customer relationships leverages 25 years of risk intel, ensuring that its clients are using the most effective risk mitigation strategies and the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality.

For more information, visit www.armco.us or call 1-800-858-1598.

Related link: https://www.armco.us/

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Business, Free News Articles, Software

IDS Strengthens State-Specific Mortgage Document Preparation Functionality

SALT LAKE CITY, Utah -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced today that it has enhanced eSign tools for state-specific document functionality in its flagship document preparation platform idsDoc. The addition of this functionality enables IDS clients to automatically access state-specific documents that are electronically fillable, where allowed by law.

"Because of the variances between state regulators, maintaining compliance at the state level is in many ways even more burdensome for lenders than doing so at the federal level - especially when adding digital mortgages to the mix," said IDS Vice President and General Manager Mark Mackey. "State-level compliance has always been a hallmark of the IDS platform. We are thrilled to make our digital mortgage functionality available to clients for use in the execution of state-specific documents and to help them maintain compliance while supporting their individual digital mortgage strategies."

The IDS library of state-required documents puts the standard collection of state documents at lenders' fingertips. This library is a collection of expansive regulatory research and is maintained and updated regularly by the IDS Compliance Department. In addition, the department maintains the "IDS State Disclosure Matrix," a reference document which lists the state-specific documents available in idsDoc and notes the default parameters used to determine when specific documents should be included in a loan package. This Matrix is available through the Customer Portal and in the IDS Help Center.

In addition, clients can have all disclosure documents electronically signed in the eSign Room with a unique login and secure email link for each document signer. Through this functionality, reviewing is verified and reported, and all compliance requirements, including timing requirements, are met. In the event the eSignatures cannot be verified, a physical disclosure package can be automatically sent by the IDS Fulfillment Center.

With IDS' expanded signing tools, loan officers and processors save time with the document verification process as completed by the borrowers. The review and signing functions have been expanded to allow the filling of text boxes and check boxes. These tools can be used with the standard documents as well as any custom documents the lender wants to include. This feature also eliminates the need to pre-disclose or include printed documents that require borrower selections and data input.

"As technology continues to improve the digital mortgage experience, IDS strives to meet its clients' every anticipated need in idsDoc," Mackey added. "By adding this functionality to our already expansive multi-state document preparation offering, we are simplifying things for our clients even more while maintaining our continued commitment to providing compliance support at all levels."

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 eSignatures, 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: https://info.idsdoc.com/

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

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Business, Free News Articles, Software

IDS Enhances Audit Worksheet Functionality in idsDoc

SALT LAKE CITY, Utah -- Mortgage document preparation vendor International Document Services, Inc. (IDS), today announced that it has redesigned the audit worksheet feature in its flagship document preparation platform idsDoc. Now, the audit worksheet dynamically displays vital loan information, including a record of audits and tests conducted, in a single, easy-to-read document, providing investors and auditors with a full understanding of the loan file.

"Today's lenders are required to conduct more testing than ever to ensure their loans meet both regulatory and investor requirements, but without proper documentation to prove these tests were conducted, lenders can miss opportunities to pass the first-glance eye test as well as to reference pending due diligence efforts," said IDS Vice President and General Manager Mark Mackey. "This document has quickly become accepted as a compliance certification for many investors' policies. By providing our clients with an easily referenced summary of audit activities, IDS is fulfilling on its promise to our customers to support their compliance efforts and deliver loan packages that are as precise as possible."

In addition to information on which tests and checks were performed, the audit worksheet also includes calculated values on data related to state, local and custom fields, thus providing an additional layer of security regarding compliance. The document is also intended to serve as a reference point to illuminate inaccuracies or differences between regulatory interpretations.

"Between human error and the often obscure nature of regulatory language, data discrepancies are bound to occur in the origination process," Mackey added. "The IDS audit worksheet serves as an added check to help lenders identify these instances before they cause issues or come to the attention of investors and regulators, thus preserving loan quality and lenders' reputations with these key stakeholders, and so far, the worksheet has proven to be an effective tool for achieving these goals."

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 eSignatures, 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. (https://info.idsdoc.com/)

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

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