Business, Free News Articles, Software

Ascend Federal Credit Union Automates its Residential Mortgage Lending Business with OpenClose’s LenderAssist LOS and DecisionAssist PPE

WEST PALM BEACH, Fla. -- OpenClose(R), an industry-leading multi-channel loan origination system (LOS) and mortgage fintech provider, announced that Ascend Federal Credit Union (Ascend) is leveraging its LenderAssist(TM) LOS platform and DecisionAssist(TM) product and pricing engine (PPE). OpenClose's completely browser-based solution has delivered additional efficiencies and heightened service levels for the credit union's growing mortgage lending division.

Ascend engaged with OpenClose to provide the credit union with a robust LOS that will simplify its mortgage processes, ensure compliance, improve efficiencies, maximize productivity and reduce costs -- without the time and expense of implementing and maintaining a legacy system. LenderAssist was configured to support Ascend's specific business processes and automate the lending workflow from start to finish. The entire platform was implemented in less 60 days.

"Since implementing OpenClose, we have enhanced our overall mortgage lending process and ability to provide faster, better service to members looking for a home loan," said Don Gilliam, vice president of mortgage lending at Ascend. "The team at OpenClose is outstanding to work with and always provides very responsive, personalized customer support to our mortgage staff."

LenderAssist is cost effectively delivered on a software-as-a-service (SaaS) basis. OpenClose maintains the entire system for Ascend, thus avoiding the need to add internal staff and dramatically reducing total cost of ownership. DecisionAssist provides instant, accurate loan pricing and eligibility for Ascend's mortgage staff. OpenClose's team of mortgage specialists manage all guidelines and pricing on a daily basis for Ascend. In addition, as Ascend grows, LenderAssist is designed to flex and scale with the business, preventing expansion challenges.

"Attaining a home loan can be an intimidating, complex experience for many consumers, but Ascend's focus on service and use of technology makes it very easy for members to do business with them," says JP Kelly, president of OpenClose. "LenderAssist and DecisionAssist have contributed to Ascend's already high service levels by helping add simplicity, transparency and excellence in service to members."

LenderAssist creates a seamless workflow process that eliminates manual touch points, freeing Ascend employees up to devote more time to member service. Throughout the origination process, OpenClose checks for QM/ATR, Reg B, Reg Z, fee tolerance, state and federal rules and regulations, and TRID compliance. Robust reporting tools documents everything done during the lending process for auditing and compliance purposes.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading enterprise-class, multi-channel loan origination system (LOS) and fintech provider that cost effectively delivers its platform on

a software-as-a-service (SaaS) basis. The company provides a variety of innovative, 100 percent web-based solutions for lenders, banks, credit unions, and conduit aggregators. OpenClose's core solution, LenderAssist(TM), is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit https://www.openclose.com/ or call (561) 655-6418.

OpenClose Twitter: @openclosesocial #mortgagetechnology #fintech #loanoriginationsoftware #creditunionsoftware

About Ascend Federal Credit Union:

With more than $2 billion in assets, more than 170,000 members and more than 500 employees, Ascend is the largest credit union in Middle Tennessee and one of the largest federally chartered credit unions in the United States. The National Association of Federal Credit Unions (NAFCU) selected Ascend as the 2015 Federal Credit Union of the Year. Ascend is federally insured by the NCUA. https://www.ascendfcu.org/

Related link:

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

Business, Free News Articles, Product Launches, Software, Taxes and Accounting

Ready for Next Tax Season? New TaxBird App Designed for People with Homes in More than One State

NAPLES, Fla. -- With this year's tax season in the rear-view mirror, there's no better time to start prepping for the next round. TaxBird - a new tax app developed by ware2now, LLC - helps people with homes in more than one state ensure they don't exceed their residency threshold. It's useful to tax professionals and estate planners too.

Tracking residency is more important than ever due to a new federal tax reform, which caps the amount taxpayers can deduct in state and local income, sales and property taxes to $10,000.

How does it work? Once downloaded to a smartphone, the app runs in the background and tracks location in real time. Throughout the year, updates and warnings are sent as users approach a threshold. At the end of the year, it generates a report that's easy to understand and valuable in case of an audit.

Jim Simon, co-founder of ware2now LLC and co-developer of TaxBird, resides in Westport, Conn. and Naples, Fla. He says this app came about when his business partner, Brian Ochs, learned that he was tracking this information in Excel. Brian said, "Let's build an app for that."

"It's been a lot of fun," Simon says. "We launched the app in October of last year and are already working on the next version, which will include a planning module."

Simon says there are some similar apps out there, but they're more complex and cost more too. TaxBird was designed with simplicity in mind, using bold fonts and straightforward displays. And, after a free 30-day trial, a subscription is only $19.99 per year.

Download the TaxBird app from iTunes (an Android version is being developed) and from https://www.taxbird.com/.

About ware2now, LLC:
Founded by successful tech entrepreneurs, Jim Simon and Brian Ochs, ware2now LLC developed TaxBird, a mobile application that tracks how many days people spend in each state for tax purposes. Previously, Simon and Ochs founded Spire, a data marketing and analytics company focused on grocery retailers and consumer packaged goods. They sold Spire in 2014 to Datalogix, which was acquired a year later by Oracle.

Related link:

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

Awards and Honors, Business, Drugs and Pharmaceuticals, e-Commerce, Free News Articles, Long Term Care, Software

Healthcare Tech Outlook Names Delta Care Rx a Top 10 Pharmacy Management Solution Provider

FREMONT, Calif. -- Delta Care Rx, a leading pharmaceutical innovator in end of life care, has been named one of the "Top 10 Pharmacy Management Solution Providers of 2018," according to Healthcare Tech Outlook, a digital and print magazine publication of Valley Media, Inc.

The "Top 10" award was published online March 27, as well as in a Special Issue print edition on April 5, with Delta Care Rx Founder, President, and COO Drew Mihalyo on its cover. Mihalyo, known for his commitment to technological innovation providing unique programs for hospice customers exclusively offered by Delta Care Rx, is quick to share the credit for the company's success.

"This recognition is a testament to the strength and commitment of the entire Delta Care Rx team," says Mihalyo. "We work together, both within Delta and with our integration partners, to ensure prompt attention and great sensitivity to meet each patient's needs related to pain and symptom management."

The in-depth feature article, "Delta Care Rx: Enhancing the End of Life Care Experience," states that the company "sets the industry benchmark in pharmaceutical benefits management in end of life care," fulfilling its mission of transparency and commitment to quality of care at every level of the organization. In addition to providing benefit management or mail order pharmacy to clients, Delta Care Rx offers a range of cutting edge telemedicine solutions designed to simplify workflow and ordering processes and improve quality of care. The article places these within the context of the broader pharmaceutical and end of life care industries.

"We take pride in honoring Delta Care Rx for offering innovative solutions that are revolutionizing the way hospice and palliative care providers are served in the Pharmacy Management arena," said Alex D'Souza, managing editor of Healthcare Tech Outlook.

With the announcement, Delta Care Rx joins an elite group of pharmacy management solutions providers known to provide innovative technologies which ultimately enhance clinical efficiency and dramatically reduce costs for hospice organizations. The magazine's editorial board independently applied a set of criteria to a broad selection of pharmacy management firms, then narrowed the designation to the Top 10 listing.

Delta Care Rx - http://www.deltacarerx.com/ - transforms and improves the hospice pharmacy industry through business transparency, innovation, extreme customer service, and the maintenance of vital community pharmacy relationships.

About Delta Care Rx:

As a pharmacist owned, privately held provider, Delta Care Rx - http://www.deltacarerx.com - sets the industry benchmark for pharmacy benefit management, creative prescription mail order, on-demand pharmacist services, and hospice tailored e-Prescribing. Additionally, Delta Care Rx offers electronic tools, including cutting-edge telemedicine technology, to improve the quality of palliative patient care during serious illness or at end of life and simplifies essential workflow/ordering processes within hospice settings.

About Healthcare Tech Outlook:

Published from Fremont, California, Healthcare Tech Outlook is a print magazine, which features CIOs, ITVPs, CTOs, and other decision makers sharing their insights and perspective on healthcare industry. A panel of experts, technology leaders and board members of Healthcare Tech Outlook magazine has finalized the "Top 10 Pharmacy Management Solution Providers 2018" and shortlisted the best vendors and consultants in the healthcare industry. For more info, visit: https://www.healthcaretechoutlook.com/.

Related link:

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

Business, Free News Articles, Software

Cloudvirga Adds Award-Winning Appraisal Order Management from Mercury Network to Its Digital Mortgage Point-of-Sale Platform

IRVINE, Calif. -- Cloudvirga(TM), a leading provider of digital mortgage point-of-sale (POS) software whose enterprise technology is powered by the Intelligent Mortgage Platform(R), today announced its completion of a fully automated, lights-out integration with Mercury Network, part of CoreLogic (NYSE: CLGX) and one of the industry's largest appraisal order management platforms. The integration makes appraisal ordering and management more efficient and compliant for Cloudvirga's lender customers, thereby reducing overall loan production costs.

Cloudvirga's intelligent appraisal engine ensures efficiency and compliance throughout the appraisal lifecycle by accurately determining which appraisal forms are required for a given property location, loan amount, loan type and loan program. The seamless integration allows Cloudvirga customers to place appraisal orders directly to Mercury Network without the lender or customer having to rekey information or leave Cloudvirga's POS platform.

Once the appraisal order is placed, appraisal documents and order statuses are automatically synced between Cloudvirga and Mercury Network, and the loan file is updated in real time. As soon as the appraisal report is complete, Cloudvirga alerts both the lender and the consumer and delivers the appraisal report via its secure portal. This unique, fully automated workflow reduces human effort while satisfying compliance requirements for appraisal delivery.

"Cloudvirga's integration with Mercury Network streamlines not just appraisal ordering, but the entire appraisal process for noticeable gains in origination efficiency," said Cloudvirga Product Manager Matt Howard. "Lenders can feel more confident than ever in the compliance of their collateral valuation thanks to Cloudvirga's careful analysis of myriad data points, including loan program details, to ensure the right appraisal forms are ordered the first time, every time."

"Mercury Network's product suite is used by almost 1,000 lenders and appraisal management companies nationwide," said Jennifer Miller, president of Mercury Network, CoreLogic. "We're proud to integrate with Cloudvirga to give our mutual customers a truly seamless integration that makes appraisal ordering and delivery faster with greater accuracy and enhanced overall lending efficiency."

About Cloudvirga(TM):

Cloudvirga's digital mortgage point-of-sale (POS) software, powered by the Intelligent Mortgage Platform(R), uniquely combine a world-class borrower experience with a truly digital lender platform that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's initial customer roster includes nine of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $27 million from some of the country's top lenders and venture capital firms.

For more information, visit http://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn: https://www.linkedin.com/company/7577062/.

About Mercury Network: https://www.mercuryvmp.com/

REF: NYSE:CLGX / CORELOGIC RG ( NY: CLGX )

Twitter: @cloudvirga @MercuryNetwork #digitalmortgage

Related link:

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

Free News Articles, Software

Free Photo Recovery Software – iCare Photo Recovery Just Released

PISCATAWAY, N.J. -- iCareAll Inc. has recently released a brand new free photo recovery program called iCare Photo Recovery, which is a new product working as a totally free tool for photo rescuing. It can be used for photo loss problems, including deletion, formatting, virus infection, raw file system, improper operation, inaccessible device, system crash, partition error, etc.

"Photos are memories of our life and it keeps the best status of special moments," said Mr. Tom, the CEO of iCareAll Inc. "Many of us keep photos of our family special moments from birthday party to wedding moments or even child birth along with our life. We cannot afford to lose them. So the releasing of freeware iCare Photo Recovery is to rescue photo losses to save the best memories of our unforgettable moments if there were unexpected data losses happened."

For more information or guide of how to use iCare Photo Recovery, please go to https://www.icare-recovery.com/photo-recovery/

Besides iCare Photo Recovery, iCare Recovery offers another star product: iCare SD Card Recovery for spring giveaway, which is worth $69 and can restore various data from all kinds of storage device. And there are also other products on discount during the spring giveaway period.

Be free to take a free giveaway at: https://www.icare-recovery.com/giveaway/spring.html.

About iCare Photo Recovery:

iCare Photo Recovery is a freeware specializing in all kinds of photo recovery which can restore lost photos due to various reasons, such as accidental deletion, format, virus infection, system crash, raw drive error, etc. -- and it can repair photo(s) from various devices, including phone microSD card, PC, USB, SD card, external drive etc. And this program supports all Windows systems.

About iCare Recovery Spring Giveaway:

This is a giveaway of the star product iCare SD Card Recovery which is worth $69. This giveaway also includes some other products promotions with discount.

About iCare Recovery:

Founded in 2009, iCare Recovery from iCareAll Inc. is specialized in data recovery for various data losses. For more information about iCare Recovery, visit https://www.icare-recovery.com/

Facebook: https://www.facebook.com/icarerecoveryinc

Related link:

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

Awards and Honors, Business, Free News Articles, Software

MCT Wins PROGRESS in Lending Association’s 2018 Innovation Award for its New Bid Auction Manager (BAM) Whole Loan Trading Technology

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that PROGRESS in Lending Association, the industry's premier mortgage technology focused organization, presented the company with its annual Innovation Award for the rapid adoption and impact of its Bid Auction Manager(TM) (BAM) within the whole loan trading market.

Officially unveiled in July of 2017 at the Western Secondary Market Conference in San Francisco, BAM significantly enhances the industry's loan sale practices. The solution completely automates, centralizes, and streamlines what used to be an unsecure, fragmented, and largely manual process of exchanging, pricing, and analyzing bid tapes for loan sales. Lenders, investors, and MCT's team of mortgage loan traders benefit from a consistent process, greater transparency, and a centralized repository for bid tape management. BAM is easily and securely accessed by permissioned parties via MCT's award-winning capital market software platform, MCTlive!(TM).

Now in its eight year, the highly competitive annual Innovation Awards were presented to winners at a prestigious ceremony held by PROGRESS in Lending Association at the MBA's National Mortgage Technology Conference in Detroit, Michigan on Sunday, April 15. Judges scored applications using a weighted scale that focuses on achievements over a 12-month period for each innovation's overall industry significance, originality, positive change on the industry, intangible efficiencies gained, and hard return on investment.

"BAM is truly industry-altering fintech that is changing the way bulk bid loan tapes are transferred between lenders and investors," said Phil Rasori, COO at MCT and Chief Architect of BAM. "As we continue to add functionality and make the solution more robust, ultimately, what BAM is achieving is helping move the mortgage industry toward digital loan trading on the secondary market. We are extremely honored to have been recognized by PROGRESS in Lending as a 2018 Innovation Award winner."

Since launching BAM, functionality has been added for both lenders and correspondent investors, with several notable metrics that have been achieved:
* 100% adoption among the investor aggregator community
* 1,200+ bid tapes exchanged daily
* $7 billion+ in monthly committed loan volume
* 2+ hours saved by lenders on average per loan sale
* Shadow bidding facilitates identifying and testing new investors
* Commitment data writeback saves time and prevents data entry errors
* Live color reports put actionable data in the hands of sellers
* Timestamp analytics help measure and optimize operations.

"Using BAM saves us 2 to 4 hours every time we do loan sales. The convenience of communication and analysis has encouraged us to send bid tapes to our full set of investors more often rather than just the top-tier, resulting in a surprising pickup in some cases," said Timothy Leyoub, SVP of Capital Markets at Eustis Mortgage. "We used to bid out on a 15-day delivery, but now we've reduced that to 7-days. Working with MCT, I feel like we're in this together -reducing risk and achieving best execution."

Lenders and correspondent investors interested in learning how BAM can improve their whole loan trading processes are encouraged to request a demonstration at the upcoming National Secondary Conference in New York City, where new features are expected to be announced.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Related link:

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

Business, Free News Articles, Insurance, Legal and Law, Software

Matic Marks Commitment to Compliance with Appointment of Shaz Kojouri to Senior Management Team

SHERMAN OAKS, Calif. -- Matic, a digital insurance agency whose technology enables borrowers to purchase homeowner's insurance during the mortgage transaction, today announced it has tapped Shahrzad "Shaz" Kojouri as vice president of legal and compliance.

A licensed attorney with more than 15 years' experience in corporate compliance, Kojouri will have responsibility over corporate governance, regulatory compliance and vendor management at Matic. Prior to joining Matic, Kojouri was assistant general counsel for nonprofit student loan provider AccessLex Institute.

Before that, Kojouri oversaw regulatory compliance testing and Consumer Finance Protection Bureau (CFPB) readiness for national mortgage lender New Penn Financial. She first joined New Penn in 2009, in the immediate aftermath of the subprime mortgage crisis, and guided the lender through a time of intense regulatory change.

"Matic's strategic partners count on us to hold ourselves to the highest standards in regulatory compliance and corporate governance, and we take that commitment very seriously," said Matic CEO Aaron Schiff. "We welcome Shaz to the team and look forward to working with her to deliver an even higher level of compliance assurance to our customers."

"Spending much of the last 10 years inside a top national lender has allowed me to bring a thorough and nuanced understanding of mortgage regulations to my work with Matic," said Kojouri, who officially joined in the Matic team in January. "I look forward to helping Matic and its clients navigate these complex regulations with confidence."

About Matic:

Matic is a technology-driven insurance agency focused on helping lenders and loan officers better integrate homeowner's insurance into the lending process. By using loan application information and first-of-its-kind technology, Matic provides homebuyers multiple policy options within seconds, helping loan officers close their loans faster. Matic delivers the most trusted, affordable insurance policies available thanks to its partnerships with a diverse network of insurance carriers. Today's borrowers expect a digital home-buying experience, and Matic gives them the digital insurance experience to match.

For more information, visit http://matic.com or follow Matic on LinkedIn.

Related link:

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

Business, Education and Schools, Free News Articles

Stirling Communications Recruits Industry Veteran Alan Sylvia as Conen Mounts US Business Development Manager

STIRLING, N.J. -- Stirling Communications announces the recent hiring of Alan Sylvia as Conen US Business Development Manager. Stirling Communications is a specialty importer and boutique distributor of carefully chosen Best-in-Class Audio Visual products, including Conen Mounts, that solely utilize distributors to get their products to the resellers.

"Alan's rich experience in sales and business development in the AV business will immediately give Conen Mounts the greater representation we want throughout the entire United States," said Frank M. Culotta, President of Stirling Communications.

Alan's background in technology education and sales at Thomson Corporation, Hitachi Solutions and Avocor are a real asset for Stirling Communications as he understands the needs in education and the corporate verticals to present those products that solve the biggest user challenges.

"I'm excited to help the Stirling Communications team and the Conen brand grow its existence. We represent top quality niche products that are essential to helping dealers and integrators deploy AV solutions that extend beyond simple boxes," Sylvia added.

About Stirling Communications:

In 1999, Stirling Communications was born out of Symco Inc., an independent manufacturer's rep company and its need to connect some of our leading brands with our best integrators and customers. Stirling Communications focuses on targeted industry-leading commercial AV brands.

For more information, visit https://www.stirlingcomm.com/.

Conen Mounts info: http://www.conenus.com/.

Related link:

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

Alliances and Partnerships, Business, Free News Articles, Software

Veros and IDS Partner on Integrated Solution for Fannie Mae and Freddie Mac UCD Data Submissions

SANTA ANA, Calif. -- Veros Real Estate Solutions (Veros(R)), a leading developer of enterprise risk management, collateral valuation, and predictive analytics services, and mortgage document preparation vendor International Document Services, Inc. (IDS) announced today that they have partnered to provide lenders with a fully integrated automated delivery solution for submitting the Uniform Closing Dataset (UCD) to the Government Sponsored Enterprises (GSEs).

The Veros and IDS partnership creates a fully integrated UCD data file creation solution and submission solution. By offering lenders a single, integrated solution - similar to the Uniform Collateral Data Portal (UCDP) - and combining IDS's UCD XML file creation capability with Veros' Pathway UCD submission system, both Veros and IDS ensure full compliance with the GSEs' June 25, 2018 mandate.

"IDS is widely recognized as a leader in the mortgage document preparation space, and we are pleased to partner with them to provide lenders with a single, integrated solution to ensure compliance with the GSEs' upcoming UCD data submission requirement changes," said Robert Walker, CMB, CMT and Vice President of Sales at Veros.

According to a January 30, 2018 joint announcement made by Fannie Mae and Freddie Mac, warning UCD edits in the GSEs' respective delivery systems related to non-submission or unsuccessful UCD submission will become critical or fatal effective June 25, 2018. In addition to the edits that will turn fatal in the GSEs' delivery systems, the UCD warning edit for embedding the PDF will also convert to fatal, resulting in a "Not Successful" status, as of the June mandate.

Both GSEs are recommending that lenders prepare for the change by submitting "Successful" UCD files prior to delivering their loans, as appropriate. In response to the joint announcement from January, IDS has updated its proprietary idsDoc platform to support the directive and issued a press release on April 11, 2018 urging lenders to begin troubleshooting UCD files that resulted in a "Not Successful" status.

"IDS has been gathering feedback from our clients in an effort to error-proof the UCD submission process before the upcoming changes," added Matthew Mackey, Director of Sales and Marketing at IDS. "Veros' expertise in working with automation and providing the technology powering the UCDP make them an excellent partner not only in this endeavor, but also in our overall goal to make idsDoc as seamless and efficient as possible for our clients."

For more information about the IDS and Veros UCD solution, contact Matthew Mackey at 800-554-1872, ext. 134 or matthew@idsdoc.com.

About Veros Real Estate Solutions:

Mortgage technology innovators since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros' services include automated valuation, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is also the primary architect and technology provider of the GSEs' Uniform Collateral Data Portal (UCDP) and FHA's Electronic Appraisal Delivery portal (EAD). For more information, visit http://www.veros.com/ or call 866-458-3767.

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/.

Related link:

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

Business, Free News Articles, Software

IDS Adds Hybrid eClosing Capabilities to Its Mortgage Doc Prep Platform

SALT LAKE CITY, Utah -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced that its clients now have the capabilities to conduct hybrid electronic mortgage closings through its flagship mortgage document preparation platform, idsDoc. Hybrid eClosings allow for faster, more seamless mortgage real estate closing transactions, which can help lenders meet the Consumer Financial Protection Bureau's (CFPB) "Know Before You Owe" mandate to improve the borrower experience for consumers.

"IDS's philosophy has always been to provide solutions that help our clients meet the challenges they face today while planning for the challenges they could face tomorrow," said IDS Vice President and General Manager Mark Mackey. "Now that investors are starting to accept hybrid eClosings, we felt the timing was finally right to add that capability to idsDoc so that our clients are able to keep pace with industry acceptance of electronic processes along the eMortgage continuum."

Through this new functionality, lenders will be able to have borrowers electronically sign and execute the majority of closing documents through the idsDoc eSign room. The promissory note and any documents requiring notarization will still need to be wet-signed, though IDS plans to add eNotarization and remote notarization capabilities as those processes become legal in more states.

"Even though 21 states allow some form of eNotarization, investors are still wary of accepting loans with electronically notarized documents. In addition, only three states - Nevada, Texas and Virginia - have enacted legislation allowing remote notarizations," Mackey explained. "Once eNotarization and remote notarization become reality for the vast majority of IDS customers, we will be ready with the functionality to allow them to meet this new challenge head on."

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: https://info.idsdoc.com/.

Related link:

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