SALT LAKE CITY, Utah (CitizenWire) — According to Curt Doman, president of International Document Services (IDS), a mortgage document preparation vendor, 2010 marked the second year in a row the firm saw significant growth in the number of document packages prepared. In addition to a 23 percent increase in doc volume over 2009, IDS also achieved company record numbers in Q2 and Q3 for the amount of doc packages prepared in a single month. This year also marked the fifth consecutive year of triple-digit numbers of new customers signed by IDS.
“2007 and 2008 were some of the lowest periods IDS has had, volume-wise, which isn’t surprising since this period was the very beginning of the subprime fallout and the resulting financial crisis,” said Curt Doman, president of IDS. “Given the depressed lending market and the reluctance of organizations to invest in vendor services across the board, the fact that we were able to achieve 135 percent growth in doc volume between 2007 and 2010 is extraordinary, and we feel that growth is attributable the quality of our docs, the responsiveness of our support staff and the compliance education we provide to our customers free of charge.”
Other changes for IDS in 2010 include the rollout of updates to the idsDoc system stemming from changes to RESPA, HVCC and Graham-Leach-Bliley. Additionally, IDS and Del Mar DataTrac (DMD) rebuilt the interface between their two systems to improve lenders’ user experience when using idsDoc and DataTrac.
“Overall, 2010 saw a slew of doc-related regulatory changes, and 2011 doesn’t look to be any different,” Doman said. “The overwhelmingly positive customer feedback we received about how IDS handled last year’s regulatory changes validates our internal process for how we handle those changes so I feel confident that IDS will be able to handle whatever comes down the pike from Washington, D.C. this year.
“Our focus for 2011 is going to be adding enhancements to the idsDoc system that will move our customers that much closer to realizing fully electronic loan originations and strengthening our vendor partnerships to ensure that lenders have a positive, seamless user experience, regardless of what other systems they have in place,” he added.
About IDS Inc.
IDS is a nationwide provider of mortgage documents and compliance. IDS services include closing documents, reverse documents, initial disclosures and fulfillment. IDS’s solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs. IDS backs the system with unsurpassed customer service, cutting-edge technology, compliance and document guarantees and a solid compliance team. Lenders looking to move forward when it comes to doc prep can visit the IDS website at www.idsdoc.com or call 800.554.1872.
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