Mortgage document preparation vendor International Document Services (IDS) has released its e-vault, expanding the capabilities of its e-closing platform, Solitude Solution.
With the addition of the e-vault to Solitude Solution, mortgage lenders now have the ability to deliver documents, including e-notes, to partners though Mortgage Electronic Registration Systems Inc. (MERS) e-registry.
The IDS e-vault is approved by Fannie Mae and Freddie Mac and includes secure e-delivery and e-transfer functionality for digital mortgage documents, allowing lenders to quickly and easily register e-notes with MERS. Prior its release, the e-vault underwent a beta testing phase, during which IDS collected feedback on the product.
“As the mortgage industry continues to progress to a completely digital experience, IDS proudly delivers in-demand innovative e-closing technology backed by our industry-leading customer service support,” says Mark Mackey, vice president and general manager Mark Mackey. “Our e-vault has undergone rigorous testing and a successful beta testing phase, ensuring it meets the high standards our clients have come to expect of every IDS product. We look forward to helping more lenders expand their e-closing and digital mortgage offerings with our expansive e-closing platform, Solitude Solution.”
Solitude Solution includes a single sign-on function with multi-factor authentication, allowing lenders to create one login credential linked to the entire e-closing process. Once the e-sign process for a closing package has been completed and the settlement agent has finalized the closing package, the e-note is automatically generated in the lender’s e-vault. This allows the lender to begin the processes of registering the e-note with MERS, sending the e-note to parties such as the master services via e-delivery and transferring the ownership of the e-note via e-transfer.
“Our customer support team is well-prepared to support our clients as they proceed with the e-vault,” says David Clement, director of operations. “We have a committee in place to ensure our team has the necessary training to fully support e-vault operations and setup, and to work with any unexpected client needs and requests that may arise. I am confident that our lenders will be satisfied, both by the e-vault itself and by the expert support behind it.”