Mortgage document preparation vendor International Document Services Inc. (IDS) says it has incorporated a new document preview feature into its integration with LendingQB’s cloud-based loan origination solution (LOS).
The feature allows LendingQB users to preview mortgage documents, such as the Loan Estimate or Closing Disclosure, before they are submitted to fulfillment, enabling lenders to spot and correct errors prior to the creation of the final document.
“When it comes to executing compliant, error-free mortgage transactions, the stakes are higher than ever,” says Mark Mackey, vice president of IDS, in a release. “Quite often, lenders are drawing fresh sets of documents each time a change is made because they have no other recourse for ensuring that changes are reflected accurately in the final document.
“The document preview feature with LendingQB enables our mutual customers to see how changes will affect the final document in real time, eliminating the need to draw multiple docs or doc packages and reducing the probability of an outdated or incorrect document making it to the final document package,” Mackey adds.
As a result of the ‘lights out’ integration between LendingQB and IDS, users are able to preview docs from the idsDoc system directly within the LendingQB platform. Preview docs are displayed as a PDF, the same format in which the final document package is delivered, but with a “SAMPLE” watermark, ensuring that the preview document cannot be mistaken for the final document.
“Accurate generation of mortgage documents is really the primary goal of any LOS,” says Tim Nguyen, president of LendingQB. “That is why the preview feature with IDS is so important. It provides our lenders with another tool to mitigate errors in the document generation process, saving them a significant amount of time and money throughout the closing process and beyond.”