That means mortgage lenders using PathSoftware now have a seamless interface with idsDoc, which, in turn, helps them streamline the generation and fulfillment of loan estimates and closing disclosures.
CalyxSoftware claims PathSoftware is the industry’s first completely data-driven, not form-driven, LOS, which means users input all borrower and property information once in logical data fields (not across multiple forms), and then the software uses this data to populate the forms.
This also makes it easier to adapt to and comply with new regulations, unlike form-based systems that have to be almost completely rewritten when rules change, the company says in a press release.
When a new form is required – for example, the upcoming Uniform Residential Loan Application (Freddie Mac Form 65 or Fannie Mae Form 1003) – Path developers simply add the new fields and map them to the correct lines on the new forms.
IDS’ services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading LOS, and e-closing platforms.