Mortgage document preparation vendor International Document Services Inc. (IDS) and end-to-end loan origination system provider LendingQB have integrated their systems, thus allowing LendingQB users to generate zero-default initial disclosures and closing documents using the idsDoc solution without having to leave the LendingQB system.
The two companies say this integration will help lenders comply with new mortgage banking regulations, including those imposed by the Consumer Financial Protection Bureau, as it results in improved data integrity and accuracy. Such integrations are known to safeguard the transfer of data between systems, reducing the risk of non-compliancy resulting from data inconsistencies.
‘The LOS partnerships we develop are some of the most important to our business and what keeps our technology relevant in an always-changing industry,’ says Mark Mackey, executive vice president of IDS. ‘The kind of 'lights out' interface we've developed with LendingQB is the future of LOS-doc prep integration.’
‘Now more than ever, it is business-critical that lenders remain in compliance within every single facet of their business, and compliant document preparation is certainly an area of concern,’ adds Binh Dang, president of LendingQB. ‘The development of a completely seamless integration between our LOS and idsDoc ensures that the data used in disclosures and documents are completely accurate and compliant for our mutual clients.’