PathSoftware is now integrated with idsDoc, the flagship solution from mortgage document preparation vendor International Document Services, Inc. (IDS), according to a recent announcement from the company.
PathSoftware and idsDoc through this integration have developed an interface that streamlines the ordering process, data transfer, and the generation and fulfillment of loan estimates and closing disclosures.
“At IDS, we’re committed to making our document solution as easy as possible for our customers,” said Mark Mackey, Executive Vice President at IDS. “That’s why we’re proud to partner with a like-minded LOS, such as Path, to ensure our customers have a seamless, efficient and productive experience.”
The release states that 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. The company reports that this also makes it easier to adapt to and comply with new regulations, unlike form-based systems that have to be nearly completely rewritten when rules change. 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.
“PathSoftware is transforming the mortgage origination process and our integrations are a critical reason why,” said Doug Mitchell, director of sales and support at PathSoftware. “By partnering with IDS, we’re making the mortgage origination process significantly easier and less time-consuming for our joint clients, while also assuring document compliance.”