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International Document Services Inc. (IDS) announced that in 2014 they generated more initial disclosure docs than in any of the previous years. It’s no wonder the company deemed 2014 a record breaker. IDS also set a company record in January 2015 for the most amount of initial disclosures generated in a single month. Total initial disclosure volume for the company in 2014 increased 13.6 percent over 2013.
IDS also increased its overall document fulfillment volume in 2014 by 53 percent over 2013, and its E-sign volume increased 36 percent over the same period.
“According to data from the Mortgage Bankers Association, industry originations for Q1 through Q3 2014 were down 44 percent over the first three quarters of 2013,” said Mark Mackey, CEO of IDS. “The fact that, in a declining market, IDS was able to maintain its closing doc volume and continue to increase its initial disclosure, document fulfillment and E-sign volumes speaks to the industry’s need for compliant, zero-defect docs no matter where industry volumes might be.”
IDS added 43 percent more new clients in 2014 than 2013. When examined by sales territory, the Midwest saw the largest amount of growth (31 percent), followed by its affiliated sales reps in Texas (21 percent), the West (19 percent), the Northeast (16 percent), and the Southeast (13 percent).
“The compliance audits built into idsDoc have really set us apart in the doc prep space,” Mackey said. “IDS continues to grow because lenders appreciate having that extra level of review included in their doc prep system to ensure docs are compliant before being signed by the borrower.”
IDS was founded in 1986 in Salt Lake City, Utah and is a nationwide provider of mortgage documents and compliance. IDS services include closing documents, initial disclosures, and fulfillment. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes. The system is backed with compliance and document guarantees.
