International Document Services, Inc. (IDS) has expanded its integration with LendingQB, adding a feature that allows the preview of mortgage documents before they are submitted to fulfillment, the companies announced.
The new feature enables lenders to spot and correct errors before creation of the final document.
“When it comes to executing compliant, error-free mortgage transactions, the stakes are higher than ever. 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,” IDS Vice President Mark Mackey said in a release.
“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document in real time, eliminating the need to draw multiple docs or doc packages and reducing the probability of an outdated or incorrect document making it to the final document package,” Mackey added.
The documents are displayed as a PDF with a “SAMPLE” watermark to ensure that the preview document cannot be mistaken for the final document.
“Accurate generation of mortgage documents is really the primary goal of any [loan origination software],” LendingQB President Tim Nguyen said. “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.”