IDS Releases Mortgage Initial Disclosures Survey
SALT LAKE CITY, Utah, Nov. 24, 2011 (SEND2PRESS NEWSWIRE) — International Document Services (IDS), a mortgage document preparation vendor, is conducting a survey seeking information on its customers’ use of initial disclosures.
IDS is committed to having its initial disclosures service completely refined timely for Consumer Financial Protection Bureau (CFPB) revisions to the Good Faith Estimate (GFE). Throughout 2011, the CFPB gathered feedback on its proposed changes to the GFE, and has announced its intent to revise the Truth in Lending (TIL) and HUD-1 disclosures in 2012.
“We predict that mortgage docs, initial disclosures in particular, will be the buzz in 2012,” said IDS vice president Mark Mackey. “Through this survey, we’re seeking feedback from IDS customers on what is and is not working for them with regard to initial disclosures, whether they use IDS for both initial disclosures and closing docs or just for one.”
“RESPA has been among the top compliance issues in the past two years. Grappling with an entirely re-designed set of disclosures will create even more challenges for lenders already burdened with regulations, ” he added. “If we can do some regulatory legwork or adjust our idsDoc system to make our customers’ lives easier, then it will be effort well spent.”
The survey will be available Dec. 1 at https://www.surveymonkey.com/s/ids_disclosures_pr .
About IDS Inc.:
IDS (www.idsdoc.com) is a nationwide provider of mortgage documents and compliance. IDS services include closing documents, reverse documents, initial disclosures and fulfillment. The IDS solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs. IDS backs its system with unsurpassed customer service, cutting-edge technology, compliance and document guarantees and a solid compliance team. Lenders looking to move forward when it comes to doc prep can visit the IDS website at www.idsdoc.com or call 800.554.1872.
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