Mortgage document preparation vendor International Document Services, Inc. (IDS), has augmented its flagship doc prep platform idsDoc to include full eClosing capabilities through a new service called ClickToClose, the company announced.
Using ClickToClose, IDS clients now can execute loans digitally as far as investor requirements and jurisdictional regulations allow. As part of this development, IDS is now providing the MISMO V3 Tamper Evident SMART Doc PDF eNote standard.
“With major investors like Wells Fargo now accepting eNotes and the growing adoption of electronic and remote online notarization, the barriers to full eMortgage adoption are falling rapidly,” IDS Vice President and General Manager Mark Mackey said in a press release. “IDS’s position has always been to be responsive to market changes and to be ready to deliver the solutions our clients need when the timing is right for them.”
ClickToClose is designed to extend the experience idsDoc users and their clients experience with idsDoc’s initial disclosure eSign functionality, ensuring a consistent experience throughout the transaction, according to the release. It is intended to allow lenders to electronically deliver the closing package prior to closing, allowing borrowers to familiarize themselves with the documents before reaching the closing table.
On the day of closing, the lender can enable the final set of documents and then eSign their portion of the closing package. After that, ClickToClose sends the documents to the borrower to allow them to eSign any documents that do not require notarization. At the closing ceremony, transaction participants log on to the ClickToClose portal to finalize and complete the transaction.
“IDS customers are already intimately familiar with our eSign Room so it was important to us to ensure that the eSign Room user experience carried over to ClickToClose to make the transition as easy as possible,” IDS National Sales and Marketing Director Matthew Mackey said. “There is no question that the mortgage transaction of the future is entirely digital, and ClickToClose represents an important next step in the digital evolution of both IDS and our clients.”