Over the first half of 2012, IDS experienced a 52 percent increase in the number of documents ordered over the same period in 2011. In addition, IDS has had four consecutive record-breaking months in 2012 and increased its client roster by 33 percent.
IDS also achieved a record in June for the total number of closing documents and initial disclosures ordered within the idsDoc system. As compared to June 2011, doc orders increased by 46 percent and initial disclosure orders by 85 percent.
Early data from third quarter 2012 indicates that IDS is on track to achieve similar results in the second half of 2012. For example, IDS saw a 16.2 percent increase of mortgage documents from July toAugust and a 99.18 percent increase as compared with volume achieved duringAugust 2011.
According to IDS Executive Vice President Mark Mackey, historically low interest rates and ever-changing regulations have contributed significantly to its new client growth and increased mortgage documents processing volume.
“With all the new proposed regulations from the Consumer Financial Protect Bureau(CFPB), particularly in the area of disclosures, the need for compliant documents is more important than ever,” Mackey explained. “Lenders want, and are actively seeking, docs vendors that can ensure compliance down to the last period, and we’re happy to accommodate them.”
“We are thrilled to see such fantastic growth in the first half of 2012. The numbers we are seeing this year are by far the best we’ve seen in the past few years,” he added. “Accordingly, we’ve ramped up our customer support staff to ensure that we’re able to handle the increased volume, per usual, without a hitch.”
source: thenichereport.com
