The acquisition comes amid the dual challenge of increased pressure from regulators and the changed expectations from consumers in the mortgage industry.
IDS will continue to be operated under its name and brand as a stand-alone division of Reynolds and Reynolds.
Founded in 1986, Salt Lake City-based IDS employs 65 people and offers a wide range of services including electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms.
The IDS flagship doc prep solution, idsDoc, is known for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes.
IDS vice president and general manager Mark Mackey said: "We look forward to continuing to serve our IDS customers with the expertise and service they’ve come to expect from us.
"And now we can do so with the strengths and advantages of a much larger company behind our brand – a company with deep expertise in documents and compliance, and in the technology that will help lenders respond to the increasing pressures from regulators and consumers."
Reynolds and Reynolds provides automobile dealership software, documents, and services to help dealerships deliver better business results and transform the customer experience.
The company developed a technology in docuPAD, a large, flat, interactive touch screen, that helps dealerships meet regulatory and compliance requirements, while also streamlining finance and insurance document processing and improving the consumer experience of purchasing a vehicle.
The docuPAD e-documents technology is now available to mortgage lenders.
Image: Reynolds’ docuPAD is developed for use by automobile retailers with their customers. Photo: courtesy of PRNewswire / Reynolds and Reynolds.
