Reynolds acquires mortgage documents firm

Kettering-based Reynolds and Reynolds is expanding into the mortgage banking industry with the acquisition of IDS, a mortgage documents and compliance services firm, company officials announced. Terms of the deal were not disclosed.

IDS, or International Document Services, will retain its name and operate as a stand-alone division of Reynolds and Reynolds, officials said. Founded in 1986, the company is headquartered in Salt Lake City and has about 65 employees.

“IDS has developed a strong reputation and product line in serving the mortgage banking industry and their expertise is well recognized. We’re pleased to be joining forces with them, adding our expertise and technologies to help serve this market,” said Robert Burnett, Reynolds’ senior vice president of business development, in a statement.

Reynolds has rebuilt the software of its “docuPad” interactive touch-screen device, originally developed for use by automobile retailers with their customers, specifically for use by mortgage lenders, officials said.

Reynolds, a privately held company that develops and sells information management systems for automobile dealers, has more than 4,300 workers worldwide, including about 1,300 at its Kettering headquarters and 400 at its documents production division in Celina, Ohio. The company also has major operations in Houston and College Station, Texas.

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