Increase your productivity and show proof of compliance with best-in-class closing costs and easy-to-use technologies.
Whether you’re a retail, correspondent, or wholesale mortgage lender, chances are you’re working harder than ever to earn the trust of borrowers and close more loans – all while maintaining compliance.
And with TRID here, not complying is not an option. Failure to conform can result in huge monetary penalties for your company, representation and warranty issues, and buyback scenarios. When it is not completed within required time guidelines, it can trigger redisclosures and have operational impacts with potentially devastating impacts on the consumer. Recent legislation even allows for the filing of class-action civil lawsuits.
TRID is forcing change. Manual practices are being replaced by automated workflow – leading to strategic advantages. Tables and templates are replaced with real-time closing costs – resulting in accuracy you can depend on. Repeatable and reproducible workflows – are leading to consistency and proof of compliance. The lenders, products, and processes that remain standing after this regulatory storm subsides will be better positioned to adapt not only regulatory change, but also the shifts inherent in the mortgage business.
Learn more about services ClosingCorp provides to mortgage lenders and how they are TRID ready.