What You Need To Know – TRID

Learn Why Lenders Nationwide Have Turned to ClosingCorp.

TRID is an effort on the part of the Consumer Financial Protection Bureau (CFPB) to simplify the residential loan disclosure process to provide more transparency to consumers, improve understanding, and reduce the possibility of surprises at the closing table. TRID compliance can often involve very complex, data-centric minutiae. While it includes new disclosures, rules and workflow requirements – it also includes new responsibilities for lenders, title and settlement providers, real estate professionals and many others. These responsibilities bring new liability and enforcement risks if not properly understood and managed.

Manual practices are being replaced by automated workflow – leading to strategic advantages. Tables and templates are being 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. With ClosingCorp solutions, you can be better positioned to adapt not only regulatory change, but also the shifts inherent in the mortgage business

 

INCREASE YOUR PRODUCTIVITY AND SHOW PROOF OF COMPLIANCE WITH BEST-IN-CLASS CLOSING COSTS AND EASY-TO-USE TECHNOLOGY.

  • Change in circumstance: Track with the ability to use for internal auditing.
  • Simultaneous Issuance Support: ClosingCorp will present the non-concurrent lender and corresponding owner policy premium amounts where both policies apply nationwide.
  • Settlement Service Provider List (SSPL): Per the CFPB’s requirement, ClosingCorp will deliver a list of providers lenders prefer to use for the LE/GFE.
  • ClosingCorp Guarantee: Meets the demands of zero variance for Affiliates and Non-Shoppable services like AMC

USE THE “BEST POSSIBLE METHOD”

    Unlike other providers that provide archaic table and self-managed template systems, ClosingCorp provides fully-managed, vendor-verified rates from thousands of unique real estate service providers nationwide. At a time when consumer confidence is paramount, you can’t afford to settle for anything less. Contact us today to learn more.