The House of Representatives voted Wednesday to pass a bipartisan bill (303-121) that will provide a hold harmless grace period for the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosure Rule, which went into effect October 3.
Read More »DocMagic Begins Testing SmartCLOSE Program for TRID Preparation
Provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, DocMagic, Inc., recently announced it has begun allowing a group of clients to test the features and functionality available within its new Collaborative Closing Portal, SmartCLOSE to prepare for upcoming TILA-RESPA Integrated Disclosure (TRID) regulation.
Read More »Pavaso and IDS Team Up to Create Digital Closing Platform
Real estate technology provider Pavaso and International Document Services, Inc. (IDS), mortgage document preparation provider, have announced their mortgage closing platform collaboration in a recent press release. The firms will combine Pavaso’s Digital Close, an electronic closing platform, and IDS’s document preparation system idsDoc.
Read More »Pavaso Introduces New “Fast Track” Program
In an effort to prepare for August 1 TRID changes, Pavaso recently introduced a new program designed to help companies easily transition to digital closings called “Fast Track.” The program is intended to help lenders and title companies provide a better consumer experience for the upcoming law changes. Pavaso reports that the Digital Close solution takes only two weeks to complete.
Read More »Bill Seeks to Address TRID Deadline Concerns
With the deadline for the TILA-RESPA Integrated Disclosure (TRID) rules going into effect on August 1, many lenders are increasingly concerned about possible penalties should they not be fully compliant by this date. To address these anxieties, Congressmen Steve Pearce (R-New Mexico) and Brad Sherman (D-California), joined forces to introduce a bill (H.R. 2213) that would provide temporary leniency from lawsuits and law enforcement. If passed, it would remain in effect until January 1, 2016.
Read More »As TRID Deadline Nears, DocMagic To Launch Collaborative Closing Platform
As the August 1 deadline for the Truth in Lending/RESPA Integrated Disclosures (TRID) nears, lenders are preparing for the multiple ways their loan operation will be impacted by the new Consumer Financial Protection Bureau requirements.
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