On Oct. 4, 2015, the mortgage industry will enter into the next phase of its existence: post-TRID.
The industry is actively working to solve the immediate problems and challenges posed by the new Loan Estimate and Closing Disclosure forms However, the immediate document production issues only cover about 20 percent of the total changes required by TRID. The other 80 percent is composed of more long-ranging alterations to the loan origination process. These aspects, while arguably the most important components of the ruling, have yet to be addressed.
In this paper, we will explore the other 80 percent of challenges you need to solve to comply with this ruling. There is a way to solve these issues, avoid cost overruns and reduce lengthy and expensive closings, while putting the consumer first and providing functionality and consistency for all other stakeholders.
Date: September 2015
Format: White Paper