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RESPA, TRID – What’s Next in 2016?

Thu, Dec 03, 2015 @ 02:00 PM / by Joy Dowling

MORTGAGEFLEX REMAINS SUPPORTIVE BEYOND TRID    

TRID revisions went into effect two months ago, and the world didn’t end. However, the anticipation was nothing short of maddening. For MortgageFlex customers, though, things were smoother thanks to their ongoing support to make the TRID integration easier. purple_digital

Facing Strict Regulations

The mortgage industry has been facing increasingly strict regulations for nearly a decade now, and they don’t show any sign of ceasing. While those regulations are a boon to consumers, they're an added layer of work for lenders.

“TRID imposed some significant changes to the origination process.  From estimating to closing, there are a new set of guidelines to follow and we feel it is our responsibility to not only provide thorough and highly automated functionality but to remain engaged and "hands-on" with our customers as they deploy their own process changes," said Craig Bechtle, chief operating officer, MortgageFlex Systems.

To do so, MortgageFlex took a number of positive steps to help clients remain compliant throughout the changes. Those steps included customer focus groups around the TRID changes to ensure everyone stayed informed. For individual lender’s questions, MortgageFlex provided one-on-one support via a dedicated hotline with their compliance partner, the Lenders Compliance Group.

MortgageFlex was also one of the only solutions to host monthly roundtables around the changes as well as public webinars.

The MortgageFlex Difference

Lenders need space to focus on their own goals, not just federal compliance regulations and the constantly growing list of paperwork that is so often required these days. MortgageFlex works to make that space available, with mortgage software solutions and services few others in the industry are offering.

"Building a better process can be a long road for our customers, so we're here to make the path easier to follow, with a lending system that ensures compliance, security, and flexibility," concluded Bechtle.

To learn more about how MortgageFlex can help your organization, click here.

Topics: LOS

Joy Dowling

Written by Joy Dowling

MortgageFlex Communications Director