Closing Disclosure Software for Georgia Attorneys
In today's digital age, there are many software options to choose from when it comes to completing your real estate clients’ closing disclosure. While some attorneys may be hesitant to make the switch to a new program, others are finding that the benefits of using a closing disclosure software for this task outweigh any hesitation they may feel. Closing disclosure software allows for a more efficient and accurate way to complete real estate transactions. If you are a Georgia attorney interested in utilizing this technology in your practice, read on for everything you will need to know.
About the Closing Disclosure, Software and Georgia Attorney Requirements
State Law in Georgia requires attorneys to handle all documentation for residential closings. Whether your firm handles lender closings or represents buyers, it is important that you follow the TILA-RESPA requirements and that you and your staff use the standard 5-page Integrated Closing Disclosure (CD). This makes closing disclosure form software not only an excellent time-saving tool, but also a way for you and the rest of your practice to remain in compliance with the TRID requirements.
About the TILA-RESPA Integrated Disclosure (TRID) Rule
The CFPB was directed, under §§ 1098 and 1100A of the Dodd-Frank Act (codified at 12 U.S.C. 2063(a) and 15 U.S.C. 1604(b)), to publish forms and rules that combine certain disclosures which consumers must receive when they are applying for and closing on a mortgage loan under TILA and RESPA.
The CFPB then also amended Regulation X of RESPA and Regulation Z of TILA, to establish new disclosure requirements and forms which must be used for most closed-end consumer credit transactions that are secured by real property. This final rule also provides guidance regarding compliance with these new requirements.
Not knowing how to fill out a closing disclosure form that is in compliance with these requirements can put your practice at risk. Luckily, disclosure form software alleviates the pressure of remaining in compliance.
Understanding the creation of the Closing Disclosure
Under Federal law, lenders were required to provide three different disclosure forms to a consumer applying for a mortgage. The law also required lenders to provide the consumer with two separate forms shortly before closing on the loan. Because these forms were designed by two different Federal agencies, under two Federal statutes, the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act of 1974 (RESPA), there was duplication and inconsistent information, leading to confusion by consumers.
The Dodd-Frank Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act was established and mandates that existing closing forms be integrated into one document that is easy to understand for consumers. These TILA-RESPA rules exist and bring great impact on lenders for compliance, however, it is important for real estate attorneys and their staff to understand the new rules and requirements and to then communicate these compliance factors to their clients.
How Specialized Legal Software Helps Reduce Errors and Ensures Compliance
One of the central and most challenging aspects of closings is the completion of the Closing Disclosure (CD) and all the associated and repetitive data entry.
Today, more attorneys, paralegals and legal staff rely on specialized, auto-calculating software to easily respond to inevitable changes in the closing process. Once the closing process has started, whether it is bank or lender initiated or if it is directed from the client, all essential data must be entered and organized. Preferably, the input of this data should be directly onto the CD for processing. More real estate attorneys, general practitioners, solo and small firm attorneys, and their staff are turning to Easysoft Legal Real Estate Software to handle complex calculations, repetitive data entry needs, and even e-signing of important documents, all in an effort to be compliant, efficient, and accurate.
Closing disclosure form software keeps your entire practice consistent and credible with the accurate completion of the Closing Disclosure. The time saved on tedious data entry will free your staff up to work on other profit-driving areas of your practice, like client relationships and other tasks.
Easysoft’s History
Easysoft - Real Estate Software, was created by a programmer in 1986 who was approached by a real estate attorney and colleague, who was looking for a ‘better way’ to manage the ongoing need to calculate and recalculate numbers during the closing process. From that, Easysoft was created and has continued to be the proven, reliable, and steady source for real estate attorneys and their staff.
Disclosure Form Software
While the CFPB designed the form to provide disclosures that would be helpful to consumers in understanding all the costs of their mortgage, Easysoft is designed to be fully TRID compliant and is created exclusively for attorneys to help quickly, accurately, and easily complete the CD and other aspects of the closing.
About Easysoft Software and the Automated Closing Disclosure Form (CDF)
The built-in list of features found inside of Easysoft real estate software helps simplify the workflow for attorneys and their staff, keeping all parts of the closing process unified, compliant, and error-free. This includes the assurance that the Closing Disclosure form is sent on time for consumers to receive it in the required timeline.
Along with the important and mandatory compliant and easy-to-complete Closing Disclosure form (CD), Easysoft’s Closing Disclosure Form Software also features:
-The ability to export to the ledger
-Paperless 1099-S filing
With automatic calculations and the ability to export to your ledger, you'll be able to complete your Closing Disclosure form quickly and easily. And with e-signatures, you'll be able to sign your form electronically in minutes — cutting down the time in between filling out the form and getting it into the hands of your clients.
Why choose Easysoft Closing Disclosure Software?
As technology changes and evolves, so too must the ways in which we use it to conduct our business. For real estate attorneys, it is important to stay up-to-date on the latest methods for using technology in transactions.
Attorneys and paralegals nationwide say that Easysoft is THE best, auto-calculating software they’ve ever used. With free tech support from our U.S. based support team, no installation or set-up required, and no training needed, you and your staff can be up and running in minutes.
Access your files anywhere you have an internet connection – even on your phone!
Easysoft is the best product on the market for attorneys and their staff. We’ve been in business since 1986, and we know what it takes to make your work easier. Our software is designed to help you fill out closing disclosure forms quickly and accurately, so you can focus on more important things. If you’re looking for a reliable, easy-to-use solution, call us today. We would be happy to answer any of your questions or set up a demo so you can see how our disclosure form software can benefit your practice.
Schedule your free demo today, call 1-800-905-7638 extension 1, or email sales@easysoft-usa.com.
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