The biggest changes to TILA and RESPA documentation in decades take effect this August. That’s when the new Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rules take effect. These TRID compliance rules were set as part of the Dodd-Frank Act and are intended to simplify disclosures to real property consumers, helping them to better understand their mortgage transaction.
Worry-Free Compliance From Easysoft
While this is great for consumers, it’s thrown the mortgage industry into a panic as lenders, realtors, brokers, and real estate attorneys scramble to develop new ways of facilitating property sales in compliance with the new requirements. One of the surest and simplest ways to ensure complete compliance on August 1 is to partner with Easysoft.
Easysoft is way ahead of the competition and has been putting the finishing touches on a new real estate closing software program over the course of the last year. The result is our new EasyCDF software, which will be available to consumers in June of this year. EasyCDF will be an upgrade from the current Easy HUD closing software to assure complete compliance with TRID. It will be available to new and current users in both desktop and cloud versions.
The Time To Plan For Compliance Is Now
If you’re waiting to hear back from your current vendor, haven’t heard a peep about TRID from your vendor, or have been managing the closing process manually, you need to act now to make sure your office will be compliant come August. The strict penalties for even minor TRID defects means you simply cannot afford NOT to be in compliance from Day One.
Easysoft Has You Covered
At Easysoft, we’ve already done all the hard work. EasyCDF is the perfect solution for automating your entire real estate closing process, particularly in light of the upcoming TRID changes. All of the closing documents you need are included in the software, including the new Closing Disclosure (CD) form. You can even add your own custom forms if necessary.
Another big change that is coming in August has to do with how quickly consumers are provided with their disclosure forms. Electronic forms and filing make it possible to make changes quickly and submit the documents to borrowers and lenders within the allotted time. You’ll be able to connect and communicate changes with each party collectively or individually, and track those communications in your EasyCDF software for future reference.
Easysoft software will streamline your transactions, ensure compliance with all of the latest TILA, RESPA, TRID, and CFPB rules, reduce real estate closing time by up to 80%, and improve transaction accuracy. Even better, if you order your copy of EasyCDF before July 1 you’ll enjoy special early order pricing.
Easysoft and EasyCDF have everything you need to meet the challenges of TRID head-on, with complete success. Contact Easysoft today at 1-800-905-7638 to learn more about our EasyCDF software.