There is no doubt that the soon-to-be-implemented TILA-RESPA or TRID changes to real estate closing documentation procedures are causing concern throughout the real estate industry. On the face of it the new federal requirements are a good thing. They streamline the closing documentation requirements, eliminate duplicate forms and information, and in general make it easier for consumers to understand their obligations and total costs when obtaining a home loan.
It’s the professionals who make the closings happen who are struggling to accept the changes. Realtors want to know what it means for them and their clients. Lenders want to make sure all forms are filled in properly and are 100% compliant. Settlement agents and real estate closing attorneys want to understand exactly how the forms are changing and how to manage closings when August 1, 2015 arrives.
Are You Outsourcing Client Trust?
If you’re still managing closings with paper and PDF files, then yes, the changes are going to be a struggle. If you’re still outsourcing your closing work because you simply don’t have the manpower or don’t understand the requirements, then you’re losing money. Worse than that, you may be losing client trust.
As an attorney, your clients look to you for guidance and trust you with their most important life decisions. Outsourcing their home closing is a surefire way to make them question your dedication to their needs and even your expertise, especially if the agent you’ve referred them to drops the ball and doesn’t treat their case with the care and attention it deserves.
That doesn’t need to be the case. You can handle closings in-house. You can streamline the process. You can meet the new federal requirements even if you’ve never managed a closing before. You can work with your clients from start to finish. You can keep the fees you’re losing out on when you outsource to a title company. You can do it all with Easysoft’s new TRID software, EasyCDF.
Bring Closings In-House With EasyCDF
Anytime you outsource work, you run the risk of sacrificing quality of work and quality of care for the customer. For professionals who rely on their reputation for business, like real estate attorneys, this can have devastating repercussions as clients begin to take their business elsewhere, to someone who will care about them.
That doesn’t have to be you. EasyCDF is a real estate closing software system that makes it easy to manage the closing process in-house, even if you have zero experience managing closings up until now. In fact, that lack of experience may work in your favor now that the TRID changes are going into effect. You can jump right in with the new requirements and avoid the confusion of switching over from the old way of doing things to the new.
EasyCDF is simply the easiest way to manage real estate closings. This all-in-one real estate closing system allows solo practitioners and small law firms to quickly and easily complete complex work for their clients. A simple, easy-to-follow format prompts you to enter the required data and automatically fills in content and calculations as more data becomes available. The software is already programmed to comply with the latest documentation requirements, print checks, create ledgers, generate HUD statements, and file 1099-S forms.
It really is as easy and filling in the blanks.
If you are tired of sending your real estate business to a title agency and are ready to expand your services to including closings, contact Easysoft at 1-800-905-7638. Try our software risk-free for 30 days. By the time August 1 rolls around, you’ll be a pro and will wonder why you ever outsourced your closing work.