Online PR News – 02-October-2015 – NORTH BRUNSWICK, NJ – Easysoft Legal Software has released an update to their Easy HUD real estate closing software ahead of the looming October 3, 2015 TRID (TILA-RESPA Integrated Disclosures) implementation date. The update, HUD 5.1.6 is available for immediate download on the Easysoft Legal Software website at easysoft-usa.com and is free to current subscribers.
The update comes at a time when the real estate industry is in an uproar over the TRID changes. That uproar has caused some facts to be overlooked. Namely, that the TRID rules do not apply to all types of real estate transactions. There is a misconception among settlement agents that software like Easy HUD and the old HUD forms, like the HUD-1 and HUD-1A settlement statements, will no longer be needed. This is untrue. Settlement attorneys will still need to use the old forms in some types of transactions, specifically:
- Home equity revolving lines of credit
- Reverse mortgages
- Mortgages secured by a mobile home
- No-interest second mortgages
TRID is getting all the press, but we haven't forgotten that there are situations where the new rules won't apply. Settlement agents will still need software to help them process these transactions and that is where Easy HUD comes in. Easysoft Legal Software will continue to offer Easy HUD and will continue to release updates to the software so that subscribers have all the tools they need to process every type of real estate transaction," explained Chris Stock, CEO of Easysoft Legal Software (easysoft-usa.com).