Getting TRID QC Right

Posted by Krista Sabol on Jul 7, 2015 in Quality Control / Audit, Regulations, TRID To make implementation smoother, quality control teams should be involved in the planning process for TRID> Many companies have underestimated the resources needed and the cost to implement the new TILA-RESPA Integrated Disclosures (TRID) rules. Budgets have been thrown out the window, and management has implemented a “get it done, on time, at any cost” approach. As the implementation...
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TRID TIP OF The Week

Posted by Krista Sabol on Feb 17, 2015 in Regulations, RESPA, TILA, TRID Explaining Total Interest Percentage (TIP) Originators and closers will be faced with a new acronym on the Loan Estimate(LE) and Closing Disclosure (CD). They will need to explain the Total Interest Percentage or TIP to the borrower. The TIP is the total amount of interest the borrower will pay over the loan term as a percentage of the loan amount. The TIP is shown along with the APR, Finance...
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Negative Approach On TRID Causes Problems

Posted by Krista Sabol on Feb 4, 2015 in Compliance, IMU Blog, Regulations, TRID Most companies have not had the time to identify the positive impact of the Truth In lending, RESPA Integrated Disclosures (TRID) that must be used with applications beginning 8/1/2015. It seems integrated disclosure education events are focused on raising everyone’s level of panic. I admit there is cause for panic if you are just starting to identify procedural changes but be careful about...
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