TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/501849
Th e M Rep o RT | 23 Feature Following the Consumer Financial Protection Bureau's (CFPB) announcement that its August 1 deadline will stand, lenders and mortgage industry service providers are now scrambling to prepare for the day the TILA-RESPA Integrated Disclosure rule (TRID) goes into effect. But it's not all headache and hassle with TRID. In fact, the new rule may actually provide a welcome opportunity for many lenders, giving them the chance to better serve digitally savvy homebuyers, as well as simplify what has historically been an overcomplicated process. The key to seeing success under TRID, however, will lie in lenders' forethought and preparation. What problems could occur? How can those be prevented? Kevin Wall and John Hollenbeck, executives at First American, weigh in. Title Professionals, Lenders Must Prepare For Industry Changes TRID may require additional work and resources, but it should offer a much-needed opportunity for improvement. By Kevin Wall and John Hollenbeck * * * * * * * * * * *