TILA-RESPA Integrated Disclosure Compliance

The challenges of implementing the new TILA-RESPA Integrated Disclosures (TRID) rule go well beyond switching forms for the revised October 3, 2015 effective date. Much work will need to be done for a long time after the actual change date.

These changes are the most massive to either regulation since their inception. Numerous substantive, policy, procedure, operational, and process changes are required, including:

  • Updating policies and procedures in all affected areas
  • Revamping mortgage business processes for every phase of the origination process
  • Implementing procedures for compliance with TRID’s new tolerance rules
  • Reconfiguring existing and/or installing and testing new systems (LOS and DMS)
  • Testing all procedures and disclosures, including timing requirements, both before and after implementation
  • Training staff    
  • Ensuring third parties (such as title companies, closing agents, and attorneys) are compliant with the new rules

   

Treliant’s group of regulatory experts, former bankers, and experienced mortgage professionals are ready to assist with the implementation and testing for all of these changes. We can:

  • Perform gap analyses on existing implementation and testing plans
  • Develop and implement testing scripts for pre- and post- implementation evaluation 
  • Evaluate third parties (e.g., title companies) for readiness with the new rules
  • Develop effective risk management controls for every phase of the mortgage process to ensure continuous monitoring and provide a rigorous control environment to avoid costly regulatory cures and penalties
  • Conduct loan-level reviews to validate TRID compliance and determine remediation resulting from regulatory exceptions
  • Design effective and compliant business processes for the application, underwriting, production, and closing phases of mortgage lending 
  • Prepare and deliver training to all impacted personnel

Regardless of the current state of your implementation process, Treliant’s experts can provide the assistance you need to meet the challenge of the extensive changes to the TILA-RESPA compliance requirements.

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Treliant's TRID Assessment

Let Treliant's experts confirm your TRID compliance. We will provide an assessment of your bank's TRID disclosure timing, as well as the accuracy of your disclosed calculations and fees. To learn more and sign up, Contact Us.



Affiliated with Treliant Risk Advisors, Treliant Solutions is a RegTech software provider that offers TRID Assure, a leading solution for TRID Complaince.