Docutech reports that several of its mortgage lender clients have successfully and smoothly closed loans following implementation of the Consumer Financial Protection Bureau's (CFPB) TILA-RESPA Integrated Disclosure (TRID) rules, which took effect on Oct. 3.
Among them is Charlotte, N.C.-based Movement Mortgage, which closed its first TRID loans without any problems last week. The company, which uses Docutech's ConformX e-document and workflow solution, cited the ease of generating and delivering the disclosures and closing packages.
‘Thanks to our great partnership with these innovative industry leaders, we have delivered what is possibly the first loan under the new TRID guidelines,’ says Casey Crawford, CEO of Movement Mortgage, in a release. ‘We are confident that these new regulations will only encourage others in the industry to do what we at Movement Mortgage have always advised our borrowers to do – 'Know Before You Owe' by having a loan fully underwritten up front before the consumer begins shopping for a home.’
Crawford also cited the strength of the integration between Docutech and its Reno, Nev.-based loan origination system provider, PCLender, as a key factor in complying with TRID.