ISGN’s Settlement Services And Vendor Management Platform Now TRID-Ready

Posted by Patrick Barnard on June 01, 2015 No Comments
Categories : Residential Mortgage

Mortgage technology provider ISGN Corp. reports that it has updated its Gators settlement services and vendor management platform with the features and capabilities necessary to help lenders comply with the Consumer Financial Protections Bureau's (CFPB) new TILA-RESPA Integrated Disclosure (TRID) rules taking effect Aug 1.

The configurable Web-based title and closing solution – which streamlines the fulfillment and processing of orders – will now default to the correct closing disclosure form based upon the loan purpose. Gators users will still have the option to produce the HUD Settlement Statement and Good Faith Estimate for those few loan products that do not require the new closing disclosure form.

What's more, the Gators platform will soon support version 3.3 of the Mortgage Industry Standards Maintenance Organization (MISMO) Reference Model.

‘Our team of compliance experts carefully examined the CFPB's nearly 2,000-page document to develop the necessary enhancements for Gators to help lenders and servicers seamlessly comply with the new regulations by the Aug. 1 deadline,’ says Don Gaspar, chief technology officer for ISGN, in a release. ‘While the next couple of months will certainly be challenging, we are embarking on a journey towards complete mortgage technology transformation, and these new system upgrades are what the industry needs to move towards greater efficiency and profitability.’

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