San Diego-based OneTrust Home Loans has elected to use Simplifile as its online service provider in order to comply with the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosure (TRID) rules, which will go into effect Oct. 3. The company successfully submitted its first loan through Simplifile to its settlement agents last week.
‘One of the major reasons we chose Simplifile as our partner was their established network of settlement agents who are already using their services every day,’ says Shane Erksine, president of OneTrust Home Loans.
‘We're confident in their proven ability to provide an easy-to-use service with an intuitive interface that can successfully bridge the gap between multiple parties in the mortgage and real estate transaction,’ he says.
OneTrust says that Simplifile's collaboration, e-recording and post-closing services help users to securely record, share, validate, audit and track loan documents, data and fees, facilitating communication between lenders and their settlement agents.