Wolters Kluwer Financial Services, offering risk management, compliance, finance and audit solutions, has launched a new online resource center designed to better inform lenders and help them prepare for the broad impact of the Truth in Lending Act and Real Estate Settlement Procedures Act requirements, which go into effect on Aug. 1, 2015.
The TILA-RESPA Resource Center will help lenders become more informed about the regulation and stay up-to-date with changes as they occur. Educational videos and links to relevant conversations taking place in the industry provide useful tools for further understanding of TILA-RESPA requirements and the analysis of how they are impacting businesses. The Resource Center also provides access to solutions and compliance services available to help lenders meet the wide array of challenges presented by the TILA-RESPA requirements.
‘The introduction of this new resource center answers a call by our customers to provide them with more information and clarity around these regulations,’ says Art Tyszka, general manager of Residential Lending at Wolters Kluwer Financial Services, in a press release. ‘Our compliance experts have invested thousands of hours in deep analysis of the rules, which puts us in a unique position to contribute meaningful guidance and help alleviate some of the burden faced in preparing for these changes.’
‘A key to understanding the real scope and complexity of these new rules is to have access to information,’ adds Kris Stewart, senior manager of professional services at Wolters Kluwer Financial Services. ‘Lenders need a trusted source to turn to and the tools available in our resource center will help them understand nuances of the requirements and determine the impacts to their business. Perhaps the most meaningful guidance these resources can provide is to help clients understand that even though the implementation date may seem far away, it is critical to take action now.’
In coordination with the launch of the TILA-RESPA Resource Center, the company has also made available Project Management for Compliance Officers: TILA-RESPA Implementation Planning, which is the third in a series of instructional videos designed to help compliance professionals interpret, understand, and operationalize the nuances of the TILA-RESPA changes.