To follow up on an earlier story, PROGRESS in Lending can now report that testing is done and DocMagic, has completed all required TILA-RESPA Integrated Disclosure rule (TRID) software development and testing, and the new TRID enhancements have been officially released into DocMagic’s production environment.
The new TRID offering is available to all DocMagic clients and all LOS partners for in-depth testing. DocMagic wants each of its clients and partners to become acquainted with the TRID enhancements and functionality that was recently incorporated into its suite of web-based document production systems.
“We are giving our clients and partners the ability to be well-prepared for TRID far in advance of the Aug. 1 deadline,” said Dominic Iannitti, president and CEO of DocMagic. “After extensive internal testing, re-testing, and BETA testing by a select group of lenders, we perfected the changes required for TRID compliance and are now ready to open the flood gates. We are confident that our systems are now fully compliant with TRID, and we are excited to have our clients and LOS partners access and get used to the new TRID screens and functionality.”
DocMagic provides a step-by-step TRID testing guide to all lenders and its support team has already successfully fielded hundreds of questions since the release last month. The company reports that lender testing with DocMagic has been going as planned and no software issues have been unearthed.
DocMagic says that it has already started client training sessions on the new loan estimate and closing disclosures, has made available detailed training videos, and is presenting regular educational webinars on TRID.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.