Turning To Technology To Handle TRID

First Community Mortgage Inc., a full-service retail, wholesale, and correspondent lender based in Murfreesboro, Tenn., has enlisted Simplifile and its collaboration services to aid them and their settlement agents in meeting the CFPB’s TILA-RESPA Integrated Disclosures (TRID) rule timelines and requirements.

“Simplifile offered a great price and great product; what more can you ask for,” said Mortgage Closing Manager Kele Cuddy at First Community Mortgage. “Simplifile will help First Community Mortgage and our settlement agent partners quickly share fees and documents to meet Closing Disclosure (CD) and final documents timelines and requirements.”

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Simplifile’s suite of online services including Collaboration, E-recording, and Post Closing, allow lenders and settlement agents nationwide to securely share, validate, audit, track, record, and collaborate on loan documents, data, and fees to ensure compliance.

“Thus far my experience has been, in one word, ‘simple’,” Cuddy said. “The Simplifile team is very knowledgeable, responsive, and able to assist with every step to ensure we are setup and running smoothly.”

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Simplifile also enables lenders to share changes, updates, deficiencies, and statuses with their settlement agents in one place, facilitating a fully auditable, more transparent process from loan application to recording to delivery of the final title policy.

“We’re thrilled to partner with First Community Mortgage and provide them with the reliable tools and services needed to successfully collaborate with their network of settlement agents and help them stay informed not only during, but after the close of their loans,” said Paul Clifford, president of Simplifile.

Since 2000, Simplifile has grown the nation’s largest e-recording network. Over 17,000 settlement companies, ranging from small independent agents and attorneys to large title offices, already use Simplifile to e-record documents in more than 1,330 counties nationwide. With the addition of its Collaboration and Post Closing services, Simplifile has revolutionized the online real estate transaction.

About The Author

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Tony Garritano
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 tony@progressinlending.com.