CC Pace, a mortgage process and technology consulting firm has announced the launch of their “TRID Rapid Review” program. Created to address the challenges the industry is experiencing with meeting TRID regulations, this program is designed to lessen the burden of compliance and give immediate relief to lenders.
CC Pace recently conducted an independent study of lenders nationwide and found that 2 out of 3 lenders are experiencing significant levels of pain related to their TRID implementations.
These challenges are having a dramatic impact throughout the industry, driving costs to produce up and profitability down. In speaking with lenders, CC Pace found that a majority viewed TRID as a technology issue, often failing to fully prepare for the operational changes that were needed. CC Pace’s “TRID Rapid Review” is designed to help solve for these challenges with an action- oriented combination of operational and technology assessment and swift implementation of corrective fixes to client-specific pain points.
“The ripple effects of inadequate preparation and partial implementation for TRID are felt in all aspects of the mortgage business from the customer experience to productivity and bottom line profitability,” said Craig Hughes, Managing Director of Financial Services Consulting for CC Pace. “Our approach allows lenders to remain focused on moving live production through the existing pipeline, while having an independent mortgage process expert help design and implement rapid response solutions for measurable operational improvement. As easy as that may sound, our sophisticated approach delivers both short and long-term solutions.”
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 email@example.com.