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.”
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