To comply with the TILA-RESPA Integrated Disclosure (TRID) rule, lenders and settlement agents need to maintain communication and exchange data throughout the closing process. ClosingXchange™ flags fee changes on each transaction and analyzes the impact of those changes based on changed circumstances. The solution works with ComplianceAnalyzer® with TRID Monitor™, the online compliance management platform that fully supports loans originated under the TRID rule, for real-time integrated loan level auditing including pre-close and post-consummation review.

Correct Compliance Defects

ClosingXchange helps lenders and settlement agents produce loans free of closing defects by flagging settlement changes to the transaction and analyzing the impact of changes on compliance at the loan-level.

Leverage Partners

Lenders and settlement agents can now work together as true partners using real-time communication via ClosingXchange's integrated file delivery system. Audit logs retain all conversations, documents, status changes, approvals, changes of circumstance, and delivery timing within a single objective record accessed via a web browser.

Built for TRID

ComplianceAnalyzer with TRID Monitor provides flexible TRID compliance for different origination channels and workflows, offering the choice to audit loan terms at each point in the loan lifecycle or implement complete monitoring of all fees and tolerances for every Loan Estimate and Closing Disclosure. Each audit report serves as an independent third-party compliance review, providing detailed evidence of TRID compliance.

Comprehensive fee and disclosure monitoring includes:

  Loan Estimate (LE) and Closing Disclosure (CD) delivery timing sequencing, fee names and tolerance
  Changed circumstances and reasons for redisclosures
  Post-consummation cure analysis

For more information on ClosingXchange, contact your Account Manager at 1.866.212.EASE (3273) or send us an e-mail at Contact CE.


 

Resources

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