Tag Archives: TILA-RESPA Integrated Disclosure

Torrance, California based DocMagic, Inc. announced that it has completed all required TILA-RESPA Integrated Disclosure rule (TRID) software development and testing so that the company’s clients and LOS vendors can now take advantage of these enhancements and ensure they are prepared for the August 1 TRID deadline.

In an effort to prepare for August 1 TRID changes, Pavaso recently introduced a new program designed to help companies easily transition to digital closings called “Fast Track.” The program is intended to help lenders and title companies provide a better consumer experience for the upcoming law changes. Pavaso reports that the Digital Close solution takes only two weeks to complete.

With the deadline for the TILA-RESPA Integrated Disclosure (TRID) rules going into effect on August 1, many lenders are increasingly concerned about possible penalties should they not be fully compliant by this date. To address these anxieties, Congressmen Steve Pearce (R-New Mexico) and Brad Sherman (D-California), joined forces to introduce a bill (H.R. 2213) that would provide temporary leniency from lawsuits and law enforcement. If passed, it would remain in effect until January 1, 2016.