Clearwater, FL – May 15, 2015 – As the August 1, 2015 implementation deadline for the TILA-RESPA Integrated Disclosure (“TRID”) regulation fast approaches, Newbold Advisors has augmented its decade-strong Regulatory and Compliance Support practice with TRID service offerings. The new offerings will assist lenders in supporting the transition to the new rules, finalizing new process implementation, creating contingency plans and resolving any post-implementation issues.
“Newbold Advisors’ TRID service offerings convert mortgage industry-wide regulatory requirements into real measures within the unique operational environment of each Newbold client. Through our project management, operational and regulatory change experiences have we honed the skills essential to quickly arrive at the sustainable solutions that our clients need. We also know implementing sweeping change, such as the changes TRID mandates, relies heavily on timely and accurate work from a multitude of roles, such as Operations, IT and Training. Given the fact that loan applications and closings will need to continue to take place on August 1st, it is safe to assume some lenders will then realize they need a contingency plan at the ready.” says Newbold Advisors Managing Director Kathy Keller.
Newbold’s Regulatory and Compliance Support practice services are organized into pre and post-implementation, offering the following specifically to TRID:
• Process Redesign & Planning
• Business Requirements
• Business & System Testing
• Plan “B” – Business Contingency Planning
TRID Implementation and Beyond
• Independent 3rd Party QA & QC, in-line or post-closing
• Data Analysis and Reporting
• Governance & Ongoing Process Improvement
• Audit Preparation
• Plan “B” Execution