ComplianceEase has updated its ComplianceAnalyzer with TRID Monitor to comply with the 2017 TILA-RESPA Integrated Disclosure (TRID) Rule, the company announced. The new TRID amendments become mandatory on Oct. 1, 2018.
The company said ComplianceAnalyzer with TRID Monitor is the first major compliance solution to be TRID 2.0-ready.
“The industry has had a slow start in getting ready for TRID 2.0 because tech providers have pushed it down in the queue as they prioritized the new Uniform Closing Dataset (UCD) and Home Mortgage Disclosure Act (HMDA) reporting rules, which had hard 2017 year-end deadlines,” ComplianceEase President John Vong said in a release.
“Our update to ComplianceAnalyzer not only provides our clients with the flexibility to adopt the new rule early, but also makes us the first compliance risk management platform to be TRID 2.0-ready,” Vong added.
The company said the TRID 2.0 update already is available to lenders that use the web browser version of ComplianceAnalyzer. In order to use the TRID 2.0 settings in loan origination systems, providers must update their integrations with ComplianceAnalyzer, the company said.