First Community Mortgage Inc., a full-service retail, wholesale and correspondent lender based in Murfreesboro, Tenn., has enlisted Simplifile and its collaboration services to aid the company and its settlement agents in meeting the CFPB’s TILA-RESPA Integrated Disclosures (TRID) rule timelines and requirements.
“Simplifile will help First Community Mortgage and our settlement agent partners quickly share fees and documents to meet Closing Disclosure (CD) and final documents timelines and requirements,” First Community Mortgage, Mortgage Closing Manager Kele Cuddy said in a release
Simplifile’s suite of online services including collaboration, eRecording, and post closing, allows lenders and settlement agents nationwide to securely share, validate, audit, track, record and collaborate on loan documents, data and fees to ensure compliance.
“Thus far my experience has been, in one word, ‘simple’,” Cuddy said. “The Simplifile team is very knowledgeable, responsive, and able to assist with every step to ensure we are setup and running smoothly.”
Simplifile also enables lenders to share changes, updates, deficiencies and statuses with their settlement agents in one place, facilitating a fully auditable, more transparent process from loan application to recording to delivery of the final title policy.
“We’re thrilled to partner with First Community Mortgage and provide them with the reliable tools and services needed to successfully collaborate with their network of settlement agents and help them stay informed not only during, but after the close of their loans,” Simplifile President Paul Clifford said.
Simplifile Collaboration and Post Closing are both free services to settlement agents.