1. No category

Make Compliance Relaxing
Sit back, relax.
The webinar will begin
at the top of the hour.
While you are waiting, you may download the presentation outline at:
QuestSoft.com/TRID-Webinar
Please stand by.
The webinar will begin in a few minutes.
Your phones have been muted. If you’re using the
speakers on your PC you don’t need to call in.
=
While you are waiting, you may download the presentation outline at:
QuestSoft.com/TRID-Webinar
YOU MAY ALSO
“like” us on
or
“follow” us on
facebook.com/QuestSoft twitter.com/QuestSoft
TO DOWNLOAD THE PRESENTATION
Racing To The Deadline
Ensuring TRID Compliance
Thank you for attending.
The webinar has begun.
Housekeeping
Asking Questions
Downloading Materials
Taming TILA-RESPA Through
Automated Compliance
Technology
www.QuestSoft.com/TRID-Webinar
Technical Difficulties
Go To Meeting Support – 888-259-8414
Disclaimer
facebook.com/questsoft
twitter.com/questsoft
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Part One of Two Part Series
Today’s Topic – Ensuring TRID Compliance
Coming in May – Eliminating SSPL Fee Cures
Tolerance levels for fees under TRID are tightening.
You can’t afford more borrower refunds out of your pockets.
The average cure TODAY is $75 per borrower and it will skyrocket under TRID to perhaps
$150-200 unless you use Compliance EAGLE’s Guaranteed Closing Cost System with over
20,000 service providers nationwide. Pay for your entire compliance process with the savings
from this feature.
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Today’s Presenters
Angela Cheek
Vice President and Counsel, Product Compliance
Mavent, Inc.
Michael Black
Compliance Product Manager
Mavent, Inc.
Jennifer Mathwig
Compliance EAGLE Product Manager
QuestSoft Corporation
Leonard Ryan
President
QuestSoft Corporation
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Agenda
•
Documenting Evidence of Compliance
•
Disclosure Timing and Delivery
•
Good Faith Estimate of Fees (Fee Variance/Tolerance Thresholds)
>
>
>
>
•
Changed Circumstances
Timing
Delivery
Thresholds
Loan Estimate and Closing Disclosures
>
>
>
Calculation vs. Display
Rounding
New Calculations
•
How Mavent and QuestSoft are jointly preparing for this change
•
Live Presentation of Compliance EAGLE TRID Testing Platform
•
Questions
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
What You Need to Know About The
TILA-RESPA Integrated Disclosures
Safe Harbor
This presentation may contain forward-looking statements under the safe harbor
provisions under The Private Securities Litigation Reform Act of 1995. These forwardlooking statements may include the company’s ability and timing to enhance the
features and functionality of Mavent® software and services and of new product
launches. Additional risks and uncertainties related to the company’s business are
discussed in the Ellie Mae’s Securities and Exchange Commission filings, including but
not limited to the company’s most recent Annual Report on Form 10-K and Quarterly
Report on Form 10-Q. Unless otherwise required by applicable laws, Ellie Mae
undertakes no obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
The content provided in this slide presentation is intended for Mavent® webinar
attendees and their staff only and should not be distributed outside your company. The
content is intended for general information purposes only. It should not be construed
as legal advice or opinion on any specific facts or circumstances. You are advised to
consult your own compliance staff or attorney regarding your specific residential
mortgage lending questions or situation to ensure your compliance with applicable
laws and regulations.
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
RESPA-TILA Applicability & Compliance
•
Applies to most closed-end consumer credit transactions secured by real
property for applications received on or after 8/1/2015
•
Excludes:
>
>
>
>
>
Open-end credit (i.e., HELOCs)
Reverse mortgages
Loans secured by a dwelling that is not real property (e.g., mobile home, house
boat)
Partial exemption for certain junior lien loans associated with housing
assistance loans for low/moderate-income consumers
Lenders who made 5 or fewer mortgage loans in the preceding calendar year
(unless made more than one HOEPA loan in any 12-month period)
(1026.2(h); 1026.19(e))
•
Evidence of Compliance
>
>
Loan Estimate
Closing Disclosure
3 years after consummation
5 years after consummation
>
Records can be maintained by any method that reproduces disclosures and
other records accurately, including computer programs (1026.25(c))
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Liability
Rule relies heavily on TILA statutory authority
RESPA Liability
• No private right of action for integrated disclosures under RESPA
• Administrative enforcement
TILA Liability
• Unlike RESPA, potential civil liability/private right of action
(borrower lawsuits)
• Potential assignee liability
Rule does not state whether TILA or RESPA statutory liability applies to
different parts of the rule
Instead states that the preamble describes the statutory authority for
each provision, which provides sufficient guidance for industry,
consumers, and the courts regarding liability
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Liability
CFPB Enforcement (Dodd Frank Act 1055)
• Administrative or Judicial
• Relief
• Refunds
• Restitution
• Damages
• Limitations on activities
• Costs in enforcing action
• Civil Money Penalties
• Tier 1: Up to $5,000 per day
• Tier 2: Reckless violations - up to $25,000 per day
• Tier 3: Knowing violations - up to $1,000,000 per day
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Compliance EAGLE Can Help You Solve for (X)
•
When do I need to provide a Loan Estimate?
•
When do I need to provide the SSPL?
•
When do I need to provide a Closing Disclosure?
•
When does a consumer need to receive the Loan Estimate?
•
Do I have evidence of consumer’s intent to proceed with the transaction?
•
When does a consumer need to receive the Closing Disclosure?
•
Are the fees within tolerance (variance)?
•
Is the APR accurate?
•
Is the Loan Product accurate?
•
Did I add a Prepayment Penalty after I provided the Closing Disclosure?
•
Do I need to redisclose?
•
Can I redisclose?
•
When do I need to redisclose?
•
Do I have evidence I complied with these questions and requirements?
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
What Triggers a Loan Estimate?
• Receipt of all six pieces of information (Application):
1.
2.
3.
4.
5.
6.
7.
Borrower Name
Borrower Monthly Income
Borrower SSN/ITIN (to get credit report)
Property Address
Estimated Property Value
Estimated Mortgage Loan Amount
“Any other information deemed necessary”
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Loan Estimate Timing and Delivery
•
Initial Loan Estimate delivered within:
>
3 business days after receiving Application (Creditor or Broker).
(1026.19(e)(1)(iii)(A))
-
>
If not provided in person, receipt assumed within 3 specific
business days after delivery or mailing. (1026.19(e)(1)(iv))
7 specific business days before consummation. (1026.19(e)(1)(iii)(B))
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Loan Estimate Timing and Delivery
•
Revised Loan Estimate:
>
Delivered within 3 business days of receiving information sufficient to
establish changed circumstance. (1026.19(e)(4)(i))
>
Received 4 specific business days before consummation.
>
Cannot be delivered with or after Closing Disclosure. (1026.19(e)(4)(ii))
(1026.19(e)(4)(i))
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
SSPL, Toolkit, and Intent to Proceed
•
Provide List of Settlement Service Providers (SSPL) within:
>
>
•
Provide Home Loan Toolkit within:
>
>
•
3 business days after receiving Application (1026.19(e)(1)(vi))
Identify at least one available provider for each settlement service for
which consumer is permitted to shop. (1026.19(e)(1)(vi))
3 business days after receiving Application for first lien purchase
money loan. (1026.19(g)(1))
http://files.consumerfinance.gov/f/201503_cfpb_your-home-loan-toolkit-web.pdf
Intent to Proceed
>
>
Cannot impose a fee (other than credit report fee) before consumer
has received Loan Estimate and indicated an intent to proceed with the
transaction described by that Loan Estimate. 1026.19(e)(2)(i)(A)
Must document to satisfy the requirements of 1026.25.
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Closing Disclosure Timing and Delivery
•
Closing Disclosure must be received by consumer no later than three specific business
days before consummation. (1026.19(f)(1)(ii))
>
•
If not provided in person, consumer considered to have received 3 specific business days after delivered or placed in
mail. (1026.19(f)(1)(iii))
Revised Closing Disclosure delivered at or before consummation reflecting any changed
terms, unless:
>
>
>
Disclosed APR becomes inaccurate
Loan Product changed – prior Closing Disclosure becomes inaccurate
Prepayment penalty added
THEN
•
Revised Closing Disclosure received 3 specific business days before consummation.
•
Post-Consummation Requirements
(1026.19(f)(2)(ii))
>
Changes within 30 days after consummation. If an event causes CD to be inaccurate with respect to an amount
consumer pays, creditor must provide a corrected CD within 30 days after learning of the change. (1026.19(f)(2)(iii))
>
Non-numeric clerical errors. Not a violation if non-numeric clerical errors, if creditor provides corrected disclosures
within 60 days after consummation. (1026.19(f)(2)(iv))
>
Tolerance cures. To cure a tolerance violation, refund and corrected CD has to be provided within 60 days after
consummation. (1026.19(f)(2)(v))
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Mavent Can Help You with Disclosure Timing and Delivery
•
Loan Estimate Mailed/Delivered Within Three Business Days of Application
•
•
Loan Estimate Mailed/Delivered At Least Seven Business Days Before Consummation
•
•
Initial Loan Estimate Date < 7 Business Days before Consummation Date
List of Settlement Service Providers Timing and Delivery Date Rules
•
•
•
•
Initial Loan Estimate Sent Date > 3 Business Days from Application Date
List of Settlement Service Providers Sent Date > 3 Business Days from Application Date
List of Settlement Service Providers Sent Date > 3 Business Days from Application Date
(Enterprise Rule)
List of Settlement Service Providers Sent Date is Missing
Loan Estimate Disclosure Received and Intent To Proceed
•
•
•
Intent To Proceed Date < Loan Estimate Date (In Person)
Intent To Proceed Date < Loan Estimate Presumed Received Date
Intent To Proceed Date < Loan Estimate Received Date
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Mavent Can Help You with Disclosure Timing and Delivery
•
Loan Estimate Received At Least Four Business Days Before Consummation
•
•
•
•
Prior Loan Estimate Received At Least Four Business Days Before Consummation
•
•
•
•
Prior Loan Estimate Sent Method In Person and No Received Date
Prior Loan Estimate Sent Method Not In Person and No Received Date
Prior Loan Estimate Received Date and Consummation Date
Prior Loan Estimate Received At Least Four Business Days Before Consummation
•
•
•
•
Last Loan Estimate Sent Method In Person and No Received Date
Last Loan Estimate Sent Method Not In Person and No Received Date
Last Loan Estimate Received Date and Consummation Date
Prior Loan Estimate Sent Method In Person and No Received Date
Prior Loan Estimate Sent Method Not In Person and No Received Date
Prior Loan Estimate Received Date and Consummation Date
Loan Estimate Disclosure Date on or after Closing Disclosure Date
•
Last Loan Estimate and Closing Disclosure
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Mavent Can Help You with Disclosure Timing and Delivery
•
Closing Disclosure and Consummation Date
Initial Closing Disclosure Sent Method In Person and No Received Date
Initial Closing Disclosure Sent Method Not In Person and No Received Date
Closing Disclosure Received Date and Consummation Date
•
•
•
•
Other
•
•
•
•
Document Sign Date is Missing
Initial Loan Estimate Sent Date is Missing
Document Sign Date and Loan Disbursement Date are Missing
Closing Disclosure Redisclosure and Waiting Period
•
•
•
•
Corrected Closing
Loan Product)
Corrected Closing
APR)(Regular)
Corrected Closing
APR)(Irregular)
Corrected Closing
Penalty Added)
Disclosure No Later Than 3 Business Days Before Consummation (Inaccurate
Disclosure No Later Than 3 Business Days Before Consummation (Inaccurate
Disclosure No Later Than 3 Business Days Before Consummation (Inaccurate
Disclosure No Later Than 3 Business Days Before Consummation (Prepayment
Closing Disclosure – Loan Product Description
•
If the Loan Product changes, creditor must provide a corrected
Closing Disclosure so consumer RECEIVES a Corrected Closing
Disclosure not later than the third specific business day before
Consummation.
•
There are five components to describe the Loan Product:
• Payment change feature
• Duration/time period of payment change (if applicable)
• Rate feature
• Duration/time period of initial rate change (if applicable)
Duration time period of subsequent rate change (if
applicable)
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Closing Disclosure – Loan Product Description
•
The Mavent Review in Compliance EAGLE will determine the loan product based on the characteristics of the loan.
•
Payment Change Feature
•
Negative Amortization
•
Interest Only Payment Period
•
Balloon Payment (payment that is 2x prior payment amount)
•
Payment Change Duration
•
Number of months divisible by 12 – Describe with “Year”
•
Less than 24 months – Describe with “mo.”
•
Equal to or greater than 24 months – Describe with “Year”, rounded to two decimal places
•
Rate Change Feature
•
Adjustable Rate
•
Step Rate
•
Fixed Rate
•
Initial and Rate Change Duration
•
Number of months divisible by 12 – Describe with “Year”
•
Less than 24 months – Describe with “mo.”
•
Equal to or greater than 24 months – Describe with “Year”, rounded to two decimal places
•
If the loan product disclosed on the Closing Disclosure is inaccurate, the system will fail the loan.
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Changed Circumstances and
Fee Variance/Tolerance
Tolerances: Good Faith Estimate of Closing Costs
•
Final Rule Expands the 0% Tolerance Category
>
0% Increase Category
o
o
o
o
>
0% Decrease Category (Lender Credits)
>
10% Category (aggregate amount)
o
o
>
(1026.19(e)(3)(i))
(1026.19(e)(3)(ii))
Services for which the consumer can shop, but selects a provider on the written list of providers
Recording fees
No Tolerance Limitation
o
o
o
o
o
•
(1026.19(e)(3)(i))
Fees paid to the creditor, a mortgage broker
Affiliates of the creditor or mortgage broker
Third-party services for which the consumer cannot shop
Transfer taxes
(1026.19e)(3)(iii)
Optional/voluntary services (including owner's title insurance)
Prepaid interest
Property insurance premiums
Amounts placed into an escrow, impound, reserve, or similar account
Fees to 3rd party service providers not on list provided by creditor
Changed circumstance/borrower requested changes still apply
>
>
Have to send revised disclosure within three business days of the change
Rule for rate locks
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Changed Circumstance Categories
•
Changed circumstance affecting settlement charges
>
•
Changed circumstance affecting eligibility
>
•
•
(1026.19(e)(3)(iv)(B))
(1026.19(e)(3)(iv)(C))
(1026.19(e)(3)(iv)(D))
Example: Initial Loan Estimate with no rate lock
Expiration of initial Loan Estimate
>
(1026.19(e)(3)(iv)(E))
Example: Intent to Proceed on Business Day 11
Delayed settlement date on construction loan
>
(1026.19(e)(3)(iv)(A))
Example: Adding Power of Attorney
Interest rate dependent charges
>
•
Example: Ineligible for Loan Program
Revisions requested by consumer
>
•
Example: Appraisal Fee to Affiliate
(1026.19(e)(3)(iv)(F))
Example: Settlement expected to occur more than 60 days after initial Loan Estimate and
statement provided on initial Loan Estimate
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Calculating Fee Category Variances and
Documenting Changed Circumstances
• The Compliance EAGLE Mavent Review will
help assess actual values prior to and at
each disclosure event to determine:
> Did the aggregate of lender credits decrease?
> Did any charge subject to 0% variance get
added or increase?
> Did the aggregate of the 10% variance section
exceed the 10% limit?
> Did a component of the 10% variance section get
removed?
> Was an appropriate change circumstance
documented?
> Were the charges that changed related to the
identified change circumstance?
> Was the change circumstance re-disclosed on time?
> Are the fee names consistent between LE and CD?
> Did the fee change sections between LE and CD?
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Loan Estimate vs. Closing Disclosure Fee Variance Thresholds
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Loan Estimate and Closing
Disclosure Form Issues
Loan Estimate/Closing Disclosure Form Issues
•
Dynamic Forms
>
•
Adjustable Interest Rates (AIR) and Adjustable Payments (AP) Tables
Loan Product Defined Term
>
>
Triggers revised CD with a new waiting period
1026.37(a)(10); 1026.38(a)(5)(iii) & 1026.19(f)(2)(ii)
•
Projected Payments Table
•
Loan Calculations and Comparisons
>
>
>
>
>
•
Additional Information About This Loan
>
>
>
•
Comparisons
In 5 years – Total PITI and loan costs paid off
In 5 years – Total Principal paid off
APR
Total Interest Percentage (TIP)
Broker NMLSR ID
Lender NMLSR ID
LO NMLSR ID for Broker and Lender, Name
Round, Truncate, Keeping Actual Values
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Loan Estimate Comparison – Requirements
The Mavent Compliance Service within Compliance EAGLE
will calculate the following values and compare them to the last
disclosed values (until a Closing Disclosure has been sent):
•
•
•
•
Total Principal, Interest, MI, and Loan Costs in First Five
Years
Total Principal in First Five Years
APR
Total Interest Percentage
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Closing Disclosure – Requirements
The Mavent system will calculate and verify the values disclosed on
the Closing Disclosure:
•
•
•
•
•
Finance Charge
Amount Financed
APR
Total Interest Percentage
Liability after Foreclosure
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Closing Disclosure – Requirements
•
Loan Estimate Total Principal in Five Years
•
Last Loan Estimate Total Principal in Five Years < System Calculated
•
Last Loan Estimate Total Principal in Five Years > System Calculated
•
Loan Estimate Total Interest Percentage (TIP)
•
•
•
Closing Disclosure Total Interest Percentage (TIP)
•
•
•
Disclosed Finance Charge Must Be >= Actual Finance Charge - $100
Foreclosure Rescission Finance Charge Tolerance
•
•
Closed-End APR Irregular Loan Disclosure Tolerance
Finance Charge Disclosure Tolerance
•
•
Closed-End APR Disclosure Tolerance
APR Disclosure Tolerance (Irregular)
•
•
Last Closing Disclosure Total Interest Percentage (TIP) < System Calculated
Last Closing Disclosure Total Interest Percentage (TIP) > System Calculated
APR Disclosure Tolerance (Regular)
•
•
Last Loan Estimate Total Interest Percentage (TIP) < System Calculated
Last Loan Estimate Total Interest Percentage (TIP) > System Calculated
Disclosed Finance Charge Must Be >= Actual Finance Charge - $35
Finance Charge Rescission Tolerance
•
Closed-End Finance Charge Rescission Tolerance
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Closing Disclosure – Projected Payment Table Requirements
•
Mavent Compliance Service will calculate the Projected Payments Table for
either the Loan Estimate or Closing Disclosure
•
Mavent Compliance Service will compare Disclosed Projected Payments
Table to Calculated Projected Payments Table
• Number of Columns
• Years in Sequence Subheading
• Principal & Interest Payments
• Interest Only
• Min and Max Principal and Interest
• Mortgage Insurance
• Estimated Total Payment
©2015 Mavent Inc. All rights reserved. This presentation and its content are intended for general information purposes only and should not be construed as legal advice or
opinion on any specific facts or circumstances.
Closing Disclosure – Projected Payment Table Requirements
Closing Disclosure – Other Mavent Reviews
•
Adjustable Interest Rate Table
• The Mavent Compliance Service will calculate the Adjustable
Interest Rate Table and compare the last disclosed Adjustable
Interest Rate Table (from the LE or CD) to Calculated Adjustable
Interest Rate Table.
•
Adjustable Payment Table
• The Mavent Compliance Service will calculate the Adjustable
Payment Table and compare the last Disclosed Adjustable Payment
Table (from the LE or CD) to the Calculated Adjustable Payment
Table.
Closing Disclosure – Other Mavent Reviews
•
Cash to Close
• The Mavent Compliance Service within Compliance EAGLE will
calculate and verify values disclosed within the Loan Estimate and
Closing Disclosure Cash to Close tables.
•
•
•
•
•
•
•
•
•
Total Closing Costs
Closing Costs Paid Before Closing
Closing Costs Financed
Down Payment/Funds from Borrower
Deposit
Funds for Borrower
Seller Credits
Adjustments and Other Credits
Cash to Close
CFPB RESPA-TILA Implementation Resources
©2015 Mavent Inc.
Transition to Compliance EAGLE
Demonstration and Final Quarter Roadmap
LOS/Customer Interface Timeline
December 2014 to April 2015 – LOS partners
implementing RESPA-TILA changes.
January to June 2015 – LOS partners testing
new fields for RESPA-TILA changes with
Compliance EAGLE.
January to July 31, 2015 – Users testing
RESPA-TILA changes directly within Compliance
EAGLE and via their LOS integration.
August 1, 2015 – Live operation of RESPA-TILA
rules for applicable loan review requests
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Part One of a Two-Part Series
Today’s Topic – Ensuring TRID Compliance
Coming in May – Eliminating SSPL Fee Cures
Tolerance levels for fees under TRID are tightening.
You can’t afford more borrower refunds out of your pockets.
The average cure TODAY is $75 per borrower and it will skyrocket under TRID to perhaps
$150-200 unless you use Compliance EAGLE’s Guaranteed Closing Cost System with over
20,000 service providers nationwide. Pay for your entire compliance process with the savings
from this feature.
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Every Loan, Every State, Every Regulation
Services
•
•
•
•
•
•
•
•
•
•
•
•
•
Everything TRID
Federal, State, Local Rules and Regulations
Instant HMDA validations (loan Level)
QM/ATR
ClosingCorp Advantage Real numbers - Not estimates
Actual closing cost data
Exclusionary Lists
Flood
LoanSafe Risk Manager tools (Fraud and Collateral safe
guard)
LSC FHA AUS (significant cost savings)
Guaranteed transfer tax and recording fees
4506T and SSA 89 (SSN Verifications)
AVM Tools
Vendors
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Reminder to Check Your Email for Part 2
In May, we will follow up with Part 2 of our
Webinar series:
Are you “guesstimating” your way through
loan estimates? In today’s lending world,
that’s a risk you can’t afford.
We will show you how Compliance EAGLE
provides you a solution to solve these
issues.
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Questions & Contact for More Information
QUESTIONS & ANSWERS
If you have a question,
please submit it using the
questions tab on the
GoToWebinar tool bar.
Sales Department
800-575-4632, Option 1
sales@questsoft.com
Steve Butler
Senior Vice President,
Compliance EAGLE Products
800-575-4632, ext 220
steve.butler@questsoft.com
© 2015 QuestSoft Corporation. The content of this webinar is confidential and not to be copied or distributed without the written permission of QuestSoft
Make TRID Relaxing
For More Information About
Compliance EAGLE, contact
800-575-4632, Option 1 or
visit us at www.quesoft .com