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Last week we introduced you to the Closing Call Blog, and we hope you have found it informative!
We have covered a myriad of the ruling’s components that define some of the operating parameters we are all going to have to get used to. The one thing this begins to define is “all the rules are changing” and this is getting complicated already!
These rules have a major impact on the way we do business and without major changes in technology we could all have a very hard time keeping track of everything. The unwritten business impacts include:
In any case, I think everyone can see the benefits of solid technical solutions that will minimize the impact.
This week, we will dive into the Loan Estimate disclosure. In addition to discussing the high level impacts it will have, we'll also be exploring the sections of the form and how that will change the way we do business.
We also invite you to visit the TilaRespa Knowledge Center, where we will continuously post knowledge articles and white papers. You can also participate in forums to join conversations with others in the industry.
All information and views expressed or implied are provided without warranty and are only the opinion of Pavaso, Inc. Each participant should seek legal representation for legal interpretation of the ruling and the CFPB directly for final instruction and interpretation. The final rule can be found here.