In preparation for the TRID effective date last fall, Amanda Phillips led Mortgage Cadence’s product and compliance teams that reviewed the final TILA-RESPA Integrated Disclosure Rule and drafted requirements on system enhancements.
Over 14 months prior to the TRID effective date, Phillips traveled to Washington, D.C. to meet with the CFPB leaders and discuss the new rule first hand. Throughout this process, Phillips worked with outside legal counsel, MBA, and MISMO, participated in CFPB roundtables and webinars, and met with other advisors in the industry to validate the company’s proposed implementation of the rule.
Phillips also assisted with a series of monthly webinars beginning over a year in advanced to provide customers with timely information. Ultimately, Mortgage Cadence was the first loan origination technology provider able to say their customers were closing TRID-compliant loans as early as October 2015 due to rolling the product releases out ahead of schedule.
Phillips distinguished herself in guiding Mortgage Cadence through the largest regulation change within the mortgage industry in more than 30 years. To ensure the receipt of timely and accurate information on TRID, Phillips fostered a critical relationship with CFPB decision-makers and she is already blazing a path that will set Mortgage Cadence up for early compliance with the HMDA regulation changes scheduled to take effect on Jan. 1, 2018. On a daily basis, Phillips also works closely with the Mortgage Cadence product and development teams to help interpret compliance requirements and assist in developing strategies and implementing changes within the Mortgage Cadence platforms.
Prior to joining Mortgage Cadence, Phillips served as director of compliance for a mid-sized independent mortgage bank based out of Plano, Texas.