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With last week being short due to the Labor Day holiday, Week 48 of the countdown to Aug. 1, 2015 flew by. Which brings us to Week 47 – the halfway mark for your project research and budgeting phase of the Lender Implementation Timeline. How many of you are 50% complete with this phase in your organization?

As you move through that process of determining what needs to be done in response to TILA-RESPA, we can’t say enough how important it is now to think beyond August 2015 in order to prepare for the new landscape of this industry. We’ve discussed this quite a bit recently, especially with last week’s post, which pointed out the foundation for the movement to a digital transformation.

A 2011 report from Capgemini Consulting and the MIT Center for Digital Business titled Digital Transformation: A Roadmap for Billion-Dollar Organizations points out the three key areas of enterprises that executives are digitally transforming:

1)  Customer Experience

2)  Operational Process

3)  Business Model

To put a real-world example to that concept, we used the well-known showdown between Netflix and Blockbuster. There we were reminded of a powerful shift in all three of those key areas for digital transformation that ultimately led to the now $4.37 billion/year Netflix shutting down the then $4 billion/year Blockbuster.

On the topic of industry shifts, we also have some great news of our own. We are proud to announce that Nancy Pratt has joined our team here at Pavaso. As some of you may know, Nancy led the efforts for Stewart’s SureClose/eClosingRoom offering, and we’re excited that she’ll be bringing her passion and knowledge of the industry and technology to Pavaso as our Director of eStrategy. Welcome aboard, Nancy!

Right around the corner is MBA’s Annual Convention & Expo this October. We’re looking forward to seeing you all there at our booth #451, be sure to visit us.

Check back this week for updates, and be sure to visit to view a growing knowledge base of information and forums where you can ask questions and interact with others in this 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.