[WSBARP] New HUD-1 TRID Compliant Software? Integrated Disclosure Rule

Wed Sep 23 14:01:08 PDT 2015

Here is a good video that explains the new CFPB rules Regarding the TILA and RESPA Integrated Disclosure (TRID) forms

There are interactive Closing Disclosure (CD) forms on the CFPB website.  Also, it will be the lender who will be preparing the buyer’s CD.  The closing agent will still prepare the Seller’s CD and other closing documents, such as the deed, etc.  These guys recommend adding 2 weeks to the time it typically takes a transaction to close.

Also, it is not true that you cannot make last minute changes on the CD, there are some items that will cause a delay, but only 3.  However, any change does have to be approved by the lender, since the lender has ultimate liability, so that may cause a delay, but possibly not 3-days.  I encourage all you closer’s out there to view this video if you have not already.

http://www.realtor.org/topics/trid-tila-respa-integrated-disclosure

Jeanne

Jeanne J. Dawes
Attorney at Law
Gore & Grewe, P.S.
103 E. Indiana Avenue, Suite A
Spokane, WA 99207-2317
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Kailei Feeney
Sent: Wednesday, September 23, 2015 10:43 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] New HUD-1 TRID Compliant Software? Integrated Disclosure Rule

The escrow company in our building uses and likes SoftPro.  I understand it is not exactly cheap though.

Kailei
Kailei B. Feeney
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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Scott Hislop
Sent: Wednesday, September 23, 2015 10:11 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] New HUD-1 TRID Compliant Software? Integrated Disclosure Rule

How do you like it?

Has anyone tried to implement  Easy Soft?

Wm. Scott Hislop
Partner | Wolff, Hislop & Crockett, PLLC
12209 E. Mission Ste 5
Spokane Valley, WA 99206
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F 509.777.1800
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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Bryce Dille
Sent: Wednesday, September 23, 2015 9:43 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] New HUD-1 TRID Compliant Software? Integrated Disclosure Rule

Our office installed a product called Softpro.

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Bryce H. Dille
Campbell, Dille, Barnett & Smith,  PLLC
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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Scott Hislop
Sent: Wednesday, September 23, 2015 9:16 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] New HUD-1 TRID Compliant Software? Integrated Disclosure Rule

Rob:

Great Question.  I am in the same spot.

Scott

Wm. Scott Hislop
Partner | Wolff, Hislop & Crockett, PLLC
12209 E. Mission Ste 5
Spokane Valley, WA 99206
T. 509.927.9700
F 509.777.1800
www.wolffandhislop.com<http://www.wolffandhislop.com/>

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THE CONTENTS OF THIS ELECTRONIC MAIL ARE CONFIDENTIAL AND PROTECTED BY THE ATTORNEY-CLIENT PRIVILEGE OR OTHER APPLICABLE PROTECTION.  Any review, use, distribution or disclosure by others is strictly prohibited.  If you have received this electronic mail in error, PLEASE NOTIFY ME BY E-MAIL, FAX OR TELEPHONE and PROMPTLY DELETE this electronic mail.  This mail cannot be modified without the express written consent of Wolff, Hislop, & Crockett, PLLC.  Thank You.

IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by Treasury and the Internal Revenue Service, we inform you that any federal tax advice contained in this communication (including attachments) is not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax related penalties that may be imposed on you or any other person under the Internal Revenue Code, or (b) promoting, marketing or recommending to another person any transaction or matter addressed in this communication.

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Rob Rowley
Sent: Wednesday, September 23, 2015 8:16 AM
To: WSBA RPPT
Subject: [WSBARP] New HUD-1 TRID Compliant Software? Integrated Disclosure Rule

What is everyone going to be using or looking at in the way of new TRID complaint software for the new settlement statements/TILA? Eventually the CFPB will stop rolling back the compliance date.

I’ve asked around here in Spokane and I’m amazed on how many of the attorney closers are still looking at different products.

I’m looking for something cheap as I’m not a power closer needing all of the bells and whistles. Just a simple spreadsheet or software program that will be compliant.

Thanks.

Please note that effective May 15, 2015, my new address is 7 South Howard St., Suite 218, Spokane, WA 99201.  All other contact information remains the same.

[cid:image005.jpg at 01D0F607.BC5B5310]Robert R. Rowley | Attorney at Law
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