ComplianceEase says its TRID Monitor tool is now integrated with the Mortgage Cadence Platform (MCP), the cloud-based digital lending platform from Mortgage Cadence.
The integration helps mortgage lenders monitor loans for TRID errors and correct them before they cause costly delays.
ComplianceEase, an automated mortgage compliance system from SitusAMC, ensures TRID compliance by monitoring and auditing loan terms at each point in the lifecycle, including loan estimate and closing disclosure timing, sequencing and tolerance testing, changed circumstances and reasons for redisclosures, and post-consummation cure analysis. ComplianceEase can be seamlessly integrated into loan origination systems and other workflows – with one-click data delivery of audit results to investors and regulators.
MCP is a modern, flexible and intuitive cloud-based LOS designed with an open architecture to meet the needs of a wide range of lenders, across all products and channels. Featuring advanced automation, high-quality analytics and open services strategy, MCP delivers a seamless experience from application to closing, the company says.
“We are excited to announce the availability of ComplianceEase’s TRID Monitor in MCP 3.0. The integration allows for further efficiency and seamless multi-disclosure compliance visibility for lenders on MCP,” says Jim Rosen, executive vice president of services at Mortgage Cadence.
“This provides invaluable assurance to lenders using MCP that loans originated are compliant with TRID regulations, providing peace of mind to investors and secondary market participants when loans are tested and evaluated prior to purchase and securitization,” adds Scott McNulla, managing director of SitusAMC.