One month down, many more to go! We covered quite a bit regarding the TILA-RESPA Integrated Disclosure rule during the opening weeks of this blog. From what loans will change and record retention, to a short history of the CFPB and digging into the Loan Estimate form, we’ve still only scratched the surface of everything in the new rule, and how it will impact the way we do business in our industry.
Here’s the most important thing we want you to remember: get involved in the conversation. This blog isn’t meant to strike fear into the industry, it’s meant to educate on how we can take this change and turn it into an opportunity to improve even beyond new regulation.
In the opening post of this blog, we stressed that you shouldn’t sit on the sidelines. Ask questions, so we as a community can answer them and talk through them together. From those in the front lines of the industry today, to our digital closing solution experts and everyone in between, we have a unique opportunity with an audience like this to discuss these changes together — to figure out how we can not only adapt to the change, but thrive in a new marketplace like we haven’t before.
Maybe you’re a little jittery about posting a comment for the world to see. We get that – so that’s why we’ve also created a place a bit less public for you to ask questions and learn more. At www.tilarespa.com, we have forums for people to ask questions and interact with digital closing experts, as well as a knowledge base that is building up weekly with more information on how technology can help you succeed.
Regardless of the channel you choose, let’s hear from you. How is this blog helping you and your business think forward to the changes for August 1, 2015? What else would you like to learn more about? Have you discussed what your business will need to change in order to succeed in the new marketplace?
And that brings us to the upcoming week, where we’ll continue to dig through some items and thoughts on the Loan Estimate form of the new TILA-RESPA Integrated Disclosure rule. Check back this week for the daily posts, and remember to jump into the conversation, whether here on this blog or at www.tilarespa.com.
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.
