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Denver-based Motivity Solutions has released a TRID Readiness Module for Movation, its mortgage business intelligence platform, in order to help lenders comply with the Aug. 1 implementation date.
The module combines Movation’s MBI engine with new TRID-specific requirements to help lenders ensure they remain compliant with the new TILA RESPA Integrated Disclosure rules.
“What TRID is forcing you to do is to become more efficient, and this is actually good for lenders,” said Motivity CEO Tyler Sherman.
“Everyone knows that you should look at your process and define when key events should happen, and then make your process match those key dates. And the only way to do that is to measure and monitor, in our opinion,” he continued.
What makes Movation unique is that it is tied directly to clients’ business processes to reveal data from a firm’s inner workings.
The TRID tool works backward from the projected closing date to make sure all the necessary steps from the closing are complete.
Motivity is making the TRID Readiness module available to all Movation clients at no charge.
