With the two-year anniversary of the TRID rule coming up, the MReport, the leading mortgage banking industry publication, asked us for some expert insights about how the industry is dealing with the incorporation of the mandates. Charlotte Brown, one of our product regionalization and document production systems experts, provided her views in the recently posted Ever-Changing TRID Demands Companies Pivot to Stay Current.
Through her extensive experiences with title insurance compliance teams working tirelessly to comply with the highly regulated lending environment, Charlotte developed a strong handle on how top real estate closing professionals prime their companies for fast and frequent adaptation.
Charlotte’s top recommendation for staying current is investing in software as a service (SaaS). Since SaaS solutions are web-based, they can automatically update in real time so that your company is in compliance with the latest local, state and federal laws and regulations without you even having to think about it. And while buying updates to on-premise solutions or rebuilding your systems internally can break the bank, SaaS-based systems can be incredibly affordable with no maintenance required.
When choosing a web-based system for your company, integration, transparency, audit trails and security provide a great foundation for making the right decision.
The big takeaway here is that in a constantly changing environment, those that adapt will win. SaaS systems make it easy to stay on top of it all, so that you can focus on serving your customers and growing your business.
Have more questions? We’re here to help.