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Lenders and servicers are not the only ones faced with regulatory burdens. Title and escrow companies are also wading through the influx of new rules and requirements.
Cristy Ward, Chief Strategy Officer at Mortgage Connect sat down with MReport to explain how title and escrow companies are dealing with regulatory requirements, where this industry is headed, and how they can ensure their business is successful.
While the industry has been able to absorb the battery of regulatory changes, TRID has completely changed the name of the game. Cristy Ward, Chief Strategy Officer focused on consumer experience at Mortgage Connect, LP, explained that TRID upkeep and operational maintenance continues to be the center of focus for lenders and their associated title and closing partners.
“TRID has been tough on the industry as a whole. Many lenders are still struggling with technology platforms and forced to create manual workarounds to process their transactions,” Ward said.
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