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ComplianceEase Releases TRID 2.0 Update for ComplianceAnalyzer
—Industry-Leading Compliance Risk Management Platform Is the First TRID 2.0-Ready Solution on the Market—

Burlingame, Calif. - Mar. 13, 2018 - ComplianceEase®, the nation's leading provider of automated compliance solutions to the financial services industry, announced today that it has updated ComplianceAnalyzer® with TRID Monitor™ to comply with the 2017 TILA-RESPA Integrated Disclosure (TRID) Rule.

TRID 2.0, as the new amendments are known,becomes mandatory on October 1, 2018. With this update, ComplianceAnalyzer with TRID Monitor, the residential mortgage industry's leading compliance risk management platform, is the first major compliance solution to be TRID 2.0-ready. It will allow lenders to configure their company profile to adopt the new provisions from TRID 2.0 early, including the thresholds for the Total of Payments (TOP).

Lenders will be able to perform the following tests, which examine the new required thresholds for TOP, in ComplianceAnalyzer:

  • TRID Total of Payments Test
  • TRID Rescission Total of Payments Test
  • TRID Foreclosure Rescission Total of Payments Test

In addition, TRID 2.0 makes "coop" loans subject to TRID and these loans can now be audited using the new update.

The TRID 2.0 update is already available to lenders that use the web browser version of ComplianceAnalyzer. In order to use the TRID 2.0 settings in loan origination systems, providers must update their integrations with ComplianceAnalyzer.

"The industry has had a slow start in getting ready for TRID 2.0, because tech providers have pushed it down in the queue as they prioritized the new Uniform Closing Dataset (UCD) and Home Mortgage Disclosure Act (HMDA) reporting rules, which had hard 2017 year-end deadlines," said John Vong, president of ComplianceEase. "Our update to ComplianceAnalyzer not only provides our clients with the flexibility to adopt the new rule early, but also makes us the first compliance risk management platform to be TRID 2.0-ready".

About ComplianceEase®

Headquartered in the Silicon Valley, ComplianceEase, a division of LogicEase Solutions Inc., is a leading provider of risk management solutions to the financial services industry. ComplianceEase's patented platform includes ComplianceAnalyzer®, the mortgage industry's most adopted automated compliance solution with the most comprehensive TRID auditing. ComplianceEase combines regulatory expertise with innovative technology to power end-to-end risk management solutions that help financial institutions improve compliance controls and increase profitability. The company's growing client base includes financial institutions, service providers, law firms, GSEs, and three of the top five mortgage lenders in the U.S. ComplianceEase's automated compliance solutions have also been adopted as e-Exam tools by federal and state banking and mortgage regulators. For more information, visit ComplianceEase.com or call 1.866.212.Ease(3273).

Press Contact

Bill Campbell
Campbell Lewis Communications

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