The mortgage industry in New Orleans is strictly regulated. One area that plays a significant role in real estate transactions is TILA-RESPA Integrated Disclosure (TRID) compliance. This strict regulation requires you to deliver transparent loan estimates. It also expects you to provide borrowers with accurate closing disclosures.
Lenders need to work with a title company that adheres to TRID compliance. In this post, you’ll discover why the right partnership matters. In addition, you’ll find reasons to work with Latitude Title Group.
What Exactly is TRID?
TRID is a strict regulation. The Consumer Financial Protection Bureau introduced it a decade ago. It harmonizes RESPA & TILA disclosures. RESPA means Real Estate Settlement Procedures Act. TILA means Truth in Lending Act.
TRID keeps the mortgage process transparent. It allows borrowers to understand loan terms. It also offers insights into other fees before investing. This allows them to make smart decisions. It also prevents surprises at closings.
Staying TRID-compliant is highly important for mortgage lenders in New Orleans. This simply means lenders must ensure all disclosures are accurate and delivered promptly. The effects of incorrect disclosures include:
- Disruption in closing timeline
- Borrower dissatisfaction and loss of trust
- Regulatory penalties—fines, legal issues, etc.
- Post-closing audit problems
Mortgage lenders can avoid these issues by partnering with a reliable title company. TRID compliance is crucial when hiring a title provider.
Understanding How Latitude Title Group Supports Lenders Today?
Experts at Latitude Title Group have a deep understanding of TRID regulations. To support mortgage lenders, this company designs processes that resonate perfectly with the lender’s compliance responsibilities.
Below are a few ways Latitude Title Group offers support today:
- First, this company helps with timely, accurate disclosures. Its experts perform thorough reviews on the lender instructions. This allows them to check and address any surprises that can affect real estate closings.
- Latitude Title Group prioritizes clear communication. This explains why the company assigns a single point of contact to each file. This process streamlines communication. It also ensures all disclosure requests receive quick responses and fixes.
- Partnering with Latitude Title Group means full-service title support. This company will work closely with you. This ensures your title commitments are accurately and timely delivered.
- Lastly, this company is fully committed to TRID compliance. Its experts are highly trained to uphold strict TRID compliance protocols. This commitment only means one thing—you can always trust Latitude Title Group to achieve transactions that meet regulatory standards.
Achieve Real Estate Closings With Confidence Today
Latitude Title Group isn’t just a regular title provider. In addition, it’s your TRID compliance ally. This means you’ll never go wrong partnering with this company today.
This company proactively manages every detail. It ensures compliance and helps you to achieve smooth real estate closings. These offerings ensure your interest is protected.
Start simplifying your real estate closings. Partner with a reliable TRID-compliant title service provider today. We recommend working with Latitude Title Group. You can visit the official website to learn more about how this company can support your business today.
