Technology

With the implementation date for the TILA-RESPA Integrated Disclosures just days away, here's a look at some of the finishing touches the mortgage industry is making to its technology and training preparations.

Lenders that allow borrowers to shop for third-party settlement services face new liability, as the Consumer Financial Protection Bureau's integrated mortgage disclosure rules will let borrowers sue over problems with vendor lists.

Mid America Mortgage will utilize document preparation and electronic signature and vaulting technology developed by DocMagic to facilitate paperless mortgage closings complete with e-signed promissory notes.

Lenders should be excited about the TILA-RESPA Integrated Disclosures because it will help them provide better customer service and new opportunities to engage and educate borrowers.

Servicers should make some simple requests of their tech vendors to tailor compliance systems to their needs and avoid the headaches of overhauling compliance systems.

There is no universal definition of "TRID-ready," but any vendor claiming it's prepared for the new integrated disclosures should allow lenders to test the changes. Here's what to look for, and the red flags that should be cause for concern.

Heartland Financial USA has hired Insuritas to help it expand its insurance business.

Connected Investors has created a new centralized real estate investment funding portal that the Wilmington, N.C.-based company believes will simplify deals and relationships.

Brian Webster, the Consumer Financial Protection Bureau's mortgage originations program manager who has worked on a number of technology-related policy and research initiatives, is leaving the agency to join Wells Fargo Home Mortgage.

The rising costs to service mortgages reflects a market where there are not only downsides to being too small, but hurdles to being too large — raising the question of whether there's a middle ground where servicers are not too big, not too small, but just right.