Educating our business partners has become imperative, especially given the far reaching regulatory changes outlined in TILA RESPA. Our goal is to help educate our business partners so that we can provide the most protected environment for the consumer.
Hartford, CT (PRWEB) March 25, 2015
Top U.S. mortgage lenders and realtors are teaming up with Morf Media, Inc., developer of enterprise compliance training software-as-a-service for mobiles, to sponsor complimentary compliance training in major cities across the nation. The workshop provides an overview to help industry executives, mortgage originators and real estate agents prepare for new processes, deadlines and archiving rules associated with the upcoming TILA-RESPA integrated disclosure rule to take effect on August 1, 2015.
Scott Compton, divisional production executive at Plaza Home Mortgage, Inc. commented on the value of training for the upcoming rule now: "Educating our business partners has become imperative, especially given the far reaching regulatory changes outlined in the TILA RESPA Integrated Disclosure rule. Our goal is to help train and educate our business partners so that we can provide the most protected environment for the consumer."
Recovering housing markets, lower interest rates and the latest standards for qualified mortgages are fueling growth on many fronts but managing for change and new compliance mandates is also adding to the challenge. Loan origination software needs to be reviewed. Closing communications need to be revised. New forms and processes and strict standards require excellent records management practices and procedures that must conform to the upcoming integrated disclosure rule, Truth in Lending and Real Estate Settlement Procedures Act, (TILA-RESPA) this summer. The 1888 page rule impacts consumers, loan agents, real estate agents, processes and software.
The TILA-RESPA Integrated Disclosure rule consolidates four existing disclosures required under TILA and RESPA for most closed-end consumer credit transactions secured by real estate into two forms:
- Loan Estimate given three business days after application
- Closing Disclosure given three business days prior to consummation.
The training will provide an overview on change management including:
- New Loan Estimate Delivery
- Closing Disclosure Delivery Timelines
- Loan Estimate And Closing Disclosure
- New Application Definition Tolerances
The event is designed to provide a high level overview of the new rule. Detailed step by step training on meeting TILA-RESPA compliance is available via Morf Learning, award-winning enterprise training platform for mobiles. Morf Learning is optimized to make enterprise compliance training effective for professionals on the go. It includes a library of certified course content that is delivered in an innovative way to delight and engage employees, partners and administrators with its playbooks for compliance success. It offers powerful analytics engines that show an individual’s progress, strengths and areas needed for improvement, proof of examination and more.
For more information about piloting Morf Learning, please visit http://www.morfmedia.com. Morf Media invites industry training experts to contact us to learn more about the benefits of delivering enterprise training with Morf Learning/
About Morf Media, Inc.
Morf Media, Inc., developer of Morf Learning,™ provides a complete compliance training system via the cloud with built in authoring tools, gamification, smart analytics and reporting for fast, easy delivery to the mobile workforce anytime, anywhere. Morf Media customers are Global 2000 companies running in complex or highly regulated environments, and include the finance, real estate, and pharmaceutical sectors. Founded in 2013, Morf Media is headquartered in San Francisco, California.
For more information about Morf Media, please visit: http://www.morfmedia.com.
For crowdfunding information about Morf Media, please visit Angel List, Gust or Equitynet.
Vice President Marketing of Morf Media, Inc. USA