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Sun Title Offers Expanded Hours and Support for new Dodd-Frank Act Regulations

September 29, 2015 Featured

On Saturday, October 3, 2015, the Consumer Financial Protection Bureau (CFPB) is implementing new regulations that will require new forms and timing requirements on most residential transactions that include closed-end mortgage loans. These new regulations are commonly referred to as "TRID".

TRID will have a substantial impact on Realtors® and lenders. Accordingly, Sun Title will provide the following services to assist in the transition:

Coordination and delivery of all essential numbers for lenders to create an accurate Loan Estimate and Closing Disclosure including estimates for:
    Property taxes
    Title insurance premiums
    Closing fees
    Transfer taxes
    Recording fees
   

Other applicable fees

A TRID response team available from 8:30am to 10:00pm Monday through Friday and from 9:00am through 3:00pm on Saturdays to answer any TRID-related questions and provide information as needed through our designated TRID support email at: This email address is being protected from spambots. You need JavaScript enabled to view it..

Creation of a pro-forma Closing Disclosure on each transaction for review by lenders.

Creation of a combined or bifurcated closing statement to be signed by the borrower and seller binding them to the closing numbers. Such closing statements will be provided to lenders and agents in advance of the closing.

Evening and weekend closing options.

TRID training for real estate, lending and compliance teams.

 

If you have any specific questions or ways that Sun Title can assist you, please feel free to contact Tom Cronkright directly at 616.458.9100 or This email address is being protected from spambots. You need JavaScript enabled to view it..

 

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