Compliance Systems, Inc. (CSi), a highly respected provider of best-in-class financial transaction technology and expertise, has received this year’s Top Innovations Award from the PROGRESS in Lending Association for its TILA-RESPA Integrated Disclosures (TRID) Solution. The honor was given at an award ceremony that marked the opening of the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference in Orlando, Florida.
PROGRESS in Lending’s Innovation Awards were given for innovations that were introduced into the mortgage industry between January and December of 2014 and changed the industry for the better.
CSi’s TRID Solution addresses the highly technical and dynamic compliance specifications of the CFPB’s TILA-RESPA Integration Disclosures, and it does so by creating an extensible platform for analyzing, assembling, disclosing, and transmitting transaction data. This same platform also positions CSi to address the Uniform Closing Dataset that will be required by Fannie Mae and Freddie Mac.
CSi partners with the best loan origination systems in the nation to deliver its dynamic transaction risk management documentation solutions. By delivering its Solution in August 2014, CSi provided its business partners nearly a year to focus on the process changes required to comply with the Rule. Throughout their integrations, CSi’s partners expressed appreciation that the TRID Solution so easily addressed their own concerns as technology providers as well as concerns that had already been expressed to them by CSi’s and the partner’s mutual clients.
Reid Smeda, President of CSi, notes, “With its ability to ensure compliance for every transaction in a matter of seconds through just two pieces of software, CSi’s TRID Solution offers lenders unlimited revenue growth opportunities. Instead of incurring the hard cost of managing thousand of templates or the revenue limitations of restricting product offerings, lenders have the ability to efficiently offer all loan products that borrowers seek in an evolving market.”
For more information on the PROGRESS in Lending Innovations Award, please visit the PROGRESS in Lending site.