Whether we like it or not, RealEC, Closing Insight, Closing Market, 360, TILA RESPA Integrated Disclosures (TRID), Texas Disclosure (T-64), TAR Authorization Form, etc., are now the way of the real estate world.
We are one month into this new world, and where do we find ourselves? We all planned for this event by attending seminars and webinars presented by the TLTA, ALTA, and every software vendor in the country. So, what happened? How has it impacted your office? What happened to your order count? Are you “connected” to your lender customers? Are you giving the lender copies of both the Seller and Buyer CD (Closing Disclosure)? How are your Realtor customers adjusting? Are your escrow officers signing the Texas Disclosure (T-64)?
The feedback to our staff has been limited due to the lack of files that have actually closed under the new TRID procedures. However, the first reported closing by one of our agents in Houston required the branch manager and two experienced escrow officers to work up the CD—not exactly a model of efficiency. There have also been reports of software glitches that have delayed the transfer of information from one party to another. The process will improve as our whole industry adjusts to a new way of conducting business.
FNTI’s staff is prepared and available to help you close transactions. We know you have questions and concerns. Please allow us the opportunity to answer your questions and eliminate your concerns. And help you make sense of this new world.
To learn more about FNTI and how we can help you succeed in 2015, visit our website at www.fnti.com. Also, be sure to check out our new mobile real estate title app—FIRST App, now available for download in the Apple and Google Play store. To see how easy it is to bring your business with you on the go with FIRST App, visit www.fnti.com/firstapp for a fun preview!