RamQuest Releases Closing Disclosure Solution

April 23, 2015

RamQuest Inc. announced the early release of Complete Closing version 8.0, which includes a Closing Disclosure solution that meets the requirements of the TILA-RESPA Integrated Disclosure Rule (TRID) that goes into effect on Aug. 1.

RamQuest said it will continue to refine its solution and has committed to an iterative process with releases in the coming months in order to respond to the evolving business needs of customers as they begin to train staff about the new form and test live scenarios with lender customers.

”We are production ready with our Closing Disclosure solution, well in advance of the go-live requirement date for the TRID implementation,” said Paul Bandiera, president of RamQuest. “We knew that the direction to take with this was a Closing Disclosure design that would enable us to be flexible in the coming months as our customers begin the TRID integration into their businesses and our solution does just that.”

RamQuest’s Closing Disclosure solution is intuitive and easy to manage, according to Bandiera. Featuring a dynamic design, RamQuest’s Closing Disclosure expands and contracts, self-adjusting as needed for each unique transaction. RamQuest’s Closing Disclosure also features a flexible override mode that will enable title and settlement agents to meet specific lender requests and handle exceptions with ease. RamQuest’s unique approach ensures that its customers will have a Closing Disclosure that fully supports lender collaboration and is fully integrated with lender origination solutions, said Mary Schuster, RamQuest’s chief product officer.

“We’re tremendously excited today as this release is the realization of many months of interpreting regulatory guidance, applying seasoned experience and overlaying what we know were the intentions, goals and practicalities the CFPB envisioned when creating the new rule,” Schuster said. “Placing a working tool in the hands of our customers early allows them to streamline 1,888 pages of regulatory text into a more manageable and hands-on implementation process.”

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