ISGN Enhances Gators Platform to Comply with New TRID Closing Disclosure Requirements

June 4, 2015

ISGN Corp., a provider of end-to-end technology solutions and services to the U.S. mortgage industry, announced enhancements to its Gators settlement services and vendor management platform to help lenders and servicers prepare for the Consumer Financial Protections Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rules that will go into effect Aug. 1.

ISGN’s Gators is a web-based title and closing solution that streamlines the fulfillment and processing of orders, the company said in a release. Gators will default to the correct disclosure based upon the loan purpose. Gators users will still have the option to produce the HUD-1 and Good Faith Estimate for the loan products that do not require the new closing disclosure form.

ISGN said the new Gators platform will also soon support version 3.3 of the Mortgage Industry Standards Maintenance Organization (MISMO) Reference Model. ISGN developed the enhancements natively to maintain the platform’s current functionality for existing users, eliminating the difficulties associated with learning a new system.

“Our team of compliance experts carefully examined the CFPB’s nearly 2,000-page document to develop the necessary enhancements for Gators to help lenders and servicers seamlessly comply with the new regulations by the August 1 deadline,” said Don Gaspar, chief technology officer for ISGN. “While the next couple of months will certainly be challenging, we are embarking on a journey towards complete mortgage technology transformation, and these new system upgrades are what the industry needs to move toward greater efficiency and profitability.”

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