First American Updates PredProtect for TRID

August 20, 2015

First American Financial Corp.’s Mortgage Solutions Group launched new PredProtect enhancements and schema, along with the availability of its testing site, developed to meet the needs of banks and mortgage lenders in complying with the TILA-RESPA Integrated Disclosures (TRID) Rule.

“TRID-readiness is a top priority for our customers, so it’s also been a top priority for the PredProtect development team for the last year,” said Jeff Moyer, chief product and strategy officer for First American Mortgage Solutions. “We believe our customers will benefit from the enhancements made to PredProtect.”

The enhancements include:

  • updated loan information Input fields
  • updated worksheet and summary of results section
  • product type flexibility
  • TRID test enhancements
  • Closing Disclosure–re-disclosure analysis
  • disclosure timing analysis
  • total interest percentage analysis
  • five-year comparison analysis

The updated version of PredProtect also includes the loan-level fee override feature, which allows users to override undesired fee treatment and immediate fee treatment handling on a case-by-case basis, and the loan-level test controls feature, which allows users to turn system tests on or off on a case-by-case basis.

In addition, the PredProtect Loan Fees screen has been updated to look similar to the new disclosures to enhance the overall user experience. The TRID tests and related enhancements will be available for all PredProtect manual users and for PredProtect automated users requesting the new version 5.0 schema.

“Clearly, TRID fundamentally alters the loan manufacturing timeline and process for mortgage lenders,” said Kevin Wall, president of First American Mortgage Solutions. “Now, lenders who rely on PredProtect can proceed with confidence knowing they have a TRID-ready solution well before the effective date, which gives them plenty of time to perfect their training and processes.”

According to First American, PredProtect is available through direct integrations across a wide variety of loan origination systems and partners supporting these TRID-related enhancements.

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