Ernst Launches TRID-Ready Calculator

October 1, 2015

Ernst Publishing Co., a provider of technology and closing cost data for the real estate and home finance industries, announced that its TRID-ready closing cost calculator for the Loan Estimate and Closing Disclosure is now available. Lenders can use it in parallel with Ernst's existing GFE/HUD fee tools, the company said in a release. This will give lender customers time to test their new process with the system in advance of the Oct. 3 implementation of the TILA-RESPA Integrated Disclosure (TRID) rule.

"Anyone working on TRID implementation will tell you that there have been many unexpected challenges," said Gregory E. Teal, president and chief executive officer of Ernst Publishing. "We wanted to go live as early as possible so lenders can begin using the tool and testing their processes ahead of the CFPB's deadline.”

Ernst reports that its programs process an average of 150 million real estate transactions every year, industry-wide. Since the company was founded 26 years ago, Ernst has processed over one billion transactions. The firm estimates that its patented technology is in use for 90 percent of the nation's new loan originations and refinance transactions.

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