Almost one quarter of the way thru 2015. I have not spent an entire week at home since January- client meetings, site visits, consulting trips, TILA RESPA INTEGRATED DISCLOSURES Forums. Two snow storms and one Ice event…. its been a crazy year! What did I learn from all of this??? Texas sucks in the winter and that the picture of what the new closing paradigm is going to look like in the future is coming into focus.

Many Lenders and Servicers have begun to make announcements how they will handle the production of the Loan Estimate and Closing Disclosure. They will do this in many ways, however the one item I have heard consistently is this: If you are not able to integrate with the lenders Loan Origination System, you are gonna have a problem. The corollary to this rule is this- if your system is not secure, the bank will not share data sets with you….if they do, then they are exposing their system to possible vulnerabilities.

So many title providers and closing attorneys still think this whole change is not going to happen or have their head three feet in the sand, its gotten to be a bit disconcerting…. Its time to wake up and get your security standards built and get ready for 2015. Its not too late yet…. but in a matter of a month it will be too late.