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More Changes in Lending

Paul Trotsky, VP, Northview Bank

This will be my third and final installment on the pending TILA/RESPA/TRID changes the CFPB is implementing effective October 3, 2015.  This may be the most relevant of the series for you.  

Northview Bank is confident that we are properly prepared for these pending changes.  We have in house compliance staff that has dedicated an enormous amount of time to this topic.  All of our lenders and support staff have been provided with in-house training in addition to third-party paid consultant training.  The document processing department has taken additional-third party consultant training and numerous webinars on the topic.  We have worked closely with a select group of title companies that we are confident have also made the necessary efforts to prepare for these pending changes.  We will not require any of our transactions to close with one of these vetted title companies; however, this list can enhance our success with the least amount of headaches.  We have taken these pending changes very serious.  We have trained, and we are ready to serve your buyers in the efficient and knowledgeable manner you have come to expect Northview Bank to offer.