TRIDHotline.com launched by Lenders Compliance Group

LONG BEACH, N.Y. - May 26, 2015 - PRLog -- Lenders Compliance Group, Inc. (LCG), the nationwide mortgage risk management firm, today announced TRIDHotline.com, a free service to residential mortgage lenders and originators involved in implementing TILA-RESPA Disclosure Integration (TRID). TRID refers to the new TILA-RESPA consumer disclosure that is replacing the Good Faith Estimate, Truth-in-Lending Disclosure, and the HUD-1 Settlement Statement.

The compliance effective date for TRID is August 1, 2015.

Recently, LCG established TEAM TRID™, consisting of Subject Matter Experts in all relevant areas of regulatory compliance, the purpose of which is to provide guidance in TRID implementation requirements.

Jonathan Foxx, the President & Managing Director of Lenders Compliance Group, stated in an announcement:

“We decided to establish a no-fee outreach effort to financial firms involved in TRID implementation. We want to listen to these companies! There are just too many pundits telling mortgage originators what they supposedly need to know. But these pundits are not listening to the specific needs of a financial institution. TRIDHotline.com is our way of listening!”

TRIDHotline.com is a website that enables a user to send an email to TEAM TRID™. Its hours of operation are Monday to Friday, 9AM to 5PM (EST). Inquiries are reviewed by members of TEAM TRID™. Responses are arranged usually in 24-72 hours. In order to accommodate the large number of inquiries, TRIDHotline.com accepts a limited number of inquiries per company in a thirty day period.

In an interview with media, Mr. Foxx stated that “because TRID implementation is coming soon, we want to do what we can to help in this informal way. We believe that TRIDHotline.com is one way to offer some compliance support to mortgage loan originators."

TEAM TRID™ is a compliance solution offered by LCG as a hands-on approach. It is provided on a flat fee basis. TRID is certainly a once-in-a-generation change to residential mortgage loan disclosure. The cost-effective and reliable task force, TEAM TRID™, assists in its timely implementation.

Visit TRIDHotline.com

Visit TEAM TRID™

About: Lenders Compliance Group
Lenders Compliance Group, Inc. is the first full-service, mortgage risk management firm in the United States that specializes exclusively in outsourced residential mortgage compliance. It offers a full suite of regulatory compliance services in mortgage banking. It is a national company that is widely known to be a pioneer in outsourcing, information, and auditing solutions in the financial services area of residential mortgage compliance.