Trid Compliance Oversight Solutions

Summary

The mortgage company faced a TRID compliance issue due to missing lender disclosures. They implemented a reminder system to prevent future issues. To correct current files, they should contact borrowers, provide missing disclosures, and document the process. Regular audits and staff training are recommended for ongoing compliance.

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how to we correct the files currently missing the lenders initial disclosure packet
To correct files missing the lender's initial disclosure packet, consider the following steps:
- Contact the borrowers involved and explain the oversight.
- Provide the missing disclosure packets promptly.
- Document the correction process for compliance records.
- Review internal procedures to prevent future occurrences.

If further legal advice is needed, consulting with a compliance expert might be beneficial.