RamQuest, Inc., a leading provider of title and settlement solutions for the Land Title industry, announced today the early release of Complete Closing version 8.0, the company’s release that delivers its Closing Disclosure solution and meets the requirements of the CFPB TILA-RESPA Integrated Disclosure Rule (TRID) that goes into effect on August, 1 2015.
This release features RamQuest’s Closing Disclosure solution and is the culmination of many months of research, development, customer testing and feedback for RamQuest. RamQuest’s CDF solution also represents an important milestone in the industry’s TRID implementation preparation path as the first mass release of a Closing Disclosure solution from a title and settlement software provider, tooling the industry up for readiness. RamQuest will continue to refine its solution and has committed to an iterative process with rapid releases in the coming months in order to respond to the evolving business needs of customers as they begin to train the new form and implement Closing Disclosure testing and live scenarios with lender customers.
”We are production ready with our Closing Disclosure solution, well in advance of the Go-Live requirement date for the TRID implementation”, said Paul Bandiera, president of RamQuest. “We knew that the direction to take with this was a Closing Disclosure design that would enable us to be flexible in the coming months as our customers begin the TRID integration into their businesses and our solution does just that.”
RamQuest’s Closing Disclosure solution is smart and intuitive, easy to manage, easy to understand and easy to train. Featuring a dynamic design, RamQuest’s Closing Disclosure easily expands and contracts, self-adjusting as needed for each unique transaction. RamQuest’s Closing Disclosure also features a flexible override mode that will enable title and settlement agents to meet specific lender requests and handle exceptions with ease. And RamQuest’s unique approach ensures that its customers will have a Closing Disclosure that fully supports lender collaboration and is fully integrated with lender origination solutions.
“We’re tremendously excited today as this release is the realization of many months of interpreting regulatory guidance, applying seasoned experience and overlaying what we know were the intentions, goals and practicalities the CFPB envisioned when creating the new rule.” said Mary Schuster, RamQuest’s Chief Product Officer. “Placing a working tool in the hands of our customers early allows them to streamline 1,888 pages of regulatory text into a more manageable and hands-on implementation process.”
About RamQuest
RamQuest, Inc. is a Texas-based corporation that has been serving the title industry since 1991. As the premier provider of the Land Title industry’s most comprehensive title and settlement solutions, RamQuest’s products are currently in use for closings in all 50 states. For more information about RamQuest, visit www.ramquest.com.