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TILA-RESPA Closing Disclosure Center

Standard Solutions CD Help and Resources


October 18, 2015: We've updated this page with additional help and resources for the Closing Disclosure.

>> CFPB's Guide to the Loan Estimate and Closing Disclosure Forms: This is essential reading that goes step-by-step through the forms.

>> CFPB's Sample Disclosure Forms (access to all forms): Blank forms and completed examples for most situations you will encounter.

>> Standard Solutions' Annotated Sample Closing Disclosure: This is a copy of  the CFPB's sample completed CD for a fixed rate purchase, annotated with notes that answer common questions. Please check it out.

>> Standard Solutions' Frequently Asked Questions on completing the CD in SC Closing Center: This page will continue to be updated. (Last update 12/17/15)

>> ALTA has developed settlement statements designed to itemize all the fees and charges in the transaction. We have added similar settlement statements to SC Closing Center. The documents automatically pick up the information from your CD screens, so there is no additional data entry required.

>> Our Computer Specifications for running SC Closing Center with the TRID forms have recently been updated, particularly with respect to Windows XP computers.

>> Details on the CFPB's forms and allowed changes (coming soon).


September 14, 2015: We are continuing to update SC Closing Center with new forms and programs for the Closing Disclosure (CD) this week. Watch for more information.

If you don't yet have Closing Center there's still plenty of time. The CD is required to on all loan closings originated as of October 3rd with the TRID Loan Estimate. There's no reason to wait - you will still be able to produce the HUD1-1, and Closing Center will have all your current files and custom documents.


June 19, 2015: The Consumer Financial Protection Bureau has announced a two-month postponement for the new TRID rules and forms. Due to a regulatory error, a delay of at least two weeks was required. The CFPB concluded that it would be better to make it a two-month delay.

If you do not yet have SC Closing Center, until this delay you were in the group of stragglers we were going to have to upgrade at that last moment. Now you have a second chance to get ahead of the game and get Closing Center and the TRID Closing Disclosure well ahead of time.


May 1, 2015: Just a reminder that you should be making plans to upgrade to our new software, Standard Conveyancer Closing Center. It's got a new modern look, it's easy to learn and use, and it runs on all Windows 32-bit and 64-bit versions. Closing Center is your SC for the future. Along with Standard HUD & Title, it will be Standard's platform for the CFPB's new Closing Disclosure forms. Read more here.


April 15, 2015: Wells Fargo and Bank of America have announced they will be working with Closing Insight, a web portal through which they will exchange information and documents with settlement agents. Some of the larger software companies are working on integrating with Closing Insight, but it is absolutely clear that your settlement software does not need to be integrated for you to work with lenders who use this product. We will be looking at integration in the future, but for now we are focused on upgrading clients to our new software and readying the Closing Disclosure for this summer.


March 2, 2015: Standard's Closing Disclosure Solution will be available as an upgrade to our 64-bit compatible software, Standard Conveyancer Closing Center and Standard HUD & Title. Read more here. In either software you will be still be able to produce a 2010 HUD-1 or an "old" HUD-1 in addition to the Closing Disclosure.


January 12, 2015: Standard Solutions is hard at work on an upgrade to our software for the new Closing Disclosure Forms. There are three forms: one for refinances, one for purchases, and one for seller disclosures. We'll be posting and sending out further information throughout the months leading up to the implementation date.


October 30, 2014: Standard Solutions is continuing work on our new program for the 2015 Closing Disclosure. It's too early to have anything to show you, but we'll keep you informed as we move though next year toward the August 2015 implementation date. Read more here.


April 4, 2014: Standard Solutions has been following developments at the CFPB from the beginning, and we have already started planning for the August 2015 transition to the new Closing Disclosure form. This document will be five pages long, and will act as a combination HUD-1 and Truth-in-Lending form. Read more here.


 

CFPB's TRID Rule Implementation Home Page
CFPB Guide to the Loan Estimate and Closing Disclosure forms
All CFPB Sample Disclosure Forms
Mortgage Disclosure Team Blog

Get more info about our CFPB-compatible software, Standard Conveyancer Closing Center. Closing Center runs on 32-bit or 64-bit computers. You will need to upgrade from older versions of Standard Conveyancer to work with the new Closing Disclosure. After you upgrade you will still have all your closing files and custom documents.

Due to security issues, non-conformity with ALTA Best Practices, and the inability to update Windows XP to run Closing Center properly, we are not able to support Windows XP with the TRID forms.


Standard participates in legal and industry events so we have the knowledge to assist you with training and support. We can help you:

  • Understand the differences between the HUD-1 and the CD
  • Understand the layout and use of the CD
  • Learn how to prepare the new CD
  • Understand how the new CFPB rules affect practices and procedures

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