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.
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