REcolorado’s partnership with RatePlug allows all of our members access to this valuable resource. RatePlug is a new tool integrated in Matrix that allows you to provide real-time, property-specific mortgage payment and product information from your lending partners to homebuyers via the client portal. This is a complimentary benefit to REcolorado members, so there is no cost to you or your clients! Read about the latest updates with RatePlug and find out more about our partnership by reading our Professionals Blog.
Are you ready for TRID? RatePlug is.
With all the hype and media coverage of TILA-RESPA Integrated Disclosure (TRID), you might be thinking the world might possibly stop revolving on Saturday, October 3rd when the rule goes into effect. All kidding aside, this ruling which was created to create clarity for consumers and promote compliance with existing TILA and RESPA laws, has caused a lot of anxiety within the industry as companies scramble to make adjustments to their systems, forms and procedures to meet the deadline which had been EXTENDED a few months. Some industry news sources even state that up to a third of companies are still not ready for the new requirements.
Knowing what the TRID rules are and how they impact Real Estate Agents is very important. NAR has created an overview tailored for real estate professionals which is available at http://www.realtor.org/topics/trid-tila-respa-integrated-disclosure.
It is also very important for you to know that the third party tools and services available through your MLS system are 100% compliant as well. RatePlug, the industry leader in melding real-time financing information with MLS property listings, has updated our Program to adhere to all applicable industry regulations including TRID, FTC-MAP, UDAP, etc.
To learn more about the RatePlug Program, which is available at no additional cost to MLS members, click here.