This year’s National Settlement Services Summit (NS3) will be featuring many regulatory and compliance experts including the Mortgage Bankers Association (MBA) Vice President and Regulatory Counsel Ken Markison. He is a panelist on the “Navigating the New Transaction: From LOS to Settlement” professional development session dealing with the processes involving TRID compliance.
Joining Markison on the panel are RealEC Technologies Client Delivery and Regulatory Strategy Executive Gerardo Caceres, Westcor Land Title Insurance Co. Executive Vice President Scott Chandler, Consumer Financial Protection Bureau (CFPB) Originations Program Manager Brian Webster and SoftPro Director of Industry Relations Leslie Wyatt.
In his position at MBA, Markison works on virtually all regulatory issues facing the lending industry. Since the TRID rule was issued, he has been working with MBA members, title and other industry representatives to assist in efficiently implementing this important rule for consumers.
From the agents Markison has worked with, he says they are engaged in the issues raised by TRID. Of course, we have not seen most of the agents operating today. “I expect there will be varying degrees of readiness across the settlement services industry because of this enormous change.”
“I believe it is essential that settlement agents fully understand the new rules and the demands they place upon lenders so they can be active and reliable partners in serving consumers,” Markison said.
In this session Markison and the panelists will provide a 360-degree view of the new transaction, highlighting the responsibilities of settlement services providers, as well as the expectations and challenges they may face. With the title, mortgage, technology and regulatory arenas represented, the discussion will bring a view of TRID compliance from the beginning to the end of the homebuying transaction.
“(Agents) will have to change their business processes, train their people and invest in systems changes to keep up,” Markison said of the challenges ahead with the new transaction.
To get more information on the 2015 National Settlement Services Summit in Atlanta June 8-10, including the agenda and a list of speakers, click here. You can register for NS3 online or click here to get information on how to register via mail, fax or phone.