Even a correct decision is wrong when it’s taken too late.”
Do you do a lot of research before deciding on purchases or lifestyle choices? It can be difficult to take a leap of faith on major, life-altering choices. But waiting too long can be the real wrong decision.
There’s value in combing over details, ensuring you have the information you need. But in some situations, choices need to be made fast, or you’ll be left behind—or worse, go over the proverbial guardrail. You have to be able to react quickly and accurately when necessary, so being able to discern the urgency of the situation is key.
Today’s mortgage industry is itself facing pressing decisions. Lenders need to be able to create consensus on the loan file, and prove to regulators that consensus actually occurred. TRID, the mortgage disclosure rule enacted last October, demands this.
Yet often lenders and title agents in the loan process cannot prove consensus. Their technology doesn’t integrate with other loan participants’ technology, so they can’t prove that their loan was done right from start to finish, and thus could face a regulatory audit—not to mention the inability to offload loans to the secondary market.
Make the right decision before your company is audited, or your bottom line will suffer. Contact ATS Secured today to learn how we can help you prove consensus.