Representative Engagements

Truth in Lending and RESPA Integrated Disclosure (TRID) Compliance Monitoring

With all the challenges and nuances of the new Know Before You Owe (TRID) rules, management requested CrossCheck perform quarterly monitoring of its compliance with the TRID requirements. We established a quarterly process to select and review a sample of the bank’s new loan production, stratifying the sample for higher risk issues and out of tolerance situations that could result in expensive customer reimbursements. We identified the root causes of many of the issues, and recommended operational enhancements to reduce recurrence of errors. Management used the trending analysis reports we provided to track progress over time, and was able to make the operational changes it needed to address compliance going forward.