Cognitive Options Group Announces a “TRID Regulatory Expert Resource Desk” for the New Mortgage Disclosures That Take Effect August 1, 2015

CFPB new mortgage disclosures take effect on August 1, 2015, are your systems in place? Cognitive Options Group announces a "TRID Regulatory Expert Resource Desk" will provide dedicated support for our clients and their partners.

Denver, CO, June 20, 2015 --( Cognitive Options Group, a national consulting firm specializing in Compliance and Due Diligence Reviews based in Lakewood, Colorado has announced that they are in the final stages of preparing for a host of TRID solutions to the financial services industry.

All mortgage lenders, soon to be called Creditors, are going to be introduced to a brand new risk environment called TRID. Lenders know the existing TILA and RESPA disclosures, were not always a disclosure violation and did not result in a private right of action using the disclosures made on the Good Faith Estimate (GFE) and the HUD-1 Settlement Statement (HUD-1). As of August 1, 2015 with the CFPB integrated disclosure rules, it will make every closing in which these new disclosures are used a potential lawsuit.

Michael S Richardson the Managing Director stated, “Our Cognops TRID Plan B services and products provide comprehensive, independent third-party reviews and services that will evidence a Best Practice compliance for lenders with new TRID regulations. Using our third-party products, reviews and services should provide stronger reliability for the secondary market investors and regulators, than if the TRID reviews are performed by a lender's internal personnel and LOS systems.”

The TRID Regulatory Expert Resource Desk provides dedicated TRID Support with Compliance Experts for LO’s, Brokers, Realtors and Settlement Agents. The resource desk is a private label semi customized solution and acts as a Creditors advocate with the ability to answer 100’s of general TRID questions.

Their TRID Regulatory Expert Resource Desk is a primary contact for all external calls in regards to TRID support questions and issues arising from the regulation. The Resource Desk is to support, educate and train decentralized staff, real estate agents and others to diminish recurring future TRID support requests and make each party to the transaction feel well supported and comfortable with the new TRID regulations.

“Over the last few years a large percentage of lender’s compliance departments have already been working overtime, our TRID Regulatory Expert Resource Desk will assist our clients by answering critical questions during times when they are not available,” stated Richardson, and also “Real Estate Agents, Closing Agents, Loan Officers and other parties to the transaction are going to expect to speak with a knowledgeable person immediately about TRID rules, not to leave a message, our Resource Desk is to assist in minimizing complaints during the implementation period.”

Cognops Expert Resource Desk will maintain extended hours as needed by each client. By offering a full service, external support to provide the general answers, to all industry professionals related to the transaction, the client will demonstrate value and build credibility, during this complex implementation period of TRID. This could take up to 180 days before the majority involved in each individual transaction comprehends the new process in closing a mortgage transaction.

About Cognitive Options Group, LLC.

Cognitive Options Group is based in Lakewood, CO and utilizes a variety of proprietary software tools to assist financial institutions determine if loans have been underwritten to compliance, risk tolerances, guideline and loan program requirements within GSE’s, FHA, QM, TRID, Federal, and State Regulations. Cognitive Options Group also provides companies with operational, transactional, and professional compliance services.

We provide entire or specific outsourcing of risk management for our clients’ regulatory compliance function and its requirements. We provide a complete regulatory compliance program that includes risk assessments comprised of program development, implementation, and administration. With our Cognops Vendor and Compliance Credentialing system (CVCC) we supplement our clients’ internal resources to discover, review and provide a Best Practices solutions to specific regulatory compliance issues. We serve as an independent assessor of mortgage compliance procedures, to identify challenges, and propose revisions to policy and procedures.

To facilitate our client’s success, we believe we must rigorously uphold our core values. We maintain these standards consistently so you can always trust that our teams are more than a collection of individual perspectives. They represent one mindset…that of Cognitive Options Group, LLC.

For more information on Cognitive Options Group, LLC please visit or call us at 720-370-9090.
Cognitive Options Group LLC
Michael S Richardson
Mary Howard 720.370.9090 X302