Wolters Kluwer Financial Services' Compliance Experts Introduce New Tools to Meet TILA-RESPA Implementation Challenges
TILA-RESPA Tool Kit Helps Lenders Navigate Complex Regulatory Changes
MINNEAPOLIS--(BUSINESS WIRE)--Wolters Kluwer Financial Services today announced the release of a tool kit designed to help lenders understand, manage and implement the new Truth in Lending Act and Real Estate Settlement Procedures Act requirements, which go into effect on August 1, 2015. At 1,888 pages long, TILA-RESPA has broad implications for lenders’ business processes, technology, policies and procedures, employee readiness and customer service.
“We believe these tools are an important resource to help lighten the compliance burden for lenders, so they have a sound understanding of the impacts to their business and can prepare to meet the requirements.”
The TILA-RESPA Tool Kit is comprised of recorded trainings, job aids, gap analysis and project management templates. Unlike standard educational webinars and training presentations available in the industry, all of the tool kit resources will be monitored and updated with industry changes through the regulation effective date. Pre-orders are now being accepted for the tool kit, which will be available as a series of downloads from Wolters Kluwer Financial Services’ TILA-RESPA Resource Center beginning in September.
“Lenders need a trusted source of information that is updated with industry changes on an ongoing basis,” said Kris Stewart, senior manager of Professional Services at Wolters Kluwer Financial Services. “We believe these tools are an important resource to help lighten the compliance burden for lenders, so they have a sound understanding of the impacts to their business and can prepare to meet the requirements.”
“Implementation requirements for TILA-RESPA go beyond the scope of anything we have seen in the industry to date,” said Art Tyszka, senior director and general manager of Residential Lending at Wolters Kluwer Financial Services. “Our customers have a need for more information and clarity around these regulations, so our compliance experts have developed these tools to provide meaningful guidance, help them prepare and limit the disruption to their business.”
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides more than 15,000 customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, ARC Logics®, AuthenticWeb™, Bankers Systems, Capital Changes, CASH Suite™, FRSGlobal, FinArch, GainsKeeper®, NILS®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2013 annual revenues of €3.6 billion ($4.7 billion), employs 19,000 employees worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.