Updating Easy HUD: TILA RESPA Compliance

New CFPB final rule means big changes in closing forms effective August 2015 - You are covered with EasyCDF, as it will be automatically updated.

Due to business and technical reasons, many of the current real estate closing software providers will not be updating their programs. This could mean your firm may be using a closing software which may not be updated with the most recent changes.

For over 30 years, Easy Soft has helped settlement agents’ process their real estate closing settlements efficiently and error-free. We are on top of all the changes – in both forms and procedures – and we are already updating Easy HUD with the 2015 mandates now.

Why Should I Update Now?

The time to get ready for these changes is now, during the lull and before the next real estate season peaks this summer. This is not a project you want to tackle at the last minute. As an Easy HUD subscriber, you will be ready. Automatically. Because when you subscribe to Easy HUD, program updates, training on new forms, and all the support you might ever need are always absolutely free.

Exclusive Offer
Take advantage of our exclusive offer and get 30 days free use of Easy HUD. When you purchase Easy HUD, you will automatically be updated to EasyCDF. We’re updating Easy HUD with the 2015 revisions now, so you’ll move smoothly through the transition to the new forms – without any extra work or headaches:

  • TILA-RESPA Compliance
  • Automatic Calculations
  • Closing Ledger
  • Check Printing
  • Electronic 1099-S

“I rely on EasyCDF to accurately and completely develop correct and conforming settlement statements in my real estate practice. I have found the application to be carefully constructed to meet the exacting specifications of new TILA-RESPA compliance, as well as my needs for a fast and clear process to develop the key closing document for my clients. I have a piece of mind that the changes to the CFPB Rules for 2015 will be automatically integrated into my closings with Easy HUD.”
- William C. Mack, Law Offices of William C. Mack, N

Top 10 Questions and Answers

How will EasyCDF change to accommodate the new real estate closing forms?
A new version of EasyCDF will be released soon that contains the new Loan Estimate and Closing Disclosure forms that have been developed by the Consumer Financial Protection Bureau. You will still have the same easy interface and streamlined closing process you are used to, along will full compliance with the new forms and rules.

When will the new version of EasyCDF be available?
We can't give a firm date right now because we want to be sure that the changes to Easy HUD are as robust and easy to use as you have come to expect. We are working hard and will release the new version well before the August 1, 2015 deadline so you have plenty of time to get used to the software before the new forms become required.

Will EasyCDF help me adjust to the new Closing Disclosure delivery schedule?
We can't give a firm date right now because we want to be sure that the changes to Easy HUD are as robust and easy to use as you have come to expect. We are working hard and will release the new version well before the August 1, 2015 deadline so you have plenty of time to get used to the software before the new forms become required.

What kind of software training will EasyCDF offer?
Keep an eye on our blog for ongoing tips on the upcoming changes and how they will affect your real estate business. Every month we will conduct education driven webinar to prepare you for the new changes and how EasyCDF will work. Finally we will be updating our biweekly Easy HUD webinars to include information on the changes in Easy HUD and real estate closing forms. All of this training is available for free.

How much will the upgrade cost?
If you are a current customer, you will be upgraded to EasyCDF free of charge. For those that currently don’t use Easy HUD, we urge to purchase Easy HUD License now so they can automatically be upgraded to EasyCDF when the time comes.

I fill out my HUD-1 forms manually. Is this a good time to switch to EasyCDF?
Absolutely! Many real estate professionals have systems that work and are reluctant to adapt to a new model, even if it will be faster in the long run. However your workflow is already going to be disrupted by the changes required by the new CFPB forms, so this is an ideal time to start using closing software. In fact you will probably find it easier to adapt to using the new forms through EasyCDF rather than doing it manually.

How will EasyCDF help me fill out the Loan Estimate and Closing Disclosure forms?
This will the biggest change to closing forms in decades and it's going to be a difficult transition, especially to people who have been filling out the HUD-1 for years. EasyCDF's intuitive interface makes it easy to enter all the information you need, and then you can let the software put the numbers in the right places on the form.

How will these changes affect Easy HUD's optional modules?
Since the changes affect the forms themselves, there will be few if any changes to the Easy HUD modules. You still need to file 1099-S forms so you will appreciate the simplicity of one-click filing through our 1099 service. The advanced printing module will have a different list of forms to print, but will still be easy to use. The ledger and documents modules pull financial information from the case file rather than from the forms themselves, so shouldn't be affected by the new forms.

Are there alternatives to Easy HUD?
You can find other real estate closing programs, and new players may come into the market in response to the upcoming changes. However when looking at alternatives, don't forget the key features that make Easy HUD such a popular choice:

  • Free software updates
  • Productivity tools like a task list and document manager
  • Electronic1099-S filing
  • Disbursement ledger and check printing
  • Unlimited live technical support for current subscribers
  • And so much more!

Will I need to upgrade my computer to handle the new software?
The updated EasyCDF should run just as well on your computer as the current version does.

Quick Links

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