BB&T Issues TRID Announcement

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BB&T LogoHome lender BB&T announced in August that it will communicate with settlement agents (closing attorneys in South Carolina) through Real EC’s Closing Insight™ once the TRID rules become effective on October 3. The announcement stated that there will be no exceptions to the rule that settlement agents must be registered with Closing Insight™ to close TRID-impacted mortgage loans.*

Registration is required even if the closing attorney’s software company is integrated with Closing Insight™. We understand, however, that RealEC does not require registration for each lender. Once a closing attorney is registered once with Closing Insight™, additional registrations are not required.

As we have heard from other lenders, BB&T stated that beginning Oct. 3, Closing Insight™ will be the only means of communication for completing the Closing Disclosure. E-mail, fax and other delivery methods will no longer be used.

Initially, title orders will continue to be e-mailed from BB&T’s mortgage loan officer to the settlement agent, but BB&T states that it is in the process of changing the title order request process so that it will be communicated through Closing Insight™.

follow the leader aLike other large lenders, BB&T will generate and deliver the borrower’s Closing Disclosure. Settlement agents will generate and deliver Closing Disclosures to sellers and will provide copies to BB&T.

BB&T states that it will monitor TRID-required timeframes and will attempt to begin collaboration with settlement agents ten days prior to scheduled closing dates.

BB&T has established a new settlement agent web page at www.BBT.com/settlementagent for updates and frequently asked questions.

 

*The memorandum pointed closing agents here for more information about the registration process, and here for the fee structure for Closing Insight™. For further questions, settlement agents were directed to reach out to RealEC by e-mail at ProviderRegistration@RealEC.com or phone at 877.273.2532.

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One thought on “BB&T Issues TRID Announcement

  1. Susan Covington

    Elizabeth…make sure we are on board with Closing Insight and also see the BB&T FAQs. Thanks!

    Think green – please don’t unnecessarily print this e-mail

    PLEASE SEE CONFIDENTIALITY NOTICE BELOW.

    Susan B. Covington
    Law Offices of Susan B. Covington, P.A.
    1311 Augusta Road (for GPS purposes use 1311 Augusta Street)
    Greenville, SC 29605

    Phone: 864-421-0808
    Fax: 864-421-0309
    e-mail: Susan@susanbcovington.com

    CONFIDENTIALITY NOTICE: This message has been sent by an attorney. It may contain information that is confidential, privileged, proprietary, or otherwise legally exempt from disclosure. If you are not the intended recipient, you are hereby notified that you are not authorized to read, print, retain, copy or disseminate this message, any part of it, or any attachments. If you have received this message in error, please delete this message and any attachments from your system without reading the content and notify the sender immediately of the inadvertent transmission. There is no intent on the part of the sender to waive any privilege, including the attorney client privilege, that may attach to this communication. Thank you for your cooperation.

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