TRID Emily Martinez, Training Specialist 2015 Calyx Software  POINT Point® helps you get the job done faster and more efficiently TILA-RESPA Integrated Disclosures in Point

TRID 2 Legal Disclaimer: The information presented is confidential and proprietary to Calyx Software (“Calyx”) and may not be disclosed without the permission of Calyx. The purpose of this PowerPoint presentation is to provide information, rather than advice or opinion. It is accurate to the best of the speaker’s knowledge as of the date of the presentation. To the extent that this presentation contains any examples, please note that they are for illustrative purposes only and any similarity to actual individuals, entities, places or situations is unintentional and purely coincidental. In addition, any examples are not intended to serve as legal advice. No part of this presentation may be modified, printed, or presented without the permission of Calyx. Calyx and Calyx Software are registered trademarks of Calyx Technologies, Inc. Copyright © 2015 Calyx Software. All rights reserved

TRID TILA-RESPA Integrated Disclosures in POINT 3 T ruth-In-Lending Act R eal Estate Settlement Procedures Act I ntegrated D isclosures

TRID TILA-RESPA Integrated Disclosures in POINT 4 August 1,2015 Effective for loan applications taken on or after Saturday, August 1, 2015 Current DisclosureNew Disclosure Good Faith Estimate & Initial Truth-In-Lending Statement GFE & TIL Loan Estimate Final Truth-In-Lending & Settlement Statement TIL & HUD-1 or HUD-1A Closing Disclosure KEY: The ruling is much more complex than this chart illustrates …

TRID TILA-RESPA Integrated Disclosures in POINT 5 The Rule Is Massive: … and there’s more … Loan Applications already accepted prior to this date must continue on current forms. Current forms must be used as applicable for excluded products. However, certain provisions are effective on this date regardless of application date: Pre-application written estimates Upfront fee restrictions Upfront restrictions on requiring verifying information State law preemption

TRID TILA-RESPA Integrated Disclosures in POINT 6 August 1, 2015 The coming changes involve much more than simply learning to use two new forms The ruling impacts your processes from Origination through Closing  Timing  Delivery  Workflow  Policies  Procedures

TRID TILA-RESPA Integrated Disclosures in POINT Are you prepared? On Tuesday, March 3, CFPB Director Richard Cordray appeared before the House Financial Services Committee to answer questions regarding the Bureau’s Semi Annual Report to Congress and the President, which it published on December 4, The Bureau has no plans to push forward the August 1, 2015, effective date for the TILA/RESPA Integrated Disclosures Rule. Director Cordray indicated that CFPB examiners had no intention of “bringing the hammer down on the first day,” but he repeatedly emphasized that Institutions will have had 21 months from the date of the rule’s publication to prepare. 7

TRID TILA-RESPA Integrated Disclosures in POINT... More to think about... The Lender is responsible for the content and timing of the Loan Estimate and the Closing Disclosure Most of the emphasis revolves around the creditor’s liability. The role of the settlement agent will change The LE and CD are Dynamic …. 8

TRID TILA-RESPA Integrated Disclosures in POINT 9 While the main emphasis of our 9.2 software update is to provide the new Loan Estimate and Closing Disclosure functionality, it includes several enhancements.

TRID 10 Point 9.2 Release Summary Loan Estimate Closing Disclosure Worksheet Closing Disclosure TIL screen updated Agent license numbers Time Zone Form Update

TRID TILA-RESPA Integrated Disclosures in POINT Point and PointCentral Point allows you to set up default information in templates to populate your loan files. Manage your business Help with your workflows Save Time Reduce Errors Ensure completion of commonly missed fields 11

TRID TILA-RESPA Integrated Disclosures in POINT 12 Templates Located in the Navigation Panel Select a Template Category o  Report & Marketing o  Loan Program o  Closing Cost Scenario o  Prospect Master o  Borrower Master o  Data Import o  Data Export o  Custom Forms/Letters/

TRID TILA-RESPA Integrated Disclosures in POINT Closing Cost Scenario Templates allow fees that are standard for loan types, investors or lenders to be defaulted into the loan file Existing Calyx Customers – revise Closing Cost Scenario templates to conform to fee naming conventions New Calyx Customers – will find the templates enormously helpful 13

TRID TILA-RESPA Integrated Disclosures in POINT Closing Cost Scenario Templates flow to the Fees Workshee t 14

TRID TILA-RESPA Integrated Disclosures in POINT Current Data Flow: Fees Workshee t Good Faith Estimate New Data Flow: Fees Worksheet Loan Estimate (LE) 15

TRID TILA-RESPA Integrated Disclosures in POINT Loan Program Templates Currently default to the Truth-In-Lending. This will remain the same – Calyx will support the old and the new disclosures 16

TRID TILA-RESPA Integrated Disclosures in POINT Borrower Master Templates allow common fields to flow through to all applicable locations throughout each loan file, thus helping to reduce errors. What is common? What can be defaulted? 17 Some Ideas: Late Charge Fields Prepayment Fields Loan Checklist Loss Payee

TRID TILA-RESPA Integrated Disclosures in POINT SOLUTIONS FOR COMPLIANT DISCLOSURE PROCESSES: Monitoring, Supervision, Training and LOS capability Recommendations: Begin training well before the August 1 st effective date Collect all loan data in your LOS to prevent delaying issuance of the LE Use PointCentral Business Rules as controls to help you remain compliant Ensure all of your systems are integrated with your policies and procedures Have systems in place to monitor transactions – formulate your reports Decide what processes you’ll use to document compliance 18

TRID TILA-RESPA Integrated Disclosures in POINT SOLUTIONS: Monitoring, Supervision, Training and LOS capability CALYX SOFTWARE TOOLS: Data Folder Structure Security Access Rights for users and user groups Templates Business Rules Reports Interfaces Data Storage E-sign Document Exchange 19

TRID TILA-RESPA Integrated Disclosures in POINT 20 Lenders - Prepare Now  Communicate with brokers, lenders and investors  Determine who will provide initial and revised LE’s  Decide your methods of delivery to your borrower(s)  Retool processes and workflows for new application definition, timeline, fees and other information  Decide who will prepare and provide the Closing Disclosure  Decide how information will be exchanged between you and your settlement Agent  Determine the names for your fees  Plan your timing and begin utilizing the timing now  Decide on your system of record for your record keeping

TRID TILA-RESPA Integrated Disclosures in POINT CALYX SOFTWARE - already preparing our customers for the changes. Our website, features a dedicated page for TRID updates and FAQ’s. Sign up for our updates Access the FAQ’s Stay informed 21

TRID 22 Good News for Calyx Point Users The steps for creating the LE and the CD in a Point file will remain virtually the same as the current steps for creating the GFE and TIL The Fees Worksheet and the Truth-in-Lending screens will remain in control of the data that populates the Loan Estimate and the Closing Disclosure The Fees Worksheet and TIL screen will continue to be the initial data entry points for the data that will flow to the required disclosures Data entered to the Fees Worksheets and TIL screens is routed to the required data points in the Loan Estimate and the Closing Disclosure

TRID Emily Martinez, Training Specialist 2015 TILA-RESPA Integrated Disclosures in POINT TILA-RESPA Integrated Disclosures in POINT The Help You Need Point User Guide – embedded in your software Point User Guide – embedded in your software F-1 Help from any screen F-1 Help from any screen Calyx Customer Support Calyx Customer Support

TRID Emily Martinez, Training Specialist 2015 TILA-RESPA Integrated Disclosures in POINT TILA-RESPA Integrated Disclosures in POINT Thank You! Thank You!