Questions buyers ask · Mortgage
What is the TRID 3-day rule, and how do lenders meet it?
TRID has three 3-day clocks. The Loan Estimate goes out within 3 business days of the application, a revised Loan Estimate within 3 business days of a changed circumstance, and the borrower must receive the Closing Disclosure at least 3 business days before closing. Callvu starts each clock when the triggering event is recorded and delivers on time.
The problem today
Why the 3-day clocks are missed
Each clock starts on an event that is easy to miss: the sixth piece of application information, a rate lock extension mentioned on a call, a change to the loan product late in the file. The event is noticed in one system and the disclosure is issued from another, so the clock runs while the handoff waits. A late Closing Disclosure, or one that has to be reissued, moves the closing date.
How it works
How Callvu runs the TRID clocksFive moves, one process.
The clock starts on the event
The application, the changed circumstance or the closing date is recorded once, and each clock starts with its due date.
Complete before it moves
The information each disclosure needs is collected and checked before it goes to the person who issues it.
Delivered on a secure screen
The borrower receives and acknowledges the disclosure on a screen the process controls, with the time recorded.
Changes that restart the wait are caught
A change to the APR, the loan product or a prepayment penalty before closing triggers a new disclosure and a new waiting period.
On the record
Every disclosure, date and acknowledgment is written to the loan origination system.
Runtime enforcement
Compliance enforced while the work runsOn every step, every time.
Callvu checks every regulation and your own policies on every step while the work runs. A step that fails a control does not run. Every run produces a Decision Trace and an Audit Trace, pushed in real time to your GRC system, so the examiner sees the record of what happened, not a reconstruction.
Proof
Live in production.In weeks, not months.
Community Bank of Mississippi runs TRID loans on Callvu: the completeness check before Processing, the handoff between teams, and the TRID Loan Estimate and changed-circumstance clocks.
Bank Leumi digitized every loan application and servicing workflow in six months.
Questions
What buyers ask next,answered plainly.
Does Callvu replace our loan origination system?
No. Callvu runs the regulated process around it and writes every disclosure, date and acknowledgment back by API.
Which business day count does Callvu use?
The one each rule requires. The Loan Estimate counts days your offices are open; the Closing Disclosure waiting period counts every day except Sundays and federal holidays. Both are set as policies and applied on every loan.
How long does it take to go live?
Weeks. Callvu builds the process for you.
Bring the process that costs you most.
We build it, train your team and stay with you through launch. You are live in weeks.