Due to occasional confusion, Field 29952 “Simultaneous Second?” is being changed to “Loan is a Simultaneous Second/Subordinate Lien”. The current field name can be misunderstood as a question about whether there is a simultaneous second lien associated with the transaction as a whole,…
If there is more than one particular state statutory notarial certificate example (as there is for the state of Maine), Docutech’s current practice is to use the notary acknowledgment example from that state’s Real Property section rather than the example from that state’s Notary Public section….
Docutech has changed the manner in which the “Joint Credit” signature lines are enabled for electronic signing on the top of page one of the Uniform Residential Loan Application, Fannie Mae Form 1003, Docutech form Cx4193. Previously, Docutech utilized data points from the document to determine when these signature lines should be enabled. …
There are two notarial certificates required on Maryland security instruments. The first certificate is a notary acknowledgment wherein the notary public certifies that the borrower personally appeared before said notary public. The second certificate is an Affidavit of Consideration and Disbursement,…
Form HUD-92800.5B is provided pursuant to 24 CFR § 203.5(a) and FHA Single Family Handbook 4000.1 Pt. II, A.1.a.i(E)(2), A.3.c, A.4.e.i(B), A.5.d.x(B)(2), A.6.a.iv, A.7.b.xx, & A.8.i. On page 1 of the form, there is a “Commitment Terms” are, with an entry area for “Mortgagee.” Traditionally,…
Recently, the Vermont Department of Financial Regulation published revisions to Vt. Admin. Code 4-2-5 (alternatively cited as either Vt. Admin. Code 21 010 or Regulation B-98-1, though in the latter case, it will be changed to Regulation B-2018-2) affecting commitment letters (see http://www.dfr.vermont.gov/reg-bul-ord/form-content-and-timing-residential-real-estate-mortgage-loan-commitment-letters-2018)….
On August 24, 2018 Gov. Phil Murphy (D-NJ) signed into law A.N. 2035 (2018) which amends several provisions of the “New Jersey Residential Mortgage Lending Act” (N.J. Stat. Ann. §§ 17:11C-51 et seq.), including what types of fees mortgage brokers may charge and enhanced definitions of such charges under Ibid.…
The following announcement was posted today by the Internal Revenue Service (cited in relevant part):
“. . . On September 23, the IRS also will post an updated Form 4506-T and Form 4506T-EZ, Request for Transcript of Tax Return,…
TRID 2.0 provides new guidance on how a principal reduction should be disclosed on the Closing Disclosure, which (primarily) includes the following:
“A principal reduction that occurs immediately or very soon after closing must be disclosed in the summaries of transactions table on the standard Closing Disclosure pursuant to § 1026.38(j)(1)(v) [Lines K.04 through K.07] or in the payoffs and payments table on the alternative Closing Disclosure pursuant to § 1026.38(t)(5)(vii)(B) [“K….
One of the amendments to the TILA-RESPA Integrated Disclosure Rule (TRID 2.0) allows creditors to exclude recording fees and transfer taxes when determining if the total costs payable by the consumer are less than 1 percent for homebuyer assistance loans partially exempt under Regulation Z (see 12 CFR § 1026.3[h]). …
