As previously announced, there is a new law in Georgia which requires the tax parcel identification number(s) (“PIN”) at the top of the first page of any “instrument by which the title to real property or any interest therein is conveyed,…
On July 18, 2018 FNMA published Lender Letter LL-2018-03, which provides for revisions to FNMA’s requirements concerning PMI termination, as currently found in FNMA 2018 Servicing Guide B-8.1-04 and F-1-02 (see https://www.fanniemae.com/singlefamily/news). Servicers are required to implement these changes by March 1,…
Under Vermont law, a person wishing to “obtain” a credit report on a consumer must obtain the consent of the consumer prior to obtaining such credit report (see Vt. Stat. Ann. tit. 9, § 2480e & Vt. Admin. Code 3-2-110:CP 112.03)….
FHA Negative Equity Positions Disclosure (Cx15200), was provided pursuant to the provisions of FHA ML 2014-23 & 2010-23. According to Transmittal: Handbook 4000.1 (06/15/15), both MLs were superseded, and there is no longer a provision in the Handbook which requires the disclosures in this document….
On July 10, 2018 the Federal National Mortgage Association (“FNMA”) introduced “Enterprise-Paid Mortgage Insurance” (“EPMI”) as an alternative to the more traditional borrower-paid and lender-paid private mortgage insurance plans (“BPMI” and “LPMI”, respectively). FNMA is rolling-out EPMI in a pilot program for testing,…
As previously announced, NC HB 852 (2017) was recently passed which (inter alia) amends N.C. Gen. Stat. Ann. § 47-17.1 to state the following:
“The register of deeds of any county in North Carolina shall not accept for registration,…
In their “Daily Digest Bulletin” dated July 10, 2018 the California Department of Business Oversight announced the following:
“The DBO has posted to its website translated mortgage disclosure forms in Spanish, Chinese, Tagalog, Vietnamese, and Korean. These forms can be used by a financial organization that negotiates primarily in any of the above languages the [sic] modification of any of the terms of a loan or extension of credit secured by residential real property….
The Illinois Private Mortgage Insurance Disclosure (our Cx1311) is required to be given when PMI is required for a “principal single family residence of the mortgagor” (765 ILCS 930/5). However, Section 930/30 says:
If federal law is enacted governing or otherwise regulating private mortgage insurance,…
Docutech is updating a few generic private mortgage insurance (PMI) disclosures to correspond with a ConformX system enhancement that allows allows PMI to be charged during the construction phase. The Homeowner’s Protection Act (HPA) requires certain PMI disclosures in connection with a residential mortgage transaction—including construction loans….
On June 28, 2018 Gov. Jerry Brown (D) signed into law CA AB 375 (2017), enacting “The California Consumer Privacy Act of 2018”, which will be codified at Cal. Civ. Code §§ 1798.100 et seq. (see http://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=201720180AB375)….
