Back in May of this year, the Federal Housing Finance Agency (FHFA) published their “Language Access Multi-Year Plan” for providing support to borrowers with limited English proficiency (“LEP”; see our announcement about this event at: https://compliance.docutech.com/2018/05/10/compliance-news-fhfa-outlines-plans-for-language-access-support/).
Today,…
As previously announced, the IRS has updated IRS Forms 4506-T and 4506T-EZ in order to better protect the private information of taxpayers (see https://www.irs.gov/newsroom/coming-soon-a-new-tax-transcript-to-better-protect-taxpayer-data for details).
As a result of these updates, we will be updating our copies of Form 4506-T to match the latest updates. …
Cx1024 is provided due to the provisions of Mass. Gen. Laws Ann. ch. 148, §§ 26E & 26F and Mass. Regs. Code tit. 946, § 7.14, the latter two sections requiring the following:
“All buildings or structures occupied in whole or in part for residential purposes and not regulated by sections twenty-six A,…
By: Timothy A. Raty, Sr. Regulatory Compliance Specialist
Per 12 CFR § 1026.37(o)(4)(i)(A), the dollar amounts required to be disclosed in the “Lender Credits” row of Section J of the Loan Estimate (“LE”) are required to be rounded to the nearest dollar….
On September 25, 2018 FNMA distributed an email which contained the following news:
“Updated model construction loan forms
We’ve revised our model construction loan documents (Forms 3734, 3735, 3737, and 3738) and related summary pages to remove references to renovation loans….
Per Minn. Stat. Ann. § 47.206(2):
“A lender offering borrowers the opportunity to enter into an agreement in advance of closing shall disclose, in writing, to the borrowers at the time the offer is made: . . .the steps required to process,…
Maryland Real Property §3-501 requires that all instruments recorded in Montgomery County have:
…
Previously, we had announced changes to these documents as part of FHLMC’s new servicing requirements concerning the cancellation of private mortgage insurance (see https://compliance.docutech.com/2018/08/10/document-updates-california-connecticut-and-washington-pmi-disclosures-cx999-cx1029-and-cx18541/). The previously announced changes were for grammatical purposes and we are now changing these documents to align with FHLMC’s new requirements,…
As previously announced, the Vermont Department of Financial Regulation has revised Vermont’s commitment letter administrative requirements. We provide Cx4671 for these requirements, as well as those of Vt. Stat. Ann. tit. 9, § 103.
Changes to Cx4671
Based on the revisions,…
Cx3848 is provided pursuant to S.C. Code Ann. §§ 37-3-404(2) & 37-10-102(a) and is a duplicate of the model “Attorney/Insurance Preference” form published by the South Carolina Department of Consumer Affairs on their website (https://www.consumer.sc.gov/Regulatory/programs/MortgageBroker/Pages/MortgageBrokerForms.aspx).
This form is divided into two sections,…
