According to the instructions for the SSA-89, the form is required to be completed for each “reason for authoring consent.” The form has several choices that an SSN holder may select. In the context of a mortgage loan, the most obvious one is the “To apply for a mortgage” choice….
The Ohio Department of Commerce has announced an increase in the coverage amount for a residential mortgage to be subject to, or exempt from, a prepayment penalty under Ohio Rev. Code § 1343.011(C). In order to be exempt,…
New functionality to trigger additional copies of IRS Form 4506-C was announced last month. The fields that trigger new Request 2, Request 3, or Request 4 copies per borrower have been updated to list the following:
Print Borrower 1 4506 Request 2 (FI 152915)
Print Borrower 1 4506 Request 3 (FI 152916)
Print Borrower 1 4506 Request 4 (FI 152917)
Print Borrower 2 4506 Request 2 (FI 152918)
Print Borrower 2 4506 Request 3 (FI 152919)
Print Borrower 2 4506 Request 4 (FI 152920)
Print Borrower 3 4506 Request 2 (FI 152921)
Print Borrower 3 4506 Request 3 (FI 152922)
Print Borrower 3 4506 Request 4 (FI 152923)
Print Borrower 4 4506 Request 2 (FI 152924)
Print Borrower 4 4506 Request 3 (FI 152925)
Print Borrower 4 4506 Request 4 (FI 152926)
These new per borrower “Print” fields trigger additional 4506-T copies to print,…
On January 6, 2022, the Department of Veterans Affairs published Circular 26-22-02 regarding the updating of VA Form 26-0592, Counseling Checklist for Military Homebuyers (Cx3521). Circular 26-22-02 states:
“Each active-duty Service member who applies for a VA-guaranteed home loan must be counseled through the use of VA Form 26-0592,…
We have recently received some questions regarding certain mortgage disclosure forms that have special paper color or delivery requirements. These documents with unique delivery requirements include:
…
Two Recent Statements Regarding the Use of the LIBOR Index
Back in November 2020, the Board of Governors of the Federal Reserve System (FR), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) issued a joint statement on managing the LIBOR Transition. …
We are making changes to our FNMA Form 1003 (Cx20667) to align with updated guidance indicating how self-employment income should be reported on the URLA.
The following guidance related to self-employment income is provided in Selling Guide B3-5.01,…
Pursuant to our monthly audit of Federal Agency forms and to match the model forms made available here, we will be making the following changes to Cx23:
The IRS has published a new revision to tax form 4506 Request for Copy of Tax Return….
The year 2021 has seen some significant changes in notary laws as remote online notarization (RON) has become increasingly more common due to the pandemic. As a result, on January 1, 2022, we will be updating several state notaries for RON (among other changes)….
Pursuant to our monthly audit of Federal agency forms, we will be updating our copy of the Model Notice for Informed Consumer Choice Disclosure (Cx41) to match the latest version of the form (which can be found at: https://www.hud.gov/program_offices/administration/hudclips/forms/)….
