This is a reminder that the updates outlined in a previous announcement will take effect on August 30, 2019. These changes were originally scheduled to take effect on March 1, 2019, but FNMA postponed their mandatory date to September 1,…
The Inter Vivos Revocable Trust Rider (Cx21131) has been modified to better reflect the individual Borrower and Non-Purchasing Entity (NPE or non-borrowing spouse) signature lines printing on the security instrument and other riders to security instrument.
The following settings are now reflected in the individual signature area of Cx22131:
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As announced on our website, the VA published VA Circ. 26-19-22 (available at: https://www.benefits.va.gov/HOMELOANS/resources_circulars.asp) providing preliminary guidance from the VA and the correlation between Interest Rate Reduction Refinance Loans (“IRRRL”) and the “Economic Growth,…
We have updated HUD Form 92541 “Builders Certification” (our Cx3971) to mirror the new revision of the form provided by HUD on their website located here. The updates to Cx3971 consists of minor grammatical and formatting changes throughout the document….
On August 8, 2019 the VA published VA Circ. 26-19-22 (available at: https://www.benefits.va.gov/HOMELOANS/resources_circulars.asp) which provides preliminary guidance from the VA and the correlation between Interest Rate Reduction Refinance Loans (“IRRRL”) and the “Economic Growth, Regulatory Reform, and Consumer Protection Act” (113 Stat….
On August 8, 2019 FNMA and FHLMC published a joint announcement (available directly at: https://www.fanniemae.com/content/notification/notification-urla-announcement-august-2019) stating that they will be removing the “Language Preference” and “Homeownership Education and Housing Counseling” questions from the new URLA and including them in a new “voluntary consumer information form” which is under development….
ConformX DC Mortgage Disclosure Form (Cx13354) is being provided in DC Initial Disclosure packages for ARM loans with a loan term of 30 years, as required by D.C. Code Ann. § 26-1113(a-1). Although the text of the form does not intuitively apply to HELOCs,…
The VA is in the process of publishing revisions to each chapter of their “Lender’s Handbook” (see https://compliance.docutech.com/2019/02/13/compliance-news-va-planning-to-rescind-outstanding-circulars/ for details) and, on July 30, 2019 they revised Chapter 9 (“Legal Instruments, Liens, Escrows, and Related Issues”).
Among other changes,…
On July 22, 2019 the VA updated Chapter 13 of their “Lender’s Handbook” with the following relevant delivery requirements for the “Notice of Value”, which is required to be sent by the lender to the borrower after an appraiser has submitted the appraisal report through WebLGY:
“Once the SAR [Staff Appraisal Reviewer] has determined the appraisal report is acceptable to VA,…
This document is provided pursuant to Ga. Comp. R. & Regs. r. 80-11-1-.01(9) and, since November 2015, has only been provided for loans not subject to 12 C.F.R. § 1026.19(e) & (f), due to amendments which were made at that time which included the following clause:
“This disclosure requirement may be satisfied by complying with a substantially similar disclosure as required by federal law.” (Ibid.…
