Under TRID 1.0, if no prepaid interest existed in a transaction, then “$0” was required to be disclosed Line F.03 of the Closing Disclosure, per the following:
“If interest is not collected for a portion of a month or other period between closing and the date from which interest will be collected with the first monthly payment,…
As previously announced, FHLMC has published revised private mortgage insurance (“PMI”) requirements which take effect on October 1, 2018. These requirements are summarized in the following documents:
While editing these documents to conform with FHLMC’s new requirements,…
As previously announced, the U.S. Department of Agriculture is updating form RD 3555-21 (which is provided pursuant to 7 CFR § 3555.107(i) and RD HB-1-3555) effective October 1, 2018. An advance copy was sent via email alerts and the latest version will be published on USDA’s eForms and GUS websites on October 1st….
Louisiana Civil Code CC 3352(A)(2) requires that, to be recorded, an instrument shall contain “the marital status of all of the parties who are individuals, including the full name of the present spouse or a declaration that the party is unmarried.”…
For loans secured by property in New York, whenever a mortgage banker or exempt organization takes points or a lock-in fee, the mortgage banker or exempt organization is required to issue a commitment in accordance with 3 NY-CCR 38.6. One requirement for this commitment,…
Corresponding with our enhancement to ConformX to support three or four trustees and settlors (as announced in Release Notes 4.8.4), we will be modifying the following generic documents to also support the listing and signatures of three or four trustees and settlors:
This support will apply to trusts,…
As previously announced, Washington State has enacted a new law which (inter alia) requires a disclosure for “consumer loans” which refinances a federal student education loan.
“In addition for all consumer loans made by a licensee that are a refinance of a federal student education loan,…
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)….
