HPA Disclosures
While the Homeowner’s Protection Act (“HPA”; 12 USCA §§ 4901 – 4910) primarily governs the termination of private mortgage insurance (“PMI”) for certain transactions, special exemptions are provided to “protected State law[s]” (see Ibid.…
As previously announced, Chapter 5, Article 2, Title 23 of Indiana’s Code has been repealed and substantively replaced with new Article 2.5, Title 23. This change includes the repeal of Indiana’s lock-in agreement requirements (Ind. Code Ann….
As previously announced, provisions of Title 55 of Virginia’s Code are being transferred to a new Title 55.1, causing the statutory requirements for the following documents to change as follows (note: only the requirements impacted are listed):
Of these documents,…
As previously announced, sections of Article 61 of Title 12 of Colorado’s Statutes will be re-codified under Article 10 of the same Title on October 1, 2019. This change affects the following documents (note: only the statutes relevant to the re-codification are listed):
While we will be updating the citation on our “CO Commitment Agreement” (Cx17939) for the October 1st change,…
In an email dated August 28, 2019 FNMA announced that they had “updated the summary document for the Multistate Fixed-Rate Note 3200 to include an Authorized Change for properties located in Alabama.” We have reviewed this change, which now permits lenders to include the following as the last sentence in Section 6(A) of Form 3200:
“In no event will any late charge under this Section 6(A) exceed $100.”
We are planning to incorporate this change and details of any modifications we make will be announced on our website (https://compliance.docutech.com/)….
“’What do you want?’ the ape asked at last.
‘Nothing,’ said Ervic.
‘You may have that!’ retorted the ape.” (Glinda of Oz, L. Frank Baum)
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Section 309 of the Economic Growth,…
The “Economic Growth, Regulatory Relief, and Consumer Protection Act” (132 Stat. 1296 [2018]) implemented 38 U.S.C.A. § 3709(b) & (b)(1), which requires that a VA guaranteed-loan which is refinanced “may not be guaranteed or insured . . . unless the issuer of the refinanced loan provides the borrower with a net tangible benefit test.”
At the time of enactment,…
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 concerning the correlation between Interest Rate Reduction Refinance Loans (“IRRRL”) and the “Economic Growth, Regulatory Reform, and Consumer Protection Act” (113 Stat….
In an email sent by the USDA Office of Rural Development dated August 20, 2019 (Subject: “USDA Final Rule – Single Close Construction, Elimination of Interest Rate Cap”), the following revision was announced:
“Form RD 3555-21, with revision date of October 2019,…
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 concerning the correlation between Interest Rate Reduction Refinance Loans (“IRRRL”) and the “Economic Growth, Regulatory Reform, and Consumer Protection Act” (113 Stat….
