Previously, we announced the passage of “The Taxpayer First Act”, its amendment to 26 U.S.C.A. § 6103(c), and indicated that MISMO® was in the process of creating a form which could be used for the following new provision:
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As previously announced, the Washington Department of Financial Institutions have finalized amendments to their regulations and have published a new version of their model “Rate Lock Agreement” (available at: https://dfi.wa.gov/rulemaking/consumer-loan-act-rulemaking).
Following our policy of duplicating forms published by Government authorities for disclosure requirements,…
Ill. Admin. Code tit. 38, § 1050.810 requires the following:
“Payment instructions shall be issued in time to reasonably assure receipt by the customer at least 15 days before the first payment is due and shall include, but not be limited to the following:
a) The name,…
A second set of global standard value mappings have been added to “Rescindable Loan” (Field 42761).
“Rescindable Loan” will continue to be set to “Yes” by default when all of the following conditions are true:
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The document coding logic that triggered the reference “See AP Table on page [2][4] for details” in the Monthly Principal & Interest row of the Loan Terms table of the LE and CD was separate from the logic triggering the Adjustable Payment (AP) Table itself….
Cx15312 is a duplicate of the Model B-3/H-3 Form provided by the Federal Trade Commission, Federal Reserve Board, and Consumer Financial Protection Bureau pursuant to the provisions of 15 USCA § 1681m(h) and 12 CFR §§ 222.74(d)(1), 1022.74(d)(1), and 16 CFR § 640.5(d)(1)….
Pursuant to a compliance review, we are updating the mappings for two fields that are associated with community property states. The first, “Property is in Community Property State” (Field 131699), is used to trigger a corresponding checkbox on the redesigned FNMA 1003 labeled: “The property is in a community property state.” The existing global field value mapping on “Property is in Community Property State”…
The Pennsylvania Department of Banking and Securities has announced in 49 Pa.B. 6554 (Nov. 2, 2019) that they would be adjusting the “base figure” from $256,023 to $260,404 (see http://www.pacodeandbulletin.gov/Display/pabull?file=/secure/pabulletin/data/vol49/49-44/1633.html). The “base figure” is defined in 41 P.S….
The Finance Commission of Texas adopted proposed amendments to various sections of 7 Tex. Admin. Code Pt. 80 & 81, as well as amendments to the “Conditional Letters” published within such codes and on their website (https://www.sml.texas.gov/ResidentialMortgageLoanOriginator/rmlo_mb_forms.html)….
On October 30, 2019 the CFPB published in the Federal Register final rules increasing the dollar amount of the Regulation Z exemption threshold outlined in 12 CFR § 1026.3(b)(1)(i) from $57,200 to $58,300 (see 84 FR 58020 [2019];…
