230 RICR 40-10-3.5(A)(1)(a) and (B)(a)(2) require a net tangible benefit to the borrower for Home Loans. (A)(1)(g) and (B)(a)(6) require the use of Form 3 as “provided in a bulletin issued by the Department for that purpose”. The Department has published two forms,…
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,…
Ga. Code Ann. § 7-1-1014(3) requires mortgage lenders to disclose to each borrower that failure to meet every condition of the mortgage loan may result in the loss of the borrower’s property through foreclosure. This disclosure is required to be signed by the borrower at closing. …
On February 14, 2025, the State of New York passed a law amending Bills S7125A & A5073A which revised the flood insurance disclosure language in NY Real Property Law § 283. This law takes effect on May 15, 2025.
The flood disclosure language previously read:
“Please note that the flood insurance we are requiring you to purchase will only protect your creditor or lender’s interest in your property….
The Arkansas Legislature passed Senate Bill 240 which repealed Arkansas Code §4-93-104(a)(4). Subsection (4) previously required the adverse action notice to contain the Social Security number of the consumer. Now that subsection (4) has been repealed we are retiring Cx15905 for Arkansas which discloses the Social Security number….
Montour County, Pennsylvania, recently sent out a letter requiring space for recording information on all recorded documents. To accommodate this requirement, we have added a 2.5-inch margin on the bottom of the last page of all security instruments, assignments, and loan modifications when field 1714 “Property State”…
There are two notary certificates that print in Maryland security instruments:
…
The California Department of Financial Protection and Innovation recently announced that its Sacramento Office has been relocated, and all mail should be directed to:
651 Bannon Street, Suite 300
Sacramento, CA 95811
Consequently, Cx991 “CA Fair Lending Notice” and Cx16170 “CA Fair Lending Notice” have been updated to print the new CA DFPI address when:
(For Cx991) Field 18205 “Lender Is A Broker” = No
OR
(For Cx16170) Field 51790 “California License Type (Lender)” is one of the following:
…
To be more consistent with the information required in the “Parties” definitions in the Fannie Mae/Freddie Mac first lien security instrument model forms, Docutech has added the Trustee address to all second lien Deeds of Trust.
Small grammatical updates have also been made so that the references “Trustor,” “Trustee,” “Grantor,” “Grantee,” and “Lender” appear directly after the corresponding populated fields….
Cx16920 is provided upon request pursuant to R.I. Gen. Laws Ann § 44-30-71.3 and 280 R.I. Code R. §§ 20-10-1.7(H), 20-10-1.8(B), 20-10-1.10, 20-10-1.12(D). The document is based on the following forms published by the Rhode Island Division of Taxation on their website:
We have updated Cx16920 to match the latest versions of these forms….
