After review, Docutech has updated Cx12387 “Enhanced Prepayment Fee Addendum” and Cx12388 “Enhanced Prepayment Fee Rider” to better match the “Borrower’s Right to Prepay” section of the Notes for adjustable rate and interest only loans.
The changes to the “Borrower’s Right to Prepay” sections of Cx12387 and Cx12388 affect the last sentence of the second paragraph,…
According to Colorado regulation 4 CCR § 725-3:5.7(B), the mortgage loan originator is required to obtain, in writing, the reasons borrowers are seeking a mortgage loan. Our Cx12874 is provided to satisfy this requirement.
To improve the eSign functionality of Cx12874,…
The Virginia notary handbook states that “Every effort should be made for notarial statement to be on the same page as the signature being notarized, however, if they are on different pages, the notarial statement must include the name of the person whose signature is being notarized.” Also,…
The U.S. Department of Housing and Urban Development has released Mortgagee Letter 2025-15, which rescinds the requirement for all FHA loans to use the Supplemental Consumer Information Form (SCIF). The two standard SCIF documents in our library are:
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As part of our monthly audit of federal agency forms, we have updated the following documents as reflected in the most recent model forms published by the applicable federal agency.
-Cx3952 Verification of VA Benefits
-Cx14216 Request for Determination of Reasonable Value
-Cx5579 SSN Verification
The major updates are to the Privacy Notice and the Respondent Burden statement at the end of each form. …
After review, Docutech has updated the print configurations for Cx2999 “TX Mortgage Banker Disclosure” and Cx3883 “TX Mortgage Company Disclosure” according to guidance from the Texas Department of Savings and Mortgage Lending. The Department indicates that Cx2999 should print when a licensee is “a Texas Mortgage Banker or licensed as a Residential Mortgage Loan Originator that is sponsored by a Texas Mortgage Banker [pursuant to Texas Finance Code § 157].” The Department also indicates that Cx3883 should print when a licensee is “a Texas Mortgage Company or a Residential Mortgage Loan Originator that is sponsored by a Texas Mortgage Company [pursuant to Texas Finance Code § 156].”
Previously,…
We have made some adjustments to Cx3710 Prevailing Interest Rate Commitment Disclosure to only trigger specific language to more closely follow the instructions on the model form.
The instructions on the model form state that:
“If a commitment fee,…
After review, Docutech has updated the following items in Cx1529 “ME Assignment of Mortgage” to match Fannie Mae/Freddie Mac Uniform Instrument Form 3749 “MERS Mortgage Assignment (Maine)”:
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Under Virginia law (Va. Code Ann. § 58.1-803(D)), refinance loans may qualify for a partial exemption from recording taxes, provided the original loan’s recording information is included on the security instrument. For a deeper dive into this exemption, check out our blog post here….
Per annual requirements, Oklahoma has updated its laws regarding the maximum dollar amounts which can be charged for late fees.
Per Okla. Stat. Ann. tit. 14A, § 3-203(1) & (5), the Oklahoma Department of Consumer Credit has increased the maximum late charge for delinquent payments on a consumer loan or a revolving loan account from $32.00 to $33.00….
