When TRID 1.0 took effect, 12 C.F.R. § 1026.38(g)(1) required the creditor to, within Section E of the CD, disclose “an itemization of each amount that is expected to be paid to State and local governments for taxes and government fees” (see 78 FR 80123 [2013])….
One of the loan terms agreed to within Cx14675 (which is provided pursuant to Tenn. Comp. R. & Regs. 0180-17-.01, .04, & .05) is indicated by two checkboxes, one of which indicates that private mortgage insurance (“PMI”) is required in connection with the loan and the other indicating that PMI is not required,…
If the ConformX fields used to populate the “Year or period requested.” sections of IRS Forms 4506-C “IVES Request for Transcript of Tax Return” and 4506 “Request for Copy of Tax Return” are not set, the first two dates default to the last day of the previous two calendar years….
Cx2792 is provided pursuant to the provisions of Wash. Rev. Code Ann. §§ 19.146.010(3) and 19.146.030(2)(c) & (3) and Wash. Admin. Code §§ 208-620-510(3) through (5), 208-620-555(3)(b)(iv), 208-660-006, and 208-660-430(3)(c) & (d). It is also a duplicate of the model “Interest Rate Lock Agreement” published by the Washington Department of Financial Institutions (see https://dfi.wa.gov/mortgage-brokers/forms or https://dfi.wa.gov/consumer-loan-companies/forms)….
The Secured Overnight Financing Rate (SOFR) has been steadily declining over the last few months. The 30-Day Average SOFR was 0.01067 as of April 8, 2021. The global required field prompt in ConformX for the current Index Rate (FI 16) has been modified to allow a value of 0.000% through in case the SOFR index decreases to that point. …
On April 5, 2021 Gov. Michelle Lujan Grisham (D) signed into law N.M. SB 12 (2021), which repeals the Notary Public Act (N.M. Stat. Ann. §§ 14-12A-1 et seq.) and Uniform Law on Notarial Acts (Ibid.…
Earlier this year, we announced revisions to Cx2778 when it is used for loans secured by property in either Colorado or Idaho. We are now making additional revisions to the Georgia-, Maryland-, Mississippi-, and North Carolina-versions of these forms….
Pursuant to an internal audit of our Alabama-specific disclosures, we will be making the following changes.
According to the provisions of Alabama’s “Mini-Code” (Ala. Stat. §§ 5-19-1 through 5-19-33), “no disclosures are required by this chapter to be made by a creditor with respect to any transaction other than disclosures required by regulations made by the [Superintendent of Banks of the State Banking Department] pursuant to Section 5-19-21 and disclosures required by [Ibid.…
We will be making the following changes to two COVID-19 Pandemic related documents:
Explanation of Loan Terms (POA) (Cx23852)
Under FNMA’s and FHLMC’s temporary requirements imposed due to the COVID-19 Pandemic, in connection with certain transactions where an attorney-in-fact exists,…
Although not a legally required document, we provide on a generic basis an “Errors and Omissions/Compliance Agreement”(our Cx4), in which the borrower generally agrees to correct, within 30 days of a written request, any clerical errors which they may have made on closing documents,…
