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….
WAC 208-620-550(18) requires a loan application to indicate the date the application was taken or revised. WAC 208-620-010(4) defines the term “application” to mean “the submission of a borrower’s financial information in anticipation of a credit decision relating to a residential mortgage loan”….
The ability to support up to ten requests of IRS Form 8821 Tax Information Authorization per borrower has been added to ConformX. Fields specific to each borrower to trigger and populate each request copy are now available.
New 8821 Print Trigger
New field “Print 8821 Tax Information Authorization” (FI 193600) is now available to trigger the form to print….
Previously we announced that we updated our Maryland first lien security instruments to print “Purchase Money” in the title if Loan Purpose was set to ‘Purchase’ or “Print ‘Purchase Money’ in the Security Doc Title” (FI 48407) was set to ‘Yes’….
Previously we announced the addition of Beneficiary/Lender Fields on the security instruments. (Please see here). We have continued to make updates. This time we are adding these fields to the “NOTICE” section in our HELOC security instruments….
As previously announced, because the NYDFS had not yet posted the “What Mortgage Applicants Need To Know” pamphlet on their website, to comply with the June 11, 2025 effective date, Docutech created Cx28331 “NY What Mortgage Applicants Need to Know” based on the language found in NY Banking Law § 35(2)….
According to Louisiana Civil Code Article 2347, the concurrences of both spouses is required for the lamination, encumbrance, or lease of community property immovables, if they are issued or registered in the names of the spouses jointly. Our Louisiana HELOC Mortgage –…
Recently, we announced here that we updated Cx1570 (Maine Notification to Buyer of Withholding Tax Requirement). We have made further updates to Cx1570 to allow the real estate escrow person to be able to eSign using our Global Lender Signature functionality. …
As previously announced, on December 13, 2024, New York Governor Kathy Hochul signed Assembly Bill A9686 that enacts NY Banking Law § 35, which contains a new requirement for mortgage lenders and other banking organizations offering residential mortgage services to provide a “What Mortgage Applicants Need to Know” pamphlet to applicants….
W. Va. Code §106-5 requires:
“…an assessment of the borrower’s ability to repay the loan according to its terms. Such assessment must be signed by the lender to the lender’s representative and the borrower(s) and must consider the household’s current debt obligations,…
