On February 9, 2021 Gov. Mark Gordon (R) signed into law WY H.B. 0008 (2021), which amends various sections of the Wyoming-version of the Uniform Consumer Credit Code. Among these changes are amendments to the definition of a “loan primarily secured by an interest in land” (see our article about this definition here)….
A memorandum issued by the Chief Title Examiner from the Massachusetts Land Court says that:
“…acknowledged documents used in connection with the conveyance of registered land in Massachusetts – whether notarized within the Commonwealth of Massachusetts or another state – must use a form of acknowledgment that conforms substantially with the statutory form language set forth in c….
On February 25, 2021 Gov. Ralph Northam (D) approved VA H.B. 1882 (2021), which impacts several rules regarding deeds of trust, including whether amendments and modifications to loan documents must be recorded if the deed of trust states that it secures any additional amendments and modifications (see Va….
Last year, Ind. Code Ann. § 32-21-2-3(a) was amended (allegedly in error) to require both a notarial acknowledgment and a proof on instruments submitted for recording (see https://compliance.docutech.com/2020/06/30/document-updates-all-indiana-real-property-recordable-documents/ for details).
Last week, this same subsection was amended and now requires the following:
“Any instrument to be recorded must have one (1) of the following notarial acts:
(1) An acknowledgment (as defined in IC 33-42-0.5-2)….
The following changes are being made to the redesigned FNMA Form 1003 / FHLMC Form 65 (our Cx20667) following further testing that has been done during the FNMA/FHLMC Limited Production Period:
…
Over the course of the past three months, we have made several changes to our documents due both to the issuance of new IRS Form 4506-C and the fact that this will be the only form accepted by the IRS through their Income Verification Express Service (“IVES”),…
By: Timothy A. Raty; Sr. Regulatory Compliance Specialist
“The finance charge is the cost of consumer credit as a
dollar amount. It includes any charge payable directly or
indirectly by the consumer and imposed directly or
indirectly by the creditor as an incident to or a condition
of the extension of credit….
Today, the USDA posted to their website an advanced copy of revised RD HB-1-3555, Chapter 9 (see https://www.rd.usda.gov/page/usda-linc-training-resource-library, under “SFH Guaranteed Loan Basic Training and Resources”), Subsection 9.3(E)(4) of which states the following:
“IRS transcripts are required for all required household members in addition to the documentation option selected by the lender….
By: Timothy A. Raty; Sr. Regulatory Compliance Specialist
On January 13, 2021 the Bureau of Consumer Financial Protection (“CFPB”) published on its website a “Statement Regarding the Provision of Financial Products and Services to Consumers with Limited English Proficiency” (available at: https://www.consumerfinance.gov/about-us/blog/bureau-takes-additional-steps-to-foster-an-inclusive-financial-system/#utm_source=newsletter&utm_medium=email&utm_campaign=FL&utm_content=LEP). …
Following an update to Me. Rev. Stat. Ann. tit. 36, § 5250-A(3), the exceptions under which a buyer is not required to withhold tax imposed has been updated under Item C. This section now states the following:
“C….
