Miss. Code Ann. §89-5-24, which sets forth the formatting requirements for Mississippi documents that are recorded, has been amended by MS H.B. 600. The bill can be viewed at http://billstatus.ls.state.ms.us/documents/2011/html/HB/0600-0699/HB0600SG.htm.
The following changes were made by the bill:
- The font of the documents must be at least 10-point in size; and
- “Each document or instrument . . . that is presented for recording and that contains any of the following information shall have that information on the first page below the three-inch margin:
(a) The name, PHYSICAL BUSINESS MAILING address and BUSINESS OR EMPLOYMENT telephone number of the individual who prepared the document AND OF EVERY GRANTOR, GRANTEE, BORROWER, BENEFICIARY, TRUSTEE OR OTHER PARTY TO THE INSTRUMENT.” (Ibid. [a]; all caps indicates changes from the original text)
The text in the body of the ConformX Mississippi deeds of trust and assignments will print in 11 point font instead of 10 to ensure the new font size requirement is met. The footer and loan number information will print in 10 point font instead of 8.
Additional information will be included on the first page of each Mississippi deed of trust and assignment to meet the new address and phone number requirements. The following items will be on the first page of each Mississippi deed of trust and assignment:
• Three inch blank top margin and one inch bottom and side margins;
• “Prepared By” name, company name, address, and phone number;
• “After Recording Return To” name, address, phone number, and “ATTN:” line if applicable;
• The document title “Deed of Trust” or “Assignment of Deed of Trust”;
• Grantor name(s), address, and phone number (address and phone are new additions);
• Grantee name, address, and phone number (address and phone are new additions);
• If MERS is the original mortgagee, then the Lender name, address, and phone number will print separately from the Grantee information on the Deed of Trust (all are new additions to the first page of the MERS deeds of trust);
• Trustee name, address, and phone number (all are new additions to the first page, and new optional field prompts will appear in ConformX for Mississippi Closings if the trustee fields are left empty); and
• Legal Description.
Fannie Mae updated the MERS instructions for the Mississippi deed of trust (FNMA Form 3025) to include the street address of MERS in addition to the mailing address. FNMA stated the change would be required in November 2012, but could be implemented sooner. The ConformX Mississippi deeds of trust have been updated and the MERS deed of trust text changes will be implemented at the same time as the recording requirement changes.
The recording requirement changes are effective for Mississippi on July 1, 2012. All of these changes will be in ConformX production beginning June 23, 2012. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
June 20, 2012