This document is a duplicate copy of FNMA Form 3015 and is our generic security instrument for conventional, first lien loans secured by property located in Indiana.
Within the first paragraph of the section entitled “Transfer of Rights in the Property” of the MERS-version of Cx324, there is clause which grants a mortgage unto MERS “with power of sale.” This power of sale clause does not appear in FNMA Form 3015 and is not provided for in FNMA’s Instructions to such form. In order to conform to the requirements of FNMA’s uniform security instrument (as well as the provisions of Ind. Code Ann. § 32-29-1-3), we will be removing this clause.
This change is effective immediately. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
April 22, 2015