This document is a duplicate of form HUD-92900-A, which is required under multiple sections of the new FHA Handbook (see FHA Single Family Handbook 4000.1 Pt. II, A.1.a.i.[A]., [B]., & [C], A.1.a.iii.[B], A.1.b.iii.[A]., A.4.e.i.[C], A.5.d.x.[B]. & [C], A.6.a.iv, vii, & xiii.[A], A.7.b.iii & vii, A.7.d.ii.[C], & A.8.i.viii).
Under the new Handbook, this document is specifically required to be provided both before the processing and underwriting process for a mortgage application. These requirements appear in Pt. II, A.1.a which is entitled “Applications and Disclosures” and which also makes references to an “initial” version of HUD-92900-A. Taken altogether, this indicates that this form is expected to be filled out during the Initial Disclosure time frame.
Previously, we had configured this document to print only in Processing, Underwriting, and Closing packages. Due to the new regulations, we will be configuring this document to print in all Initial Disclosure packages as well.
Because certain pages on Cx3981 are not appropriate to be signed by the borrower at the time of Initials (e.g. by signing the “Borrower’s Certificate” on page 4, the borrower certifies that “all charges and fees collected from me as shown in the settlement statement have been paid by my own funds”), we have configured pages 3 and 4 to not be electronically signed during the eSign process for Initials.
These changes will take effect on November 12, 2015. If you have any questions or concerns about these change, please contact Client Support at 1.800.497.3584.