Due to a recent audit, for FHA case number assignment dates of 9/14/2015 and later, Docutech is updating the Waiver section of the Texas-specific version of our FHA Notes (Cx36, Cx861, and Cx13045). While the pre-September 14, 2015 version of the FHA Handbook required language in regards to notice of intention to accelerate in the Waiver section, the current Handbook does not. The Waiver section now reads:
“Borrower and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor. “Presentment” means the right to require the Lender to demand payment of amounts due. “Notice of Dishonor” means the right to require the Lender to give notice to other persons that amounts due have not been paid.”
This change will be in effect on May 10, 2016. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
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