Up to three tiers of temporary interest rate buydown are supported in ConformX on the Buydown Agreement (Cx25). Previously all three rows would always print in the “Buydown Schedule” near the top of the first page, even if not all three buydown tiers were in use.
The document has been modified to only print the second row if the second buydown tier number of months exists, and the third row only if the third buydown tier number of months exists.
A percent sign (“%”) has been added to each value in the “Borrower’s New Interest Rate” column. In addition, if the rate in this column is the same as the regular interest rate, then the regular monthly payment will print in the “Borrower’s Portion of Principal and Interest” column of that row.
These changes will take effect immediately. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.