At the end of last year, FNMA updated several of their uniform documents (see https://compliance.docutech.com/2017/12/27/document-updates-fannie-mae-updates-texas-uniform-instruments/) to be more compatible with the recently passed amendments to Texas’ Constitution (see https://compliance.docutech.com/2017/11/28/document-updates-various-texas-home-equity-loan-documents-2/).
After reviewing FNMA’s changes, we have decided to incorporate these changes into the following documents:
- TX Home Equity Second Deed of Trust (Cx6179; will more closely match the language of FNMA Form 3044.1, but geared towards junior liens);
- TX Home Equity Second Note (Cx6183);
- TX Home Equity 3529.44 Conv. Fixed/Adj. Rate Note – WSJ 1yr LIBOR (Cx6541; will match the language of the uniform document);
- TX Home Equity 3523.44 Fixed/Adj. 1 Year Treasury Convertible Note (Cx7857; will match the language of the uniform document); and
- TX Home Equity 3263.44 Fixed/Adj. 10 Year Treasury Note (Cx7860; no longer a uniform document, as of 2014).
These changes will take effect on April 4, 2018. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.