Section I “BORROWER’S AGREEMENT ABOUT OBLIGATIONS UNDER THE NOTES AND MORTGAGES” of our copy of FNMA Form 3172, NY Consolidation, Extension and Modification Agreement (Cx1583) contains the statement:
“The total unpaid principal balance of the Notes is U.S. $_____________; of this amount, U.S. $_____________ was advanced to me (or for my account) immediately prior to this consolidation.”
Normally, the amount advanced that displays in the second field is determined by data sent in the loan file to Field 6108 “Amount advanced to Borrower prior to consolidation”. We have made a minor change to the document coding such that, if no data is sent field 6108, $0.00 will print by default instead of a blank line.
amount that was entered into the “US _____was advanced to me…” field was determined by the amount that clients would sent to Docutech. If clients sent Docutech a zero amount or didn’t sent an amount then Docutech left the portion blank. Docutech has changed this so that if clients send either a zero amount or don’t send an amount then Dcoutech will default to enter “$0.00” instead of leaving the amount blank.
This change will be in effect immediately. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.