Compliance News Alert: Nebraska Net Tangible Benefits Disclosure
Aug 28, 2019
In an email dated August 28, 2019 FNMA announced that they had “updated the summary document for the Multistate Fixed-Rate Note 3200 to include an Authorized Change for properties located in Alabama.” We have reviewed this change, which now permits lenders to include the following as the last sentence in Section 6(A) of Form 3200:
“In no event will any late charge under this Section 6(A) exceed $100.”
We are planning to incorporate this change and details of any modifications we make will be announced on our website (https://compliance.docutech.com/).
The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.