Document Updates: Wyoming Notice and Explanation of Fee Increase (TRID)(Cx19752) and Wyoming Notice and Explanation of Fee Increase (Cx16634)
Feb 10, 2020
On February 5, 2020 the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”) announced the following:
“Due to lack of demand and an increase in associated operational costs, Freddie Mac is retiring the eligibility for sale of Mortgages originated with a biweekly payment schedule, previously eligible for sale only on a negotiated basis as biweekly Mortgages. Section 4201.9 has been removed from the Guide, and related chapters have been updated to reflect this change. We are also removing the Biweekly Note and Rider used to document biweekly Mortgages from the Uniform Instruments web page.” (FHLMC Bulletin 2020-1)
Due to this, we will discontinue support for the following programs:
- 106468 Conventional Fixed Biweekly No Conversion
- 106469 Conventional Fixed Biweekly With Conversion
We will also de-configure the following documents:
- 3288 Biweekly Note (Cx19235)
- 3198 Biweekly Rider (Cx19236)
- 3289 Biweekly Note Without Conversion (Cx19237)
- 3199 Biweekly Rider Without Conversion (Cx19238)
These changes will be in effect on February 19, 2020. If you have any questions or concerns about these changes, please contact Client Support at 1.800.467.3584.
TW 286983
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.