Compliance News Alert: Nebraska Net Tangible Benefits Disclosure
Mar 5, 2020
In an email dated March 5, 2020 FNMA announced the following:
“Revisions to certain Fannie Mae-only ARM Notes and ARM Riders; retirement of Multistate Biweekly Notes and Riders
We’ve revised certain Fannie Mae-only notes and riders to reinsert Maximum Rate in Section 4(D). See the ‘News & Updates Archive’ on the Legal Documents page for a list of the revised documents. These revised documents may be used immediately, but must be used by June 1. We’ve also retired and removed all Multistate Biweekly Notes, Riders, and corresponding resources from the Legal Documents pages.”
We are currently reviewing these changes to determine any impact to our document library and/or systems and evaluating any necessary changes. Any modifications we make will be announced on our website (https://compliance.docutech.com/).
Task 286956
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.