Pursuant to an internal review, Docutech is adjusting the language on our ARM and Balloon PMI disclosures to more closely mirror the language of the Homeowner Protection Act (12 USCA § 4901 et seq.) The disclosures will now include a statement that the “servicer will notify the mortgagor when the cancellation date is reached.” Accordingly, the above adjustment will be made to the following documents:
- PMI Disclosure – ARM (Cx862)
- PMI Disclosure – Balloon (Cx4668)
- Borrower Paid Single Premium PMI Disclosure – ARM (Cx14293)
- Borrower Paid Single Premium PMI Disclosure – Balloon (Cx14294)
This change will be in effect on July 23, 2020. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.