As previously announced, the Loan Estimate and Closing Disclosure documents were set to print two copies by default in ConformX to follow new TRID FAQ guidelines while functionality was developed to print two copies through Docutech mail Fulfillment. Essentially, if a lender requires a signed hard copy to be returned, the borrower must be provided with a second copy of the LE or CD which they can retain.
Indicators have been created to trigger new functionality as part of the ConformX software release on August 7, 2020.
-
- If not already set, new “Borrower Required to Return Ink Signed Copy of Loan Estimate Indicator” (field 141085) will default to “Yes” in Initial Disclosure and Redisclosure document packages when “Loan Estimate Signature Lines Indicator” (field 95190) is “Yes”. “Borrower Required to Return Ink Signed Copy of Loan Estimate Indicator” will trigger two copies of the LE to be sent through mail Fulfillment only.
- If not already set, new “Borrower Required to Return Ink Signed Copy of Closing Disclosure Indicator” (field 141086) will default to “Yes” in Pre-Closing and Shipping document packages when “Closing Disclosure Signature Lines Indicator” (field 95191) is “Yes”. “Borrower Required to Return Ink Signed Copy of Closing Disclosure Indicator” will trigger two copies of the CD to be sent through mail Fulfillment only.
In coordination with the new software, the Loan Estimate and Closing Disclosure forms will be changed to once again print one copy by default instead of two. Only one copy will appear in electronically distributed packages since an electronic copy can be kept by borrowers in that scenario.
Clients who wish to continue to print two copies of these forms all the time, or wish to have “Borrower Required to Return Ink Signed Copy of Loan Estimate Indicator” or “Borrower Required to Return Ink Signed Copy of Closing Disclosure Indicator” standard value mapped differently than the default logic above, should contact Client Support at the number listed below to have these settings adjusted.
These changes will be in Production the evening of August 7, 2020, in coordination with the ConformX software release. Any questions or concerns related to these changes should be directed to Client Support at 1.800.497.3584.
DR 324795 (CX-1224)
UPDATE:
The deployment of these changes was temporarily postponed. The new effective date for these changes is August 14, 2020.