Document Updates: Wyoming Notice and Explanation of Fee Increase (TRID)(Cx19752) and Wyoming Notice and Explanation of Fee Increase (Cx16634)
Dec 24, 2020
The following changes are being made to the redesigned FNMA Form 1003 / FHLMC Form 65 (our Cx20667) following further testing that has been done during the FNMA/FHLMC Limited Production Period:
- Section 9: Loan Originator Information: A new field, “1003 Loan Originator – Apply LO eSignature” (Field 143029), has been created to allow for suppression of the Loan Originator eSignature in Section 9: Loan Originator Information. Note that this field only applies to the eSignature. All other fields (e.g. name) will continue to trigger even if the eSignature itself is not applied. By default the eSignature will continue to be applied, but this new field allows it to be turned off if desired.
- Lender Loan Information: We are adding the option to suppress the Lender Loan Information due to a question that was submitted to the GSEs. When asked if the LLI is always mandatory, they replied:
“The GSE requirement is that the final signed loan application is maintained in the loan file, including the Lender Loan Information component reflecting the terms of the closed loan. It is up to lenders to determine how they want to present the Lender Loan information to borrowers.”
Consequently, we have created “Print Redesigned 1003 Lender Loan Information” (Field 143028) to allow for the suppression of the LLI prior to the “final signed loan application,” if clients so desire.
Note that the Lender Loan Information change is also being made to our Spanish Translation Aid Form 1003/Form 65 (Cx20668), but the LO eSignature suppression change is not, since at this time there is no eSign for this section on Cx20668.
These changes are available now on ConformX Stage servers for testing, and will be available on Production on December 31, 2020. Questions or concerns about these changes should be directed to Client Support at 1.800.497.3584.
Please visit the Docutech URLA Resource Center to access additional information on the redesigned URLA, including previous announcements: https://compliance.docutech.com/urla-resource-center/
DR 334304
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.