In an email sent today (Subject: UAD Redesign Video, January Quality Insider, and More), the Federal National Mortgage Association announced the following:
“We’ve updated the instructions for the Oklahoma Mortgage (Form 3037) to reflect a new authorized change.”
New Authorized Change # 14 appears in the Instructions to Form 3037 and states the following:
“Lenders MAY replace the first sentence of 16. Governing Law; Severability; Rules of Construction with the following sentence:
This Security Instrument shall be governed by federal law and the law of the State of Oklahoma.”
We are currently reviewing this announcement to determine any impact, and evaluating any modifications, to our document library and/or systems. Any modifications we make as a result will be announced on our website (https://compliance.docutech.com/).