Document Updates: Changes to DC Financing Agreement (Cx13979)

In an effort to create a more streamlined document, we have updated the escrow section of Cx13979 District of Columbia Final Financing Agreement and Written Commitment. The previous line included checkboxes and read:

Private Mortgage Insurance of any other type of insurance ___ is or ___ is not required for your loan. Funds will be placed into escrow for ___ no items ___ taxes ___ insurance ___ other.

We have reformatted this section to only include the items for funds which will be placed into escrow if insurance is required, and only the items required will populate on the document. The new statement says “Funds will be placed into escrow for the following items:” and then lists all the escrow items for which a monthly amount exists that is not also marked as waived. This in no way changes the functionality of the form; it simply improves the look of the section.

These changes will be in effective on December 7, 2022. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.

DR-138095

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.