After a review of the language that prints for our signature lines for trusts, we have decided to update our standard Trust Riders and Trust Acknowledgments to permit the signatures and names in those documents to reflect any amendment date in the legal name of the trust. The Fannie Mae Selling Guide, E-2-03 Revocable Trust Rider (Sample Language) reflects that the definition of the “Revocable Trust” should include the complete legal name of the trust and the date of the trust. Arguably, the complete legal name of the trust should also include any amendment date. This update is applicable to the following documents:
- Inter Vivos Revocable Trust Rider (Cx21131)
- Inter Vivos Revocable Trust Acknowledgment (Cx21130)
- NY CEMA GAP – Inter Vivos Revocable Trust Acknowledgment (Cx16254)
- NY CEMA GAP – Inter Vivos Revocable Trust Rider (Cx16253)
Fields Involved
We will now print the amendment date (e.g. FI 101317 “Trust 1 Amendment Date”) on the above Trust Riders and Trust Acknowledgments for FNMA loans when the amendment date is populated, and for all FHLMC loans when the amendment date is populated and FI 155518 “Use Freddie Mac (FHLMC) Trustee and Settlor Signature Text” is ‘Yes’ and FI 163502 “Include Amendment Date in Freddie Mac Trustee/Settlor Signature Lines Indicator” is ‘Yes’.
Effective Date
These changes will be in effect on February 20, 2023. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
DR 140074