Docutech continues to update our document library and system settings to modernize documents and make them as consistent as possible with the 2021 versions of the GSE uniform instruments. The following changes are being made to remove old settings related to the pre-2021 uniform instruments and support the implementation of our revised FHA instruments.
Conventional, VA, and RD Loans
The conditions for non-FHA loans that previously defaulted “Use New FNMA/FHLMC Legal Documents (07/2021)” (FI 152151) to “No” for Closing Dates prior to January 1, 2023, have been removed. First lien Conventional/VA/RD non-HELOC loans will now default to “Yes” regardless of Closing Date.
“Use New FNMA/FHLMC Legal Documents (07/2021)” will no longer default to “No” for Alaska Housing (HOU2 in ConformX). The revised documents are now available for the Alaska Housing first lien programs.
“Use New FNMA/FHLMC Legal Documents (07/2021)” will continue to default to “No” for second lien and HELOC loans.
The pre-2021 documents are no longer accepted by FNMA/FHLMC for new loans and are in the process of being removed as ConformX standard forms. If you would like to continue to use any of the old forms as custom documents, please contact your Client Relationship Manager or Client Support at 1.800.497.3584.
FHA Loans
As previously announced, the new revised set of FHA security instruments and notes that are based on the 2021 (effective 2023) GSE forms will be the default set effective October 1, 2024. Instead of defaulting “Use New FNMA/FHLMC Legal Documents (07/2021)” to “No” for all FHA loans, it will default to “Yes” for FHA loans with Closing Dates (FI 678) on or after October 1, 2024.
If you would like to continue to use the older version of the FHA forms for loans after October 1, 2024, and want to have the field defaulted to “No” for additional FHA loans, please contact your Client Relationship Manager or Client Support at 1.800.497.3584. The pre-2021 FHA documents will no longer be supported as standard forms after April 1, 2025.
Global Standard Value Default Mapping Updated Logic Details
“Use New FNMA/FHLMC Legal Documents (07/2021)” (FI 152151) will be globally defaulted to “Yes” when the field has not been set and all of these conditions are true:
- Lien Position (FI 1041) is set to “FirstLien”;
- Heloc (FI 28859) is not set to “Yes” (non-HELOC loan); and
- Loan Type (FI 1066) is not set to “FHA” (non-FHA loan), or Closing Date (FI 678) is on or after October 1, 2024, or Closing Date is not set and Today’s Date (FI 15408) is on or after October 1, 2024.
“Use New FNMA/FHLMC Legal Documents (07/2021)” will be globally defaulted to “No” when the field has not been set if any of these contrasting conditions are true:
- Lien Position (FI 1041) is not set to “FirstLien” (subordinate lien);
- Heloc (FI 28859) is set to “Yes”; or
- Loan Type (FI 1066) is set to “FHA” and Closing Date (FI 678) is before October 1, 2024, or Closing Date is not set and Today’s Date (FI 15408) is before October 1, 2024.
Imported values and client standard value field mappings on “Use New FNMA/FHLMC Legal Documents (07/2021)” will continue to be honored.
Effective Date
The changes are available for testing on Stage 1 and Stage 2 servers and will take effect on May 14, 2024. If you have any question or concerns, please contact Client Support at 1.800.497.3584.
T3S-6050