As part of an ongoing audit of second lien and HELOC documents, we have made the following changes to Cx1061 Fixed Rate Note Nebraska Second, Cx3044 HELOC Deed of Trust – NE and the Nebraska version of Cx21652 HELOC Agreement.
Cx1061 Fixed Rate Note Nebraska Second and Cx21652 HELOC Agreement
According to R.R.S. Neb. § 45-1055 the following Notice to Consumer needs to print for installment loans which is defined in R.R.S. Neb. § 45-1002 as “a loan or any extension of credit to a consumer originated or made with an interest rate greater than the maximum interest rate allowed under section 45-101.03 and a principal balance of less than twenty-five thousand dollars”:
NOTICE TO CONSUMER:
1. Do not sign this paper before you read it.
2. You are entitled to a copy of this paper.
3. You may prepay the unpaid balance at any time without penalty and may be entitled to receive a refund of unearned charges in accordance with law.
We have adjusted print conditions so this notice will print only when a loan meets the qualifications of the statute.
In all other circumstances, the following notice will print:
NOTICE TO BORROWER
Do not sign this Agreement if it contains blank spaces.
All spaces should be completed before you sign
Cx3044 HELOC Deed of Trust – NE
In order to more closely align with Nebraska Second, we have added Nebraska’s version of a Notice of Default. This notice is outlined in Neb. Rev. St. § 76-1008(1). This notice is not required but many clients choose to have it on their documents. In order to have consistency between Nebraska documents we have added it to Cx3044 HELOC Deed of Trust – NE. This prints when Print Request for Notice of Default (Field 102039) = 1 (Yes).
These changes are available now for testing on Stage & Stage 2 servers and will take effect in Production on November 12, 2024. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
COM-5332
DR-161842
Update:
We have updated the blank spaces disclosure to make it consistent for all print configurations. This change will be in effect immediately.
DR-164870